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Pulsar Helium reports pressurised gas at sixth Topaz project well

ALN

Pulsar Helium Inc on Monday said its Jetstream #6 appraisal well, at the flagship Topaz project in Minnesota, has intersected a pressurised gas zone.

The White Rock, Canada-based resource company, which is targeting helium in the US and Greenland, said the gas zone was encountered at a depth of approximately 1,287 feet, with a preliminary bottom-hole pressure of approximately 576 pounds per square inch.

It said visible gas influx was observed during drilling operations, and noted that the Jetstream wells have maintained a 100% success rate of intersecting pressurised gas.

The Topaz helium project is a helium exploration opportunity located in Minnesota. Six appraisal wells have been drilled at the site.

‘Achieving pressurised gas intersections in every Jetstream appraisal well drilled so far speaks to the strength of the geological model we’re developing at Topaz,’ said Chief Executive Officer Thomas Abraham-James. ‘Jetstream #6 is an important step-out well that is 1.3 miles to the southwest from the discovery well, and seeing consistent results at this distance gives us confidence as we transition into the well testing phase.

‘Our focus now is on building a high-quality technical dataset that will allow us to better understand the scale and characteristics of this system as we continue advancing the project.’

Pulsar Helium said it is preparing to start a coordinated testing programme on Jetstream #3 and #4, which is expected to start on or around Sunday.

The programme is planned to include an initial flow-testing phase followed by a pressure build-up period, with each test expected to run for approximately six weeks.

Shares in Pulsar Helium were up 0.8% at 97.50 pence on Monday afternoon in London.

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