Pulsar Helium Announces Commencement of Plant Engineering Study for Helium Production

Core Viewpoint - Pulsar Helium Inc. has signed a Limited Notice to Proceed (LNTP) with Chart Industries, marking a significant step towards the development of the Topaz helium project in Minnesota, USA, which aims to accelerate project timelines and enhance production capabilities [1][3][5]. Group 1: Project Development - The LNTP allows Chart Industries to commence early engineering and procurement activities for the helium recovery and CO₂ capture facility at Topaz, building on a previous Letter of Intent signed in November 2024 [1][4]. - The LNTP enables immediate action on the design and procurement for the Topaz helium production facility, including placing a deposit on a full carbon capture unit [4][5]. - Pulsar aims to initiate helium production at Topaz by aligning critical project development components, with a final investment decision targeted for 2026 [5][8]. Group 2: Well Performance - Recent flow testing at the Jetstream 1 well yielded a peak gas flow rate of approximately 1.3 million cubic feet per day (MMcf/d), confirming a clean helium-rich gas stream [5][6]. - The gas produced was dry with no formation water, indicating a simplified production stream and minimal need for dehydration equipment, which can lower processing complexity and costs [6][8]. - The well results provide critical data for refining the design specifications of the helium plant and CO₂ capture system [7][8]. Group 3: Strategic Partnership - The collaboration with Chart Industries is expected to expedite the project timeline and reduce costs by minimizing the need for third-party engineering [9]. - Chart's engineering team will utilize data from the Jetstream 1 well to guide final equipment selection for the helium and CO₂ processing facility [7][9]. - The partnership positions Pulsar to leverage Chart's expertise in gas processing technology, enhancing the overall project execution strategy [3][5]. Group 4: Future Plans - Pulsar has executed a multi-well drilling contract to appraise the broader field, with up to ten new core wells scheduled to begin drilling in late September 2025 [8][11]. - The insights gained from the upcoming drilling campaign will further delineate the helium reservoir and support reserves estimation [8][11]. - The company is focused on becoming a leading helium producer in response to growing global demand for helium [12].