PULSAR HELIUM ANNOUNCES AN UPDATE FOR WELL-TESTING AT THE TOPAZ HELIUM PROJECT IN MINNESOTA
Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF), a primary helium development company, announces an update for well-testing activities at Jetstream #1 and Jetstream #2 at its flagship Topaz project in Lake County, Minnesota.
Pressure and flow testing operations were conducted on the Jetstream #1 and #2 appraisal wells with well-head pressure at both being highly encouraging, reaching 122 PSIG* at Jetstream #1 and 151 PSIG at Jetstream #2. Well-head pressure at Jetstream #2 is greater than Jetstream #1 was in February 2024 (145 PSIG) when it achieved a flow rate of 821,000 cubic feet per day, under well-head compression.
During flow testing activities, it was discovered that drilling fines (rock dust) created by the air drilling method (that pulverizes the rock) were present within fractures and partially coating the wellbore wall. The creation of drilling fines is commonplace when air drilling Although gas flow may be restricted, pressure communication still occurs (albeit also constrained) which is why the Company was unaware of the restricted flow until testing commenced.
The Company has performed a preliminary clean-up on both wells to mobilise the drilling fines, achieving improved flow results, demonstrating that the drilling fines are mobile and can be removed. Despite the currently restricted conditions, stable and consistent flow rates were achieved under with both wells flowing natural flow and on compression.
Further flow testing of the Jetstream wells will recommence when clean-up of the wells is complete and the drilling fines have been removed, all of which are anticipated to be completed in the next 6 – 10 weeks.
Thomas Abraham-James, President & CEO of Pulsar, commented:
“We are pleased with these preliminary findings and look forward to being able to resume flow testing when the rock dust has been removed from the wells. Our technical team is taking the necessary measures to complete the clean-up and we will advise investors as soon as these works are complete and when testing will be resumed.”
*PSIG = Pounds per Square Inch Gauge. Indicating how much pressure is above or below the local atmospheric pressure.
About the Topaz Project
The Topaz project is located in northern Minnesota, USA where Pulsar is the first mover and holds exclusive leases. Drilling at the Jetstream #1 appraisal well has now reached total depth (“TD”) of 5,100 feet (1,555 metres) on January 11, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond. The Jetstream #1 appraisal well previously reached TD of 2,200 feet (671 metres) on February 27, 2024, identifying top-tier helium concentrations of up to 14.5%, well above the 0.3% widely accepted economic threshold, and CO2 concentrations exceeding 70% – with the latter expected to further contribute to the project economics. Drilling of, the Jetstream #2 appraisal well was completed on February 1, 2025, reaching a TD of 5,638 feet (1,718 metres). The deepening of Jetstream #1 and completion of the drilling of Jetstream #2 are pivotal steps in advancing Pulsar’s strategy to address the increasing global demand for helium as the Company moves another step closer to production.
On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
Pulsar Helium Inc.
+ 1 (218) 203-5301 (USA/Canada)
+44 (0) 2033 55 9889 (United Kingdom)
https://ca.linkedin.com/company/pulsar-helium-inc.
