Pulsar's Jetstream No. 3 well hits pressurized gas

Executive Summary

• Pulsar Helium Inc. reports significant drilling progress at its Jetstream No. 3 well at the Topaz project in Minnesota, encountering pressurized gas with a calculated bottom-hole pressure of approximately 960 psi.
• The well intersected two gas-bearing intervals at depths of approximately 1,717 feet and 2,036 feet, validating the continuity of the helium-rich reservoir established by previous wells.
• The high pressure reading (compared to 185 psi and 205 psi in Jetstream No. 1 and No. 2, respectively) indicates a robust, highly charged reservoir, marking a major milestone in the company's multiwell drilling campaign.

Key Details

• Well Location: Jetstream No. 3 is located 0.6 mile (approx. 950 metres) northeast of Jetstream No. 1 at the Topaz helium project in Minnesota.
• Drilling Status: Spudded on Oct. 17; currently at 2,167 feet (661 metres) with a planned total depth of approximately 3,500 feet (1,067 metres).
• Gas Encounters:
  • Intersected gas-bearing intervals at approximately 1,717 feet (523 metres) and 2,036 feet (621 metres).
  • Observed visible gas bubbling in drilling mud returns at surface during pipe connections, indicating active gas influx.
• Pressure Data:
  • Calculated bottom-hole pressure of approximately 960 psi at 2,167 feet.
  • Comparison: Jetstream No. 1 had 185 psi (drilled 2024); Jetstream No. 2 had 205 psi (drilled 2025).
• Drilling Method: Continuous HQ core drilling (large-diameter core of approx. 63.5 mm) with a hole diameter of 3.8 inches (96 mm) to maximize sample recovery.
• Next Steps/Testing Plan:
  • Upon reaching total depth, the well will undergo open-hole wireline logs and optical televiewer imaging.
  • Controlled flow testing and pressure buildup program to measure well deliverability.
  • Core and gas samples will be sent for laboratory analysis to determine gas composition and helium concentrations.
  • Specific testing for helium-3 isotope, which was previously detected in Jetstream No. 1.
• Project Context:
  • Jetstream No. 1 reached TD of 5,100 feet in Jan 2025; flow tested in Aug 2025 with peak gas flow of 1.3 million cubic feet per day and 7-8% helium (as helium-4).
  • Jetstream No. 2 reached TD of 5,638 feet on Feb 1, 2025.
  • Pulsar holds exclusive leases at Topaz and is the first mover in primary helium occurrences not associated with hydrocarbon production.

Notable Quotes

• "Encountering such strong gas pressure at Jetstream No. 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. This outcome not only validates the geological model we built from Jetstream No. 1 and No. 2 but also boosts our confidence as we continue drilling and begin the testing phase." — Thomas Abraham-James, President and CEO