Pulsar talks helium concentrations at Topaz wells

Executive Summary

• Pulsar Helium Inc. reports sustained helium concentrations of 7-8% at both Jetstream No. 1 and Jetstream No. 2 appraisal wells at its Topaz project in Minnesota, validating the site as a top-tier primary helium discovery.
• Jetstream No. 1 demonstrated strong deliverability, achieving a peak flow rate of 1.3 million cubic feet per day (mcf/d) under compression, with gas composition consisting primarily of CO2 (75-80%) and helium (7-8%), and negligible methane (<3%).
• Jetstream No. 2 showed high reservoir pressure (151 psi) and similar helium grades but was limited by wellbore blockages; a targeted cleanout program is planned to restore flow and conduct further testing.

Key Details

• Jetstream No. 1 Helium Concentration: Sustained helium levels of 7-8% by volume, significantly exceeding the typical commercial threshold of ~0.3%.
• Jetstream No. 1 Flow Performance:
  • Peak flow rate of ~1.3 million cubic feet per day under wellhead compression.
  • Maximum natural flow rate of ~501,000 cubic feet per day (open flow, 38/64ths-inch choke, ~30 psi wellhead pressure).
  • Stable long-duration flows of 150,000 to 300,000 cubic feet per day for 12-18 hours on smaller chokes.
• Jetstream No. 1 Gas Composition:
  • CO2: 75-80% (potential for commercial byproduct utilization).
  • Helium: 7-8%.
  • Methane: <3% (gas is effectively free of hydrocarbons, simplifying processing).
  • No formation water encountered; gas flowed dry.
• Jetstream No. 2 Helium Concentration: Initial samples confirmed helium concentrations of up to 8%.
• Jetstream No. 2 Reservoir Pressure: Initial shut-in pressure of ~151 psi (10.4 bar), notably higher than Jetstream No. 1, indicating a highly charged reservoir.
• Jetstream No. 2 Operational Status: Sustained flow was limited due to persistent wellbore blockages. A targeted cleanout program is being designed to clear obstructions and enable further flow testing.
• Well Depths:
  • Jetstream No. 1: Total depth (TD) of 5,100 feet (1,555 metres).
  • Jetstream No. 2: Total depth (TD) of 5,638 feet (1,718 metres).
• Upcoming Activities: A multiwell drilling campaign is scheduled to commence in early October to expand reservoir understanding.
• Technical Verification: Gas analyses conducted by Isotech (Stratum Reservoir brand); flow testing by Sabre Production Services LLC. Technical review by Brad Cage, VP Engineering.

Notable Quotes

• "We are very encouraged by the consistency of helium grades across both Jetstream wells, with favourable CO2 levels expected to simplify processing and enhance product yields. These latest data sets further validate the Topaz project's significant potential... With the upcoming core drilling, these programs position us to unlock sustained production capability at Topaz and continue building momentum toward establishing it as one of the leading new primary helium projects in North America." — Thomas Abraham-James, President and CEO