Pulsar Helium Reports Jetstream #1 Flowing Over 1.3 Million Cubic Feet Per Day and Launches Multi-Well Drilling Program at Topaz
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CASCAIS, Portugal, Aug. 26, 2025 (GLOBE NEWSWIRE) -- Pulsar Helium Inc. ((AIM: PLSR, TSXV:PLSR, OTCQB:PSRHF) ("Pulsar" or the "Company"), a leading helium project development company, is pleased to provide the following operational update on its flagship Topaz helium project in Minnesota, USA. The Company has executed a drilling contract and Master Services Agreement ("MSA") with Timberline Drilling Inc. to drill up to ten wells, with drilling expected to commence in late September. Pulsar is also reporting results from recent flow testing of its Jetstream #1 and Jetstream #2 appraisal wells, that includes Jetstream #1 flowing over 1.3 million cubic feet per day under well-head compression.
Highlights:
- Jetstream #1, high flow under compression: The Jetstream #1 well was flow-tested using a wellhead compressor, which resulted in a peak gas flow rate of approximately 1.3 million cubic feet per day (MMcf/d). The well produced dry gas with no formation water, confirming a clean, helium-bearing gas stream. This successful test under compression provides critical data on the well's maximum deliverability for use in production facility design.
- Drilling contract secured: Pulsar has signed a master services agreements ("MSA") with Timberline Drilling Inc. to undertake a multi-well core drilling program at the Topaz project. The contract covers drilling of up to ten wells, targeting helium-bearing zones at depths up to ~3,937 feet (~1,200 meters). Drill depths will be guided by geological modeling and consistent with expectations for intersecting helium-rich zones. Drilling is scheduled to begin in late September 2025, with continuous 24/7 operations planned until program completion.
- Gas sampling data: Gas samples from Jetstream #1 have been collected over 9-day interval, for a total of 14 samples that have been sent for laboratory analysis.
- Chart Industries to model production: The Jetstream #1 dataset will be delivered to Chart Industries (NYSE:GTLS) in line with Pulsar's agreement with Chart. Chart's engineering team will perform production scenario modeling for helium and co-produced CO₂ to guide the design of gas processing and liquefaction equipment. With sufficient data now collected, no further flow testing is planned for Jetstream #1 at this time.
Thomas Abraham-James, President & CEO of Pulsar, commented: "We are thrilled to kick off our multi-well drilling campaign at Topaz in the coming weeks. This program aims to significantly expand our understanding of the helium reservoir and accelerate our path toward production. Crucially, as we map the reservoir's continuity, results will be plentiful, regular, and rich in insight - providing the granular detail and real-time analysis needed to successfully guide the program across our land position, target the most prospective locations, and unlock the full potential of this regional-scale opportunity. The outstanding result from Jetstream #1, which flowed substantial volumes of gas with minimal assistance, underscores the reservoir's exceptional potential. Armed with these well results and our partnership with Chart Industries on advanced processing solutions, we are well positioned to unlock Topaz's full value as a primary helium project."
Multi-Well Drilling Program: Timberline Drilling Contract
Pulsar has entered an MSA with Timberline Drilling Inc. ("Timberline") to carry out a core drilling program at the Topaz project. Under the agreement, Timberline will drill up to ten core wells targeting the helium-bearing formation encountered by the Jetstream wells, with each well anticipated to reach a depth of up to ~3,937 feet (~1,200 meters). This is interpreted to allow penetration of the entire helium reservoir in each location.
Drilling is slated to commence in late September 2025 at sites stepping out from the Jetstream #1 and #2 well locations. Timberline will mobilize a CS 3000 core drill rig for the campaign. Operations will run on a continuous 24/7 basis, with rotating crews, to efficiently complete the program. Core drilling will retrieve continuous rock samples through the target zones, providing high-quality geological data to further refine the subsurface model. A mudlogging system will be utilized and down-hole logs taken upon completion, in addition to pressure and flow readings.
Timberline is a specialist in surface and underground core drilling with extensive experience in North America. The firm operates a large fleet of drilling rigs and has a strong track record in safety and productivity. Timberline has drilled over 6.4 million feet (1,950 kilometers) of core in the past six years and operates approximately 85 drill rigs with more than 300 employees, reflecting its capacity to execute major drilling programs efficiently. All drilling operations will be conducted using a local crew mobilizing from Virginia MN, a 40min drive from Topaz, and all crew members returning home at the end of each shift, emphasizing Pulsar's commitment to employing local workforce. Pulsar's field representatives will designate each drill site and oversee operations throughout the campaign, ensuring alignment with the program objectives.
