All necessary contracts have already been signed
The Minnesota Department of Transport has declared an end to seasonal spring road restrictions in the northern frost zone as of 12:01 a.m. local time today, Monday, May 6. This allows Pulsar Helium (TSXV: PLSR; FRA: Y3K) to resume work on its Topaz project after a forced break of several weeks. As the company announced today, field work on Jetstream #1 will resume immediately. The first step is to repair roads. Well logging and completion of the well, including flow tests with a pressure build-up program, are expected to follow in a week’s time. All necessary contracts have already been signed and suppliers and equipment have been secured for the upcoming work.
Thomas Abraham-James, President and CEO, commented: “My colleagues and I are delighted to receive the excellent data from Jetstream #1 and everything is in place for this. I look forward to updating the market with actual results as they come in.”
The Jetstream #1 exploration well had reached a total depth of 671 meters (2,200 feet) on February 27, with helium concentrations of up to 13.8% helium measured. Field activities were suspended during spring road restrictions that limit heavy truck traffic. Jetstream #1 is designed to be upgraded to future helium production without further drilling.
Pulsar enjoys the advantage of being the first mover in Minnesota. No other helium company has ever operated in the state, largely because Minnesota produces no oil or gas. The discovery of Pulsar Helium has literally catapulted Minnesota from obscurity to the forefront of future helium producers in the US. While 95% of the helium produced worldwide is a by-product of hydrocarbon production (natural gas), Jetstream#1 is a primary source of helium with only small traces of methane present. Typically, a helium concentration of 0.3% or more is considered economically attractive. The double-digit values measured by Pulsar Helium exceed those of its competitors by a factor of 10 to 20, although they generally do not provide any information on pressure or flow rates. This is precisely the special feature of Jetstream#1: the system is pressurized. The company wants to find out exactly how high this pressure is and what the exact composition of the gas mixture is during the upcoming flow tests.
We at www.goldinvest.de had Pulsar Helium on our radar even before the IPO. In particular, our two articles on December 14, 2023 )(price: CAD 0.34) and January 24, 2024 (price: CAD 0.38) drew attention to the opportunity at an early stage. Pulsar is currently trading at around CAD 1.30, which implies a market capitalization of just under CAD 100 million. Pulsar’s shares have also recently become tradable on the OTCQB in the USA and the shares can be delivered electronically via DTC, which favors lively trading.
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