Pulsar Helium Announces Jetstream #3 Encounters Gas With Near-1,000 psi Bottom-Hole Pressure

Executive Summary

• Pulsar Helium announced that the newly spudded Jetstream #3 well at its Topaz helium project intersected pressurized gas zones with an estimated bottom‑hole pressure of ~960 psi, markedly higher than pressures recorded in earlier wells.
• The well has already reached 2,167 ft (661 m) depth and is being drilled to a planned total depth of ~3,500 ft (1,067 m) using a 3.8‑in coring method, delivering abundant core samples for analysis.
• Upon reaching total depth, Pulsar will conduct open‑hole wireline logging, optical televiewer imaging, and controlled flow‑testing/pressure‑build‑up programs to quantify deliverability and helium (including rare He‑3) content.

Key Details

• Location: Jetstream #3 is situated ~0.6 mi (≈950 m) NE of Jetstream #1 within the Topaz project, northern Minnesota, USA.
• Depth & Pressure: Intercepted gas zones at ~1,717 ft (523 m) and 2,036 ft (621 m); bottom‑hole pressure estimated at ~960 psi at 2,167 ft (661 m). For comparison, Jetstream #1 recorded 185 psi (2024) and Jetstream #2 recorded 205 psi (2025).
• Drilling Method: Continuous HQ core drilling with a 3.8‑in (96 mm) hole diameter; large‑diameter core (~63.5 mm) to maximize sample recovery.
• Observed Gas: Visible gas bubbling in mud returns during pipe connections, indicating active gas influx while drilling.
• Planned Total Depth: ~3,500 ft (1,067 m).
• Post‑Drilling Program:
• Open‑hole wireline logs and optical televiewer imaging to characterize geology and petrophysics.
• Controlled flow‑testing and pressure‑build‑up analysis to assess well deliverability.
• Laboratory analysis of core and gas samples for composition, helium concentration, and He‑3 isotope content (He‑3 previously detected in Jetstream #1).
• Previous Topaz Milestones:
• Jetstream #1 TD 5,100 ft (Jan 2025) – flow‑tested delivering ~1.3 MMcf/d with 7–8 % He‑4.
• Jetstream #2 TD 5,638 ft (Feb 2025).
• Management Quote: Thomas Abraham‑James, President & CEO, highlighted the “near‑1,000 psi bottom‑hole pressure” as a strong validation of the geological model and a positive step toward developing Topaz into a leading primary helium project in North America.

Notable Quotes

“Encountering such strong gas pressure at Jetstream #3 is extremely encouraging for our team. A near‑1,000 psi bottom‑hole pressure suggests we have a highly charged reservoir at this location… It’s an exciting milestone for Pulsar as we advance Topaz toward becoming a leading primary helium project in North America.” – Thomas Abraham‑James, President & CEO

Material Assessment: Material – Positive (significant drilling result that materially advances the company’s flagship helium project and supports future development plans).