Pulsar Helium Inc. (“Pulsar” or the “Company”), a leading helium project development company, is pleased to announce that down-hole testing equipment is scheduled to mobilise to site on Monday, February 24th. The tools consist of an optical televiewer and LithoScanner, both of which will be run on both the Jetstream #1 and #2 appraisal wells.
Summary
Down-Hole Testing: Involving optical televiewer and LithoScanner tools, is scheduled to commence on Monday, February 24th. The data collection process, expected to take approximately two days, will provide valuable insights into reservoir characteristics. Jetstream #1 was deepened to a total depth (TD) of 5,100 feet (1,555 meters), while Jetstream #2 reached a TD of 5,638 feet (1,718 meters).
Next Steps: Flow rate and bottom-hole pressure testing will occur in March 2025 once well head pressures are anticipated to have stabilised.
The flow testing will be conducted over a period of up to two weeks for each well. All data will then be sent to an independent resource estimator for a resource update, and to Chart Industries for production scenario assessment and conceptual processing facility design.
Expanded Reservoir Potential
Elevated helium values were observed in both Jetstream #1 and #2 over a gross vertical thickness of 3,350 and 3,178 feet (1,021 and 969 meters), respectively. This consistency between wells suggests that the interpreted geophysical data accurately indicates that the helium-bearing zone extends beyond 2,200 feet (671 meters), which was the total depth of Jetstream #1 before deepening. The increased gross helium-bearing interval has the potential to enhance the project’s resource potential, highlighting the significance of the Topaz Project.
Strategic Significance
The Jetstream #1 appraisal well reached a TD of 2,200 feet (671 meters) on February 27, 2024. This identified top-tier helium concentrations of up to 14.5%, significantly exceeding the widely accepted economic threshold of 0.3%. Moreover, CO2 concentrations exceeded 70%, which is expected to further enhance the project’s economics. The recent deepening of Jetstream #1 and the completion of Jetstream #2 are crucial steps in advancing Pulsar’s strategy to meet the growing global demand for helium as the Company progresses toward its production objective.