Core Insights - Pulsar Helium Inc. has appointed Cliff Cain as Manager of Commercial & External Affairs, enhancing its leadership team and commercial strategy [3][5][10] - The company has successfully completed drilling at Jetstream 4, reaching a total depth of 3,000 feet (914 meters) and encountering promising helium-bearing intervals [6][15] - The drilling rig is being relocated to Jetstream 5, with a target depth of 5,000 feet (1,524 meters), indicating ongoing commitment to an aggressive multi-well drilling campaign [16][21] Leadership Appointment - Cliff Cain brings over 15 years of experience in the helium and specialty gas industries, having negotiated over $100 million in gas supply agreements [9][12] - His role will focus on strengthening Pulsar's market positioning and transitioning the company from exploration to development and revenue generation [10][11] Drilling Progress - Jetstream 4 drilling encountered a bottom-hole pressure of approximately 887 psi at a depth of 1,897 feet (578 meters), an increase from previously reported levels [15] - The company plans to conduct simultaneous testing on Jetstream 3 and 4 to optimize capital deployment and accelerate data collection [17] Project Overview - The Topaz project is located in northern Minnesota, where Pulsar holds exclusive leases and has successfully drilled multiple appraisal wells [21][24] - Recent flow tests from Jetstream 1 indicated a peak gas flow rate of approximately 1.3 million cubic feet per day with a sustained helium content of 7–8% [21] Corporate Developments - Strand Hanson Limited has been appointed as the sole broker for the company, while ShareTalk Ltd will assist in investor communications for a fee of £3,000 over six months [19][20] - The agreement with ShareTalk can be terminated by either party without notice, ensuring flexibility in investor relations [20]

Altura Energy Successfully Recompletes Two Initial Wells and Is Producing and Selling Helium Through Onsite Processing Plant as of November 19, 2025November 20, 2025 7:30 AM EST | Source: Altura Energy Corp.Vancouver, British Columbia--(Newsfile Corp. - November 20, 2025) - Altura Energy Corp. (TSXV: ALTU) (FSE: Y020) (the "Company") is pleased to announce the initial two recompletions were successful and resulted in the re-establishment of helium flow to the onsite processing plant. Once proc ...

CALGARY, Alberta, Nov. 18, 2025 (GLOBE NEWSWIRE) -- Helium Evolution Incorporated (TSXV:HEVI) ("HEVI" or the "Company"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company’s interim condensed financial statements and associated management’s discussion and analysis for the three and nine months ended September 30, 2025 (the “Q3 Report”). Complete details of the Q3 Report are available on SEDAR+ at www.sedarplus.ca, and ...

TORONTO, Nov. 18, 2025 (GLOBE NEWSWIRE) -- VVC Exploration Corporation, dba VVC Resources ("VVC" or the "Company") (TSX-V: VVC; OTC: VVCVF) announces that, after a project review, it is strategically restructured its mining projects in Mexico. This project review encompassed multiple considerations, including ongoing maintenance costs, permitting authorizations, political climate, safety, upside potential and financeability of each project and probability of achieving the projects potential. After this re ...

