Pulsar Helium (PLSR) will mobilise down-hole testing equipment to its Topaz Minnesota exploration and development project on Monday, February 24th.
The tools consist of an optical televiewer and LithoScanner, which will be run on both the Jetstream #1 and #2 appraisal wells.
The data collection process is expected to take approximately two days, and will provide valuable insights into reservoir characteristics.
Jetstream #1 was recently deepened to a total depth of 5,100 feet, while Jetstream #2 reached a target depth of 5,638 feet.
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.
Elevated helium values were observed in both Jetstream #1 and #2 over a gross vertical thickness of 3,350 and 3,178 feet, 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 Jetstream #1 appraisal well reached a target depth of 2,200 feet 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%. This is expected to 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.
View from Vox
Topaz is already looking very attractive, and might well be one of North America’s most significant recent helium studies. The planned down-hole work should provide additional data and allow Pulsar to begin to create an understanding of the project’s true economic potential.