No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Pulsar Helium confirmed sustained helium concentrations of up to 8% at its Jetstream 1 appraisal well in Minnesota on Friday, with similarly high grades and strong reservoir pressure recorded at Jetstream 2, reinforcing the potential of its flagship Topaz project.
Laboratory analysis showed Jetstream 1 delivered helium content of 7% to 8% alongside around 75% to 80% carbon dioxide, with minimal impurities and no hydrocarbons or formation water present.
The AIM-traded firm said the well achieved a peak flow rate of about 1.3 million cubic feet per day under surface compression, having earlier flowed at up to 501,000 cubic feet per day naturally.
Pulsar said the clean, helium-rich gas stream would require minimal processing and that the high carbon dioxide levels offered potential for commercial byproduct sales.
Jetstream 2 also returned helium grades of 7% to 8% and recorded a shut-in pressure of about 151 psi, higher than Jetstream 1, indicating a highly charged reservoir.
However, sustained flow was restricted by wellbore blockages, and Pulsar is planning a targeted cleanout to enable full testing.
"We are very encouraged by the consistency of helium grades across both Jetstream wells, with favorable carbon dioxide levels expected to simplify processing and enhance product yields," said chief executive Thomas Abraham-James.
"These latest datasets further validate the Topaz Project's significant potential, with sustained helium concentrations of up to 8% at Jetstream 1 providing a robust foundation for future development."
A multi-well drilling campaign at Topaz was scheduled to begin in early October as Pulsar looked to advance the project towards commercial production.
At 1528 BST, shares in Pulsar Helium were up 0.86% at 23.5p.
Reporting by Josh White for Sharecast.com.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.