Pulsar Helium (PLSR) has successfully completed the deepening operation for the Jetstream #1 appraisal well at its flagship Topaz Project in Minnesota, USA.
The drilling operation reached a depth of 5,100 feet on January 11th, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond.
Jetstream #1 previously flowed up to 14.5% helium concentration.
Initial data from the latest drilling supports the idea of a larger helium-bearing reservoir zone, with multiple helium zones encountered throughout the deepening operation from 2,200 feet to 5,100 feet. Mud log gas levels containing up to 7.24% helium were encountered during drilling. These samples are diluted by atmospheric air due to the rotary air drilling method used. Unaffected samples for laboratory analysis will be acquired in due course.
In addition, down-hole wireline logging data was acquired over January 11th-12th. This data will be integrated with additional downhole data that will be acquired over the coming weeks.
Additional data collection, including the deployment of an optical televiewer, tests for pressure and flow, will be conducted after the completion of drilling of Jetstream #2.
The drill rig is now moving onto the Jetstream #2 pad, with spudding anticipated around January 17th 2025.
"The deepening of the Jetstream #1 well has been a resounding success, exceeding our expectations and reinforcing our confidence in the Topaz Project's potential,” said Thomas Abraham-James, chief executive of Pulsar Helium.
“The expanded reservoir height and encouraging helium readings are testament to the quality of our geological model and the expertise of our team. As we move forward with Jetstream #2 and additional testing, we are increasingly optimistic about the project's ability to contribute significantly to the global helium supply chain. This success not only validates our exploration strategy but also positions Pulsar Helium as a key player in addressing the critical demand for helium in various high-tech industries."
View from Vox
The deepening operation has revealed promising indications of an expanded helium-bearing reservoir. The identification of multiple helium-bearing zones over the interval from 1,750 - 5,100 feet could indicate a significant potential increase in reservoir height over previous estimates. Such an outcome would be good news indeed for Pulsar, as all eyes turn, for the moment, to the drilling of Jetstream #2. Will it be as successful as Jetstream #1?