Pulsar Helium Announces an Update for Well-Testing at the Topaz Helium Project in Minnesota
Pulsar Helium (PSRHF) has provided an update on well-testing activities at its Topaz helium project in Minnesota. The company reported encouraging well-head pressure readings of 122 PSIG at Jetstream #1 and 151 PSIG at Jetstream #2, with the latter exceeding Jetstream #1's February 2024 pressure of 145 PSIG that achieved a flow rate of 821,000 cubic feet per day.
During testing, drilling fines (rock dust) were discovered within fractures and coating the wellbore wall, partially restricting gas flow. The company has conducted preliminary clean-up operations on both wells, showing improved flow results and confirming the drilling fines can be removed. Further flow testing will resume after complete clean-up, expected in 6-10 weeks.
Pulsar Helium (PSRHF) ha fornito un aggiornamento sulle attività di test dei pozzi nel suo progetto Topaz di elio in Minnesota. La società ha riportato letture incoraggianti della pressione alla testa del pozzo di 122 PSIG per Jetstream #1 e 151 PSIG per Jetstream #2, quest'ultima superiore ai 145 PSIG registrati da Jetstream #1 a febbraio 2024, quando si è raggiunto un flusso di 821.000 piedi cubi al giorno.
Durante i test, sono state rilevate particelle di perforazione (polvere di roccia) all'interno delle fratture e che rivestivano la parete del pozzo, limitando parzialmente il flusso di gas. La società ha effettuato operazioni preliminari di pulizia su entrambi i pozzi, ottenendo un miglioramento del flusso e confermando che le particelle di perforazione possono essere rimosse. I test di flusso riprenderanno dopo la pulizia completa, prevista tra 6 e 10 settimane.
Pulsar Helium (PSRHF) ha proporcionado una actualización sobre las actividades de prueba de pozos en su proyecto de helio Topaz en Minnesota. La compañía reportó lecturas alentadoras de presión en la cabeza del pozo de 122 PSIG en Jetstream #1 y 151 PSIG en Jetstream #2, siendo esta última superior a los 145 PSIG de Jetstream #1 en febrero de 2024, cuando se logró una tasa de flujo de 821,000 pies cúbicos por día.
Durante las pruebas, se descubrieron finos de perforación (polvo de roca) dentro de las fracturas y recubriendo la pared del pozo, restringiendo parcialmente el flujo de gas. La compañía ha realizado operaciones preliminares de limpieza en ambos pozos, mostrando resultados mejorados de flujo y confirmando que los finos de perforación pueden ser removidos. Las pruebas de flujo continuarán después de la limpieza completa, prevista en 6 a 10 semanas.
Pulsar Helium (PSRHF)는 미네소타에 위치한 Topaz 헬륨 프로젝트의 시추정 시험 활동에 대한 업데이트를 제공했습니다. 회사는 Jetstream #1에서 122 PSIG, Jetstream #2에서 151 PSIG의 유망한 정압 압력 수치를 보고했으며, 후자는 2024년 2월 Jetstream #1의 145 PSIG를 초과했으며 당시 일일 유량은 821,000 입방피트였습니다.
시험 중에 시추 미세먼지(암석 가루)가 균열 내와 정압벽에 코팅되어 가스 흐름을 부분적으로 제한하는 것이 발견되었습니다. 회사는 두 시추정 모두에 대해 예비 청소 작업을 수행하여 흐름이 개선됨을 확인했으며 시추 미세먼지를 제거할 수 있음을 입증했습니다. 완전한 청소 후 6~10주 내에 추가 유량 시험이 재개될 예정입니다.
Pulsar Helium (PSRHF) a fourni une mise à jour sur les activités de test des puits de son projet d'hélium Topaz dans le Minnesota. La société a rapporté des lectures encourageantes de la pression en tête de puits de 122 PSIG pour Jetstream #1 et 151 PSIG pour Jetstream #2, cette dernière dépassant les 145 PSIG de Jetstream #1 en février 2024, qui avait atteint un débit de 821 000 pieds cubes par jour.
Lors des tests, des fines de forage (poussière de roche) ont été découvertes dans les fractures et recouvrant la paroi du puits, limitant partiellement le flux de gaz. La société a réalisé des opérations préliminaires de nettoyage sur les deux puits, montrant une amélioration du débit et confirmant que les fines de forage peuvent être éliminées. Les tests de débit reprendront après un nettoyage complet, prévu dans 6 à 10 semaines.
