Pulsar Helium Reports Pressurised Gas Encounter at Jetstream #4 as Appraisal Drilling Advances

Executive Summary

• Pulsar Helium’s Jetstream #4 well began drilling on Nov 9 and has intersected pressurized gas zones with a calculated bottom‑hole pressure of ~674 psi at 1,457 ft (444 m).
• The well is progressing toward a planned total depth of ~3,000 ft (914 m) using a 3.8‑in coring method; visible gas bubbling was observed in mud returns.
• Upon reaching TD, Jetstream #4 (and Jetstream #3) will undergo comprehensive open‑hole wireline logging, optical televiewer imaging, controlled flow‑testing and pressure‑build‑up analysis, with core and gas samples sent for laboratory helium‑3 isotope assays.

Key Details

• Location: Topaz helium project, northern Minnesota; Jetstream #4 sits 0.4 mi south of Jetstream #3 and 0.1 mi north of Jetstream #1.
• Pressurized gas intervals intersected:
• 1,187‑1,277 ft (362‑389 m)
• 1,327‑1,437 ft (404‑438 m)
• Bottom‑hole pressure: ~674 psi measured at 1,457 ft (444 m).
• Planned total depth (TD): ~3,000 ft (914 m).
• Drilling method: Continuous HQ core drilling; hole diameter 3.8 in (96 mm); large‑diameter core (~63.5 mm) for maximum sample recovery.
• Observations: Gas bubbling in mud returns during pipe connections, indicating active gas influx.
• Next steps after TD:
• Run a suite of open‑hole wireline logs and optical televiewer imaging.
• Conduct controlled flow‑testing and pressure‑build‑up program on both Jetstream #3 and #4 (simultaneous testing to reduce mobilization costs).
• Send all core and gas samples for laboratory analysis, focusing on helium concentration and helium‑3 isotope content (previously detected in Jetstream #1).
• Historical context:
• Jetstream #1 (TD 5,100 ft) and #2 (TD 5,638 ft) completed early 2025; both encountered gas.
• Jetstream #3 reached TD on Nov 7 with bottom‑hole pressure ~960 psi; flow testing pending.
• August 2025 flow test of Jetstream #1 delivered peak 1.3 MMcf/d with 7–8 % helium‑4 and confirmed measurable helium‑3 levels.

Notable Quotes

• Thomas Abraham‑James, President & CEO: “Encountering another zone of pressurised gas at Jetstream #4 is a highly encouraging continuation of what we are seeing across the field… It reinforces the strength of the reservoir and further validates the geological model built from the earlier Jetstream wells.”