Pulsar Helium Begins Fieldwork to Deepen Jetstream #1 Well at Topaz Project, Minnesota

Pulsar Helium Inc., a prominent developer of helium projects, has announced the commencement of field activities at its flagship Topaz Project in Minnesota. This marks a significant phase in the project’s advancement, with personnel and equipment now arriving on-site to prepare for the deepening of the Jetstream #1 appraisal well. The work is expected to begin once all necessary equipment is in place and is targeted for completion before the Christmas holiday.

The plan involves extending the Jetstream #1 well by at least 1,640 feet (500 meters) to fully penetrate the modeled helium-bearing reservoir. This ambitious effort builds on prior drilling activities and aims to unlock additional helium resources to support the growing global demand.

Key Project Highlights:

1. Mobilization Underway: Personnel and equipment began arriving at the site on December 7.

2. Drilling Schedule: Deepening operations will commence when the rig and related equipment are in place, with completion anticipated before Christmas.

3. Well Extension: The well will be deepened by a minimum of 1,640 feet (500 meters) to reach the entire helium reservoir.

4. Data Acquisition: A mass spectrometer will collect gas compositional data during drilling, complemented by wireline logging upon completion.

5. Site Preparedness: The drill pad is fully prepared, permitted, and equipped for continuous operations.

6. Operational Continuity: Infrastructure upgrades ensure uninterrupted drilling and support activities throughout December and beyond.

Thomas Abraham-James, President and CEO of Pulsar Helium, emphasized the significance of this phase: “Deepening Jetstream #1 is a major step forward for Pulsar. The February 2024 drilling already identified helium concentrations that are exceptionally high by global standards, far exceeding the economic viability threshold. This deeper phase aims to fully unlock the resource’s potential and advance our goal of becoming a significant helium supplier. I look forward to sharing the results with our shareholders soon.”

The Jetstream #1 well initially reached a total depth (TD) of 2,200 feet (671 meters) in February 2024. During that phase, the well revealed exceptional helium concentrations of up to 14.5%, vastly exceeding the economic threshold of 0.3%, alongside CO2 levels surpassing 70%. These results highlight the reservoir's economic promise, with CO2 potentially enhancing project profitability.

The upcoming deepening efforts aim to explore the entire height of the helium reservoir using data from surveys, previous drilling, and on-site tests. This critical step advances Pulsar’s strategy to meet increasing global helium demands and move closer to production. By leveraging these promising results, Pulsar seeks to establish itself as a leading supplier in the helium market.