Core Viewpoint - Pulsar Helium Inc. has successfully commenced drilling the Jetstream 4 well, encountering pressurized gas, which indicates a strong gas reservoir and reinforces the geological model established from previous wells [3][5][8]. Drilling Operations - The Jetstream 4 well began drilling on November 9, 2025, and has reached a depth of 1,457 feet (444 meters) with a calculated bottom-hole pressure of approximately 674 psi [3][8]. - The well is located 0.4 miles (~600 meters) south of Jetstream 3 and 0.1 miles (~250 meters) north of Jetstream 1 at the Topaz helium project in Minnesota [7]. - Jetstream 4 has a planned total depth of approximately 3,000 feet (914 meters) and is being drilled using a coring method with a hole diameter of 3.8 inches (96 mm) [7][9]. Gas Encounter and Pressure Readings - Gas-bearing intervals were encountered at depths of approximately 1,187-1,277 feet (362-389 meters) and 1,327-1,437 feet (404-438 meters) [7][8]. - The bottom-hole pressure of 674 psi at 1,457 feet (444 meters) is a strong indicator of a pressurized reservoir, complementing the 960 psi recorded in Jetstream 3 [7][10]. Future Steps and Testing - Upon reaching total depth, both Jetstream 3 and Jetstream 4 will undergo comprehensive evaluations, including open-hole wireline logs and flow testing [10]. - Laboratory analysis will determine gas composition and helium concentrations, including testing for helium-3, which was previously detected in Jetstream 1 [10][11]. Project Overview - The Topaz project is located in northern Minnesota, where Pulsar holds exclusive leases and is the first mover in the area [11][15]. - Previous wells, including Jetstream 1 and Jetstream 2, have successfully penetrated helium-bearing reservoirs, with Jetstream 1 achieving a peak gas flow rate of approximately 1.3 million cubic feet per day with a sustained flow of 7-8% helium [11].

Core Points - Pulsar Helium Inc. will host a live investor presentation on November 25, 2025, featuring CEO Thomas Abraham-James and Scientific Helium-3 Advisor Dr. Peter Barry [1][2] - The presentation will include a virtual site visit to the Topaz Project in Minnesota, showcasing ongoing drilling processes and company updates, followed by a live Q&A session [2] - The event is open to all existing and potential shareholders, with questions accepted before and during the presentation [3] Company Overview - Pulsar Helium Inc. is publicly traded on the AIM market of the London Stock Exchange, the TSX Venture Exchange, and OTCQB, with tickers PLSR and PSRHF [6] - The company’s portfolio includes the flagship Topaz helium project in Minnesota and the Tunu helium project in Greenland, both identified as primary helium occurrences not associated with hydrocarbon production [6][7]

Core Insights - U.S. Energy Corporation reported operational progress in Q3 2025, particularly in advancing its Montana industrial gas project, with a focus on upstream development, infrastructure, and carbon management [2][3] - The company aims to unlock new revenue streams through the construction of a gas processing facility and carbon initiatives, enhancing oil recovery and maximizing value realization [2][3] Upstream Development - The company drilled two additional industrial gas wells in Q3 2025, totaling three high-deliverability wells in the Duperow Formation, achieving a combined peak rate of 12.2 million cubic feet per day (MMcf/d) [7] - The wells have a composition of approximately 0.5% helium and 85% CO₂, with flows restricted to preserve reservoir value until infrastructure is operational [7] Infrastructure Development - The design for the initial gas processing facility is complete, with construction expected to begin in early 2026 [7] - The company acquired 80 acres in Toole County, MT for $240,000 to serve as the facility site, with construction of the infill gathering system scheduled for early 2026 [7] Carbon Management Initiatives - The company submitted an EPA Monitoring, Reporting, and Verification (MRV) plan in October 2025, with approval anticipated by Spring-Summer 2026, enabling the capture of federal carbon credits [7] - The company is progressing with near-term enhanced oil recovery (EOR) projects using recycled CO₂ on legacy oil assets [7] Financial Results - U.S. Energy reported total hydrocarbon production of approximately 35,326 barrels of oil equivalent (BOE) in Q3 2025, with total oil and gas sales of approximately $1.7 million, down from $5.0 million in Q3 2024 [13] - Lease operating expenses (LOE) for Q3 2025 were approximately $1.0 million, or $29.36 per BOE, compared to $3.1 million, or $28.95 per BOE, in the prior year [14] - The company reported a net loss of $3.3 million, or a loss of $0.10 per diluted share, in Q3 2025, compared to an adjusted EBITDA of ($1.3) million [16][24] Resource Report - An industrial gas resource report indicated 1.28 billion cubic feet (BCF) of net helium resources and 443.8 BCF of net CO₂ resources in the Kevin Dome asset [8] - The report reflects gas concentrations of 0.4% - 0.5% helium and 84% - 85% CO₂, consistent with the company's recent development activities [8] Balance Sheet and Liquidity - As of September 30, 2025, U.S. Energy had approximately $11.4 million in available liquidity, providing flexibility for growth initiatives [10] - The company ended the third quarter with a cash balance of $1.4 million and no outstanding debt [10][11]

