Pulsar Helium Inc. (AIM/TSXV PLSR / A3EP2C) reports another interim success at its Topaz Helium Project in Minnesota. During the ongoing drilling of the Jetstream #4 well, the Company has again encountered gas-bearing zones at shallow depths. The drill hole is part of a multi-stage appraisal program aimed at systematically assessing the potential of the helium deposit.
Jetstream #4 was spudded on November 9 and has delivered a calculated bottomhole pressure of approximately 674 psi at a current depth of 1,457 feet (444 meters). Combined with previous results from Jetstream drilling, the Company sees this as further evidence of a naturally charged gas and helium reservoir underground. All Jetstream wells drilled to date at Topaz have encountered gas, which Pulsar considers a 100% success rate in the current program.
Pulsar Helium: Jetstream Wells Refine Topaz Reservoir Model
Jetstream #4 is located in the centre of the Topaz project, only about 0.4 miles (approx. 600 meters) south of Jetstream #3 and about 0.1 miles (250 meters) north of Jetstream #1. This allows the same structural area to be explored along a short profile to better understand the geometry and extent of the reservoir.
During drilling, two gas-bearing zones were encountered: an interval between 1,187 and 1,277 feet (362–389 meters) and another section from 1,327 to 1,437 feet (404–438 meters) depth. At the current reported depth of 1,457 feet, the bottom pressure was calculated at approximately 674 psi. This figure may change as Jetstream #4 is further deepened and final measurements of bottom pressure and wellhead pressure are available.
The new data supplements the previously known measurements from Jetstream #3, where Pulsar Helium had determined a bottom pressure of approximately 960 psi. Compared to previous campaigns (Jetstream #1 and #2 with significantly lower wellhead pressures), the Company interprets the latest measurements as an indication that a naturally pressurised gas and helium reservoir have formed in the Jetstream structure.
The Jetstream #4 well is designed to reach a planned final depth of approximately 3,000 feet (914 meters). Pulsar Helium expects the main gas zone to be at approximately 1,700 feet (518 meters), so the current interim results primarily reflect the upper parts of the target horizon.
Jetstream #4: Visible Gas and Core Drilling for Detailed Analyses
Technically, Pulsar Helium is relying on continuous HQ core drilling at Jetstream #4 with a core diameter of approximately 63.5 millimetres (borehole diameter approximately 96 millimetres). This approach enables high core recovery and provides extensive sample material for geological evaluation without significantly slowing down drilling progress.
During drilling operations, gas was repeatedly observed at the surface rising in the drilling fluids and appearing as bubbles at the mud surface, particularly when new drill pipes were being attached. From the field team’s perspective, this indicates an active gas flow from the formations being drilled as the well is deepened.
The combination of measured pressure, visible gas, and gas-bearing intervals at several depth levels strengthens the reservoir model that Pulsar has derived from previous Jetstream wells. Jetstream #4 is the second well in the current multi-well program, following Jetstream #3, which may eventually comprise up to ten wells on Topaz. The aim is to estimate the geometry, thickness, and productivity of the helium system at depth and to substantiate this for a later resource estimate.
CEO Thomas Abraham-James described the renewed encounter with pressurised gas in Jetstream #4 as a logical continuation of previous observations in the field. The high-pressure values at relatively shallow depths would further support the geological model derived from Jetstream #1 to #3. At the same time, he emphasised the team’s focus on careful data collection for the tests and laboratory analyses planned for the follow-up.
Next Steps for Pulsar Helium: Tests, Logs, and Helium-3 Analyses
Once Jetstream #4 has reached its final depth, Pulsar Helium plans to conduct a joint evaluation program for the two most recent exploration wells, Jetstream #3 and #4. To reduce costs, both holes will be tested in one go, rather than mobilising the necessary equipment multiple times.
A series of open-hole wireline logs are planned to collect detailed geological and petrophysical data. An optical televiewer will be used to map the borehole wall profile in high resolution, providing information on fracture directions, layer boundaries, and possible permeability zones. This will be followed by a controlled production test program, including pressure build-up tests, to characterise the reservoir’s producibility and pressure behaviour more accurately.
Parallel to the field tests, core and gas samples from Jetstream #3 and Jetstream #4 will be sent to specialised laboratories. There, the gas composition and helium content will be precisely determined. Pulsar Helium is paying particular attention to the rare isotope helium-3, which has already been detected in Jetstream #1. The analyses will show whether the new wells have a similar helium-3 signature, further confirming the uniqueness of the Topaz helium system.
