Pulsar Helium Advances Appraisal Programme with Completion of Jetstream #3 And Commencement of Testing; Rig Mobilised to Jetstream #4, Topaz Project, Minnesota, USA

Executive Summary

• Pulsar Helium successfully completed drilling the Jetstream #3 appraisal well at its Topaz Project in Minnesota, reaching a total depth of 3,507 ft (1,069 m).
• The well encountered strong natural pressure (~960 psi bottom‑hole), markedly higher than earlier wells (Jetstream #1: 185 psi; Jetstream #2: 205 psi), indicating a robust helium‑bearing reservoir.
• Drilling of the next appraisal well, Jetstream #4, commenced on November 9, 2025, and the company plans open‑hole wireline logging, optical televiewer imaging, and subsequent flow‑testing of Jetstream #3 to assess deliverability ahead of a resource update and Preliminary Economic Assessment (PEA) slated for H1 2026.

Key Details

• Well Completion: Jetstream #3 reached TD = 3,507 ft (1,069 m) on 7 Nov 2025; fully penetrated the interpreted helium‑bearing interval.
• Pressure Data: Calculated bottom‑hole pressure ≈ 960 psi; compares to 185 psi (Jetstream #1, 2024) and 205 psi (Jetstream #2, 2024).
• Next Well: Jetstream #4 spudded on 9 Nov 2025; target TD ≈ 3,000 ft (914 m).
• Planned Evaluation for Jetstream #3:
• Open‑hole wireline logs to gather geological & petrophysical data.
• Optical televiewer to image borehole wall geology.
• Proposed controlled flow‑test and pressure build‑up program to measure well deliverability.
• Drilling Campaign Scope: Up to 10 appraisal wells intended to delineate geometry, extent, and productivity of the Topaz helium reservoir.
• Future Milestones:
• Update Topaz resource estimate.
• Conduct Preliminary Economic Assessment (PEA) in H1 2026.
• Strategic Goal: Position Topaz as a new primary helium supply source for the North American market.

Notable Quotes

“It is my pleasure to report the successful completion of drilling the Jetstream #3 appraisal well… Initial bottom‑hole pressure readings surpass expectation and reinforce our belief in the huge potential offered by this incredible multi‑commodity gas discovery.” – Thomas Abraham‑James, President & CEO, Pulsar Helium

“With the drilling of Jetstream #4 underway and down‑hole testing soon to commence at Jetstream #3, momentum continues to build at Topaz as we advance our drilling campaign…” – Thomas Abraham‑James