Pulsar Helium (PSRHF) hat ein Update zu den Testbohrungen seines Topaz-Heliumprojekts in Minnesota veröffentlicht. Das Unternehmen meldete ermutigende Druckwerte am Bohrlochkopf von 122 PSIG bei Jetstream #1 und 151 PSIG bei Jetstream #2, wobei Letzterer den Druck von 145 PSIG bei Jetstream #1 im Februar 2024 übertraf, bei dem eine Förderrate von 821.000 Kubikfuß pro Tag erreicht wurde.
Während der Tests wurden Bohrfeinstaub (Gesteinspartikel) in den Rissen und an der Bohrlochwand entdeckt, die den Gasfluss teilweise einschränkten. Das Unternehmen führte vorläufige Reinigungsmaßnahmen an beiden Bohrlöchern durch, die verbesserte Flussergebnisse zeigten und bestätigten, dass der Bohrfeinstaub entfernt werden kann. Weitere Flusstests werden nach vollständiger Reinigung, die in 6 bis 10 Wochen erwartet wird, wieder aufgenommen.
- Well-head pressure readings show encouraging results with Jetstream #2 at 151 PSIG, exceeding previous successful levels
- Preliminary clean-up operations demonstrated that drilling fines are mobile and removable
- Both wells achieved stable and consistent flow rates under natural flow and compression despite restrictions
- Drilling fines are currently restricting gas flow in both wells
- Flow testing operations delayed by 6-10 weeks for clean-up completion
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CASCAIS, Portugal, April 28, 2025 (GLOBE NEWSWIRE) --
Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) (“Pulsar” or the “Company”), a primary helium development company, announces an update for well-testing activities at Jetstream #1 and Jetstream #2 at its flagship Topaz project in Lake County, Minnesota.
Pressure and flow testing operations were conducted on the Jetstream #1 and #2 appraisal wells with well-head pressure at both being highly encouraging, reaching 122 PSIG* at Jetstream #1 and 151 PSIG at Jetstream #2. Well-head pressure at Jetstream #2 is greater than Jetstream #1 was in February 2024 (145 PSIG) when it achieved a flow rate of 821,000 cubic feet per day, under well-head compression.
During flow testing activities, it was discovered that drilling fines (rock dust) created by the air drilling method (that pulverizes the rock) were present within fractures and partially coating the wellbore wall. The creation of drilling fines is commonplace when air drilling Although gas flow may be restricted, pressure communication still occurs (albeit also constrained) which is why the Company was unaware of the restricted flow until testing commenced.
The Company has performed a preliminary clean-up on both wells to mobilise the drilling fines, achieving improved flow results, demonstrating that the drilling fines are mobile and can be removed. Despite the currently restricted conditions, stable and consistent flow rates were achieved under with both wells flowing natural flow and on compression.
Further flow testing of the Jetstream wells will recommence when clean-up of the wells is complete and the drilling fines have been removed, all of which are anticipated to be completed in the next 6 - 10 weeks.
Thomas Abraham-James, President & CEO of Pulsar, commented:
“We are pleased with these preliminary findings and look forward to being able to resume flow testing when the rock dust has been removed from the wells. Our technical team is taking the necessary measures to complete the clean-up and we will advise investors as soon as these works are complete and when testing will be resumed.”
*PSIG = Pounds per Square Inch Gauge. Indicating how much pressure is above or below the local atmospheric pressure.
About the Topaz Project
The Topaz project is located in northern Minnesota, USA where Pulsar is the first mover and holds exclusive leases. Drilling at the Jetstream #1 appraisal well has now reached total depth (“TD”) of 5,100 feet (1,555 metres) on January 11, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond. The Jetstream #1 appraisal well previously reached TD of 2,200 feet (671 metres) on February 27, 2024, identifying top-tier helium concentrations of up to
On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
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About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release and the interview contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the completion of the flow testing and pressure build up tests of Jetstream #1 and Jetstream #2, the timing of completion of the flow testing and pressure testing; the potential impact of the drill results, flow testing and pressure testing on the deepening of Jetstream #1, the drilling Jetstream #2 on the next iteration of the resource estimate; the potential of CO2 as a valuable by-product of the Company’s future helium production; and the potential for future wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals.
No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance.
Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.
Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in completing the flow testing and pressure testing of Jetstream #1 and Jetstream #2, in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that flow-testing, pressure testing and drill costs may be higher than estimates ; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the AIM Admission Document published on October 14, 2024 found on the Company’s web site at https://pulsarhelium.com/investors/aim-rule-26/default.aspx.
Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
FAQ
What are the current well-head pressure readings for Pulsar Helium's (PSRHF) Jetstream wells at Topaz?
How long will the clean-up operations take for PSRHF's Jetstream wells at Topaz?
What flow rate did PSRHF's Jetstream #1 achieve in February 2024?
What is causing the restricted flow in PSRHF's Topaz helium wells?
