Pressure is crucial
After a seasonal break of several weeks, Pulsar Helium Inc (TSXV:PLSR; OTCQB:PSRHF; FRA: Y3K) is continuing work on its successful Jetstream #1 helium well in Minnesota. Final testing of the well will be conducted over a period of approximately two weeks.
Initially, additional data will be collected from the bottom of the well. Subsequently, the wellhead and sidewalls of the well will be prepared for final flow tests, including pressure build-up tests.
Conclusion: Pulsar Helium Inc. is entering two crucial weeks. The company reported one of the richest helium discoveries in the world in mid-March, measured by the confirmed helium concentration of 13.8% – in the US state of Minnesota, which no expert had previously had on their radar. The task now is to show that the well can also produce economic quantities of gas. The high helium content is important, but just as crucial is the question of how high the pressure is at which the gas comes to the surface and how quickly this pressure may drop. It is precisely these questions that will be answered over the next two weeks, which will also allow a preliminary assessment of the economic viability. It is known from the historic accidental discovery in 2011 that the system is pressurised. The company has repeatedly described the scene in which the gas came to surface and the pressure was sufficient to blow the drill core and the associated drilling fluid out of the borehole. The gas flow continued for four days with no discernible drop in pressure. The flow velocity of the gas was measured with an anemometer that was only designed for inland wind speeds. At the time, a maximum speed of 150 km/h was reached before the measuring device collapsed under the gas pressure.
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