Core Viewpoint - Pulsar Helium Inc. has successfully completed drilling the Jetstream 3 appraisal well at its Topaz Project in Minnesota, indicating strong potential for helium production in North America [3][5][6]. Group 1: Drilling Operations - The Jetstream 3 well reached a total depth of 3,507 feet (1,069 meters) and successfully penetrated the entire interpreted helium-bearing interval [7]. - The drilling campaign includes up to 10 wells aimed at defining the geometry, extent, and productivity of the helium reservoir at Topaz [5]. - Drilling of Jetstream 4 commenced on November 9, 2025, with a target depth of 3,000 feet (914 meters) [7]. Group 2: Pressure Readings and Reservoir Potential - Initial bottom-hole pressure readings from Jetstream 3 exceeded expectations, with a calculated pressure of approximately 960 psi, indicating a robust reservoir [7]. - For comparison, Jetstream 1 and Jetstream 2 had well-head pressures of 185 psi and 205 psi, respectively, highlighting the significant improvement in pressure at Jetstream 3 [7]. Group 3: Future Plans and Assessments - The company plans to conduct a comprehensive evaluation of Jetstream 3, including geological and petrophysical data collection through open-hole wireline logs [7]. - A Preliminary Economic Assessment (PEA) is expected to be conducted in H1 2026 as part of the company's commitment to realizing Topaz's production potential [5].

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $12.03, which is above the midpoint of the full-year fiscal guidance range [5] - Operating income margin was 23.7%, and return on capital (ROC) was 10.1%, both in line with commitments [5] - The EPS decreased by $0.40 or 3% from the prior year, primarily due to a 4% headwind from LNG divestiture and a 2% headwind from project exits [16][19] Business Line Data and Key Metrics Changes - The Americas segment results were down 3%, impacted by a one-time asset sale and project exits, but offset by strong non-helium pricing and productivity improvements [17] - Asia's results were relatively flat, with lower helium demand offset by favorable pricing and productivity [18] - Europe's results improved by 4%, driven by non-helium merchant pricing and productivity, despite lower helium contributions [18] Market Data and Key Metrics Changes - The company faced a 2% headwind from reduced global helium demand, affecting overall volume [15] - The market for green ammonia is developing, with expectations for significant demand growth by 2030 [11][12] Company Strategy and Development Direction - The company aims for high single-digit annual EPS growth and plans to optimize its large projects portfolio, including the NEOM project [6][7] - Capital expenditures are expected to be reduced to approximately $2.5 billion per year after completing several large projects, allowing for ongoing maintenance and investments in traditional industrial gas projects [7][10] - The company is focusing on productivity improvements and has identified 3,600 headcount reductions, translating to approximately $250 million in annual cost savings [8] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from helium headwinds and a sluggish macroeconomic environment but remains optimistic about achieving growth through new asset contributions and pricing actions [19][21] - The company expects to be modestly cash flow positive in fiscal year 2026 and aims to stay cash flow neutral through 2028 [21] Other Important Information - The NEOM project is about 90% complete, with ammonia production expected to start in 2027 [11] - The company is evaluating proposals to divest the carbon sequestration piece of the Louisiana project, linking it to potential hydrogen supply agreements [24][25] Q&A Session Summary Question: Evaluation of Carbon Capture in Louisiana Project - The company is considering selling the carbon capture piece and potentially supplying hydrogen to the buyer [24][25] Question: Alberta Project Cost Overruns - The company has a long-term commitment to supply hydrogen to a major customer, necessitating the completion of the project despite cost overruns [26][27] Question: Headcount Reduction Target - The target of 20,000 headcount is expected to be the new base, with ongoing efforts to optimize workforce levels [31] Question: CapEx for Louisiana Project - The company will provide CapEx data when updating the project, emphasizing that no off-take deals mean no final investment decision [32] Question: Growth Drivers for Next Year - Expected growth will come from new assets and pricing actions, with a minimal volume growth forecast due to macroeconomic headwinds [37][39] Question: Helium Market Outlook - The company anticipates continued headwinds from helium but expects stabilization in 2027 [40][41] Question: NEOM Project Commercialization - The company plans to commercialize ammonia initially, with expectations for a growing market for green ammonia [44][45] Question: Equity Affiliates Income - The Mexican joint venture saw improvements, while contributions from the Jazan joint venture are expected to pick up in 2026 [46][47] Question: Decision Timeline for Louisiana Project - The company is working on advanced negotiations and aims to communicate updates before the end of the year [50][53] Question: CapEx Flexibility - The CapEx forecast for fiscal 2026 is between $3.5 billion and $4 billion, with no significant changes expected [91][92]

