LONDON (ShareCast) - (Sharecast News) - Pulsar Helium announced on Monday that its Jetstream 1 appraisal well at the Topaz project in Minnesota had delivered a major increase in natural flow rates, confirming the site's potential as a globally significant helium source.
During open-flow testing on 15 August, Jetstream 1 achieved a peak natural flow rate of about 501 thousand cubic feet per day on a 38/64-inch choke at 30 pounds per square inch wellhead pressure.

The AIM-traded firm said the well flowed as dry gas with no formation water encountered.

It said the result represented more than a threefold improvement over April 2024 testing, when the same well peaked at 150 Mcf/d under similar pressure conditions.

Pulsar said the improvement highlighted the success of deepening the well to 5,100 feet and cleaning the borehole, and confirmed strong reservoir productivity. Sustained testing showed stable long-duration flows of 150 to 300 Mcf/d for up to 18 hours, followed by rapid pressure recovery, indicating robust recharge capacity.

"The well is now naturally flowing at ~501 thousand cubic feet per day at 30 pounds per square inch WHP, more than three times the peak natural flow achieved in 2024," said president and chief executive Thomas Abraham-James.

"This result validates our subsurface model, significantly de-risks the Topaz project, and confirms the reservoir's outstanding productivity.

"This is especially exciting considering the 2024 gas analysis for the same well returned helium concentrations ranging from 8.7% to 14.5%.

"With further flow testing, including under well-head compression, and gas composition analyses to follow, we look forward to sharing further updates, and the results of Jetstream #2.

"These results underscore the immense opportunity at Topaz and signal the start of unlocking its full potential."

The company said compression-assisted testing was now underway and was expected to deliver significantly higher flow rates.

Previous compression testing in 2024 produced 821 Mcf/d.

Once current tests were completed, equipment would move to Jetstream 2 for equivalent appraisal.

Pulsar said it was developing the Topaz project as a primary helium resource at a time of rising global demand, having previously identified helium concentrations as high as 14.5% - far above the economic threshold of 0.3%.

At 1456 BST, shares in Pulsar Helium were up 17.19% at 30p.

Reporting by Josh White for Sharecast.com.

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