The drilling program's primary goal is to delineate the extent and productivity of the helium reservoir at Topaz. Data from these core wells, including gas shows, core samples, and downhole measurements, will enable Pulsar to map reservoir continuity between the well locations and to identify optimal areas for future production. Up to ten planned wells provide the Company with flexibility, allowing Pulsar to adjust locations as appropriate based on results obtained during the program. Pulsar has budgeted and prepared for the program, and an advance payment of US$70,000 for the blow out preventor (BOP) has been paid to secure the rig and crew availability. All relevant permits are also in place for the initial three planned well locations.
Flow Test Results and Analysis
Following the completion of drilling and deepening operations earlier this year, both Jetstream appraisal wells at Topaz underwent flow and pressure testing to evaluate their performance.
Jetstream #1 was drilled to a total depth of 5,100 feet (1,555 meters) in January 2025. Testing yielded a natural (unassisted) gas flow of ~501 thousand cubic feet per day on a 38/64″ choke at ~30 psi wellhead pressure, more than triple the peak rate recorded in 2024 from the shallower wellbore. A wellhead compressor was deployed to reduce the well's flowing pressure, in order to gauge maximum deliverability. Under compression, Jetstream #1's gas flow rate surged to a peak of approximately 1.3 million cubic feet per day (MMcf/d) (the highest observed rate). No water was produced during the flow test, the well flowed 100% gas, indicating a dry reservoir with no detectable formation water. The flowing pressure and rate data confirm that the reservoir can deliver significant gas volumes, especially when the wellhead pressure is artificially lowered. These results validate the outstanding productivity of the Topaz helium reservoir at this location, as the well's performance under compression far exceeded earlier benchmarks (for reference, a smaller-scale compression test in early 2024 yielded ~821 Mcf/d).
The comprehensive dataset from Jetstream #1's testing (flow rates, pressures, and gas composition samples) is now being utilized for development planning. Pulsar is working with Chart Industries, a leading provider of gas processing technology, under an agreement to design an integrated solution for helium production and CO₂ capture at Topaz. The new flow test data will feed into Chart's engineering studies to model a full-scale production scenario, including sizing of compressors, separation units, and liquefaction equipment for the helium and associated CO₂ gas. With Jetstream #1 now thoroughly appraised, no further well testing is planned on this well. Jetstream #1 will likely remain shut in while development plans are finalized, and it is expected to serve as a future production well given its strong performance.
The Jetstream #2 appraisal well (drilled to 5,638 feet / 1,718 meters) exhibited an initial gas flow of roughly 40–50 thousand cubic feet per day (Mcf/d) and showed a high and strong initial shut-in pressure (~151 psi / 10.4 bar), greater than Jetstream #1, confirming high reservoir potential. While sustained flow was restricted by persistent blockages in the wellbore, the data gathered is highly valuable and provides strong cause for optimism. Jetstream #2's performance is now under detailed review to determine the cause of these restrictions and define next steps; in the meantime, no further testing is planned pending this assessment.
About the Topaz Project
The Topaz project is located in northern Minnesota, USA where Pulsar is the first mover and holds exclusive leases. Drilling at the Jetstream #1 appraisal well reached total depth ("TD") of 5,100 feet (1,555 metres) on January 11, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond. The Jetstream #1 appraisal well previously reached TD of 2,200 feet (671 metres) on February 27, 2024, identifying top-tier helium concentrations of up to 14.5%, well above the 0.3% widely accepted economic threshold, and flowed at a rate of 821,000 cubic feet per day. Drilling of, the Jetstream #2 appraisal well was completed on February 1, 2025, reaching a TD of 5,638 feet (1,718 metres). The deepening of Jetstream #1 and completion of the drilling of Jetstream #2 are pivotal steps to progress Pulsar's strategy to become a producer of helium, addressing increasing global demand.
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
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About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person Signoff
In accordance with the AIM Note for Mining and Oil and Gas Companies, the Company discloses that Thomas Abraham-James, President, CEO and Director of the Company has reviewed the technical information contained herein. Mr. Abraham-James has approximately 20 years in the mineral exploration industry, is a Chartered Professional Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM CP (Geo)), a Fellow of the Society of Economic Geologists and a Fellow of the Geological Society of London.
Forward-Looking Statements
This news release contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the potential impact of the drill results, flow testing and pressure testing on the next iteration of the resource estimate; the potential of CO2 as a valuable by-product of the Company's future helium production; and the potential for future wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals.
No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of eld. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance.
Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.
Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that flow-testing, pressure testing and drill costs may be higher than estimates; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the AIM Admission Document published on October 14, 2024 found on the Company's web site at https://pulsarhelium.com/investors/aim-rule-26/default.aspx and the Company's Annual Information Form dated as of July 31, 2025 found on the Company's profile at www.sedarplus.ca.
Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