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $12.03, which is above the midpoint of the full-year fiscal guidance range [4] - Operating income margin was 23.7%, and return on capital (ROC) was 10.1%, both in line with commitments [4] - The EPS decreased by $0.40 or 3% from the prior year, primarily due to a 4% headwind from LNG divestiture and a 2% headwind from project exits [16][19] Business Line Data and Key Metrics Changes - The Americas segment results were down 3%, impacted by a one-time asset sale and project exits [17] - Asia's results were relatively flat, with lower helium offset by favorable on-site contributions [18] - Europe's results improved by 4%, driven by non-helium merchant pricing and productivity [18] Market Data and Key Metrics Changes - The company faced a 2% headwind from reduced global helium demand, affecting overall volume [14] - Pricing for non-helium merchant products was favorable across all regions, helping to offset some volume declines [14] Company Strategy and Development Direction - The company aims for high single-digit annual EPS growth in 2026, despite anticipated helium headwinds [5] - Key priorities include optimizing the large projects portfolio, particularly the NEOM project, and balancing capital allocation [5][6] - Capital expenditures are expected to be reduced to approximately $2.5 billion per year after completing several large projects [6] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to staffing levels similar to 2018, adjusted for employee growth, to support new assets [7] - The company is focused on improving productivity and pricing actions to counteract inflation and lower capital expenditure levels [8] - Management anticipates a modestly cash flow positive position in fiscal year 2026, with a commitment to remain cash flow neutral through 2028 [20] Other Important Information - The company returned $1.6 billion to shareholders in fiscal 2025, marking the 43rd consecutive year of increasing dividends [4] - The NEOM project is about 90% complete, with ammonia production expected to start in 2027 [11] Q&A Session Summary Question: Evaluation of carbon capture piece of the Louisiana project - Management explained that they are evaluating proposals to divest the carbon capture piece while still considering the project's future [24][25] Question: Cost overruns in Alberta project - Management confirmed a long-term commitment to supply hydrogen to a major customer, necessitating the project's completion despite cost overruns [26][27] Question: Employee headcount target - The target of 20,000 headcount is expected to be the new base, with ongoing efforts to rationalize the workforce [31] Question: CapEx remaining for Louisiana project - Management indicated that they would provide data on remaining CapEx when updating the project, emphasizing the need for off-take agreements [33] Question: Growth drivers for next year - Management expects contributions from new assets and productivity improvements to drive growth, with a focus on pricing actions [37][38] Question: Helium industry outlook - Management noted that while there may be a decline in helium demand in 2027, they expect stabilization thereafter [40][42] Question: NEOM project commercial options - Management stated that they will need to commercialize the product as ammonia initially, with expectations for growth in green ammonia sales over time [46] Question: Equity affiliates income growth - Management highlighted strong performance from the Mexican joint venture, with expectations for flat contributions in fiscal year 2026 [48] Question: Decision timeline for Louisiana project - Management confirmed that they are working on advanced negotiations and expect to communicate updates by the end of the year [52][56] Question: CapEx forecast changes - Management clarified that the CapEx forecast for fiscal 2026 was adjusted to $4 billion based on a refined bottom-up review [62]