Pulsar's Jetstream No. 5 well hits pressurized gas

Executive Summary

• Pulsar Helium Inc. reports an additional high-pressure gas encounter at its Jetstream No. 5 appraisal well at the Topaz project in Minnesota, with a bottom-hole pressure of approximately 1,292 psi, the highest recorded at the site to date.
• The company outlines its upcoming multiwell flow testing program, scheduled to commence in early February 2026, which will evaluate Jetstream wells No. 3, No. 4, and No. 5.
• Drilling at Jetstream No. 5 is continuing toward a planned total depth of 5,000 feet, after which the rig will mobilize to drill Jetstream No. 6.

Key Details

• Jetstream No. 5 Gas Encounters:
  • New Zone: Additional high-pressure gas influx encountered at approximately 2,857 feet (871 metres) depth.
  • Pressure: Bottom-hole pressure estimated at approximately 1,292 pounds per square inch (psi), the highest recorded at Topaz.
  • Previous Zones: Prior pressurized gas zones were intersected at approximately 837 feet (255 metres) and 1,481 feet (451 metres).
  • Early Pressure Data: An early calculated bottom-hole pressure of approximately 662 psi was recorded at the 1,481-foot depth.
• Drilling Status:
  • Jetstream No. 5 was spudded on November 28, 2025.
  • Drilling is continuous, with the crew returning to work on January 3, 2026, after a break starting December 14, 2025.
  • The well is advancing toward a planned total depth of no more than 5,000 feet (1,524 metres).
• Future Drilling Plans:
  • Upon completion of Jetstream No. 5, the drilling rig will mobilize to Jetstream No. 6.
  • Jetstream No. 6 is located approximately 2.2 kilometres southwest of the discovery well (Jetstream No. 1).
• Upcoming Testing Program:
  • Timeline: Slated to commence in early February 2026.
  • Scope: A coordinated flow testing and pressure buildup program covering Jetstream wells No. 3, No. 4, and No. 5.
  • Duration: Approximately six weeks per well.
  • Reporting: Pulsar will announce interim results from the Topaz testing campaign as data are received and verified.
• Project Context:
  • The Topaz project in northern Minnesota is a primary helium discovery containing helium-4, helium-3, and CO2.
  • The multiwell appraisal program aims to map the reservoir's extent, pressure regime, and gas composition to inform resource estimation and development planning.

Notable Quotes

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