Core Viewpoint - Pulsar Helium Inc. has successfully encountered pressurized gas zones in its Jetstream 5 appraisal well at the Topaz Project, reinforcing confidence in the helium-rich reservoir's extent and potential [3][5][7]. Drilling Operations - Jetstream 5 is located approximately 1.8 miles (3 kilometers) northeast of the discovery well, extending the appraisal footprint [7]. - Gas was encountered at depths of approximately 837 feet (255 meters) and 1,481 feet (451 meters), with a preliminary bottom-hole pressure of ~662 psi, indicating a strongly pressurized system [7][8]. - Continuous HQ core drilling is being utilized to maximize geological sample recovery, with operations ongoing 24 hours a day [9]. Success Rate - All five Jetstream appraisal wells drilled to date have encountered pressurized gas, achieving a 100% success rate, which underscores the continuity of the helium-bearing reservoir [7][9]. Well-Testing and Data Collection - Well-testing has been conducted at Jetstream 3 and 4, with data collected for interpretation, including formation microresistivity imaging and other logging techniques [11][12]. - The next phase of appraisal work will include flow testing and gas sample collection for laboratory analysis, expected to occur in January 2026 [12]. Project Overview - The Topaz Project is located in northern Minnesota, where Pulsar holds exclusive leases and is the first mover in helium exploration [13]. - Previous wells at Topaz have confirmed high helium concentrations, averaging 8.1% in Jetstream 1 and 5.6% in Jetstream 2, indicating a high-quality helium resource [13].

Core Viewpoint - Pulsar Helium Inc. is advancing its Topaz helium project in Minnesota, having secured a drilling contract with Timberline Drilling Inc. to drill up to ten wells, with operations expected to start in late September 2025. Recent flow testing results from the Jetstream 1 well indicate significant helium production potential, flowing over 1.3 million cubic feet per day under compression, highlighting the reservoir's exceptional capabilities [1][3][5]. Operational Update - The company has executed a Master Services Agreement with Timberline Drilling Inc. for a core drilling program at the Topaz project, targeting helium-bearing formations at depths of approximately 3,937 feet (1,200 meters) [4][5]. - Drilling is set to begin in late September 2025, with continuous operations planned to efficiently complete the program [5][6]. - The Jetstream 1 well achieved a peak gas flow rate of approximately 1.3 million cubic feet per day (MMcf/d) during flow testing, confirming a clean, helium-bearing gas stream with no formation water [5][10]. Drilling Program Details - The drilling program aims to delineate the extent and productivity of the helium reservoir at Topaz, with up to ten wells planned to provide flexibility in targeting optimal production areas [8]. - Pulsar has budgeted for the program and made an advance payment of US$70,000 for the blowout preventer to secure rig and crew availability [8]. - All necessary permits are in place for the initial three well locations [8]. Flow Test Results - Jetstream 1 was flow-tested with a peak gas flow rate of approximately 1.3 million cubic feet per day, significantly exceeding previous benchmarks [10][11]. - Jetstream 2 exhibited an initial gas flow of roughly 40–50 thousand cubic feet per day, with a strong initial shut-in pressure, indicating high reservoir potential despite some flow restrictions [12][14]. Strategic Partnerships - Pulsar is collaborating with Chart Industries to model production scenarios for helium and co-produced CO₂, utilizing data from Jetstream 1 to guide the design of gas processing and liquefaction equipment [11][12].