THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR
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RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION
IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE
LOCAL SECURITIES LAWS OR REGULATIONS.
NEWS RELEASE | FEBRUARY 20, 2025 |
CASCAIS, PORTUGAL
PULSAR HELIUM ANNOUNCES
UPCOMING DOWN-HOLE TESTING OF THE JETSTREAM APPRAISAL WELLS, TOPAZ
PROJECT, MINNESOTA, USA
Pulsar Helium Inc. (AIM: PLSR, TSXV:
PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), a leading helium project
development company, is pleased to announce that down-hole testing
equipment is scheduled to mobilise to site on Monday, February
24th. The tools consist of an optical televiewer and LithoScanner,
both of which will be run on both the Jetstream #1 and #2 appraisal
wells.
Summary
•
Down-Hole Testing: Involving optical televiewer and
LithoScanner tools, is scheduled to commence on Monday, February
24th. The data collection process, expected to take approximately
two days, will provide valuable insights into reservoir
characteristics. Jetstream #1 was deepened to a total depth (TD) of
5,100 feet (1,555 meters), while Jetstream #2 reached a TD of 5,638
feet (1,718 meters).
•
Next Steps: Flow rate and bottom-hole pressure testing will occur
in March 2025 once well head pressures are anticipated to have
stabilised. The flow testing will be conducted over a period of up
to two weeks for each well. All data will then be sent to an
independent resource estimator for a resource update, and to Chart
Industries for production scenario assessment and conceptual
processing facility design.
Expanded Reservoir Potential
Elevated helium values were observed
in both Jetstream #1 and #2 over a gross vertical thickness of
3,350 and 3,178 feet (1,021 and 969 meters), respectively. This
consistency between wells suggests that the interpreted geophysical
data accurately indicates that the helium-bearing zone extends
beyond 2,200 feet (671 meters), which was the total depth of
Jetstream #1 before deepening. The increased gross helium-bearing
interval has the potential to enhance the project's resource
potential, highlighting the significance of the Topaz
Project.
Strategic Significance
The Jetstream #1 appraisal well
reached a TD of 2,200 feet (671 meters) on February 27, 2024. This
identified top-tier helium concentrations of up to 14.5%,
significantly exceeding the widely accepted economic threshold of
0.3%. Moreover, CO2 concentrations exceeded 70%, which is expected
to further enhance the project's economics. The recent deepening of
Jetstream #1 and the completion of Jetstream #2 are crucial steps
in advancing Pulsar's strategy to meet the growing global demand
for helium as the Company progresses toward its production
objective.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
On behalf Pulsar Helium
Inc.
"Thomas Abraham-James"
President, CEO and
Director
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (218) 203-5301
(USA/Canada)
+44 (0) 2033 55 9889 (United
Kingdom)
https://pulsarhelium.com
https://x.com/pulsarhelium
https://ca.linkedin.com/company/pulsar-helium-inc.
Strand Hanson Limited
(Nominated & Financial Adviser,
and Joint Broker)
Ritchie Balmer / Rob Patrick /
Richard Johnson
+44 (0) 207 409 3494
OAK
Securities*
(Joint Broker)
Jerry Keen (Corporate Broking) /
Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate
Advisory)
info@OAK-securities.com
+44 203 973 3678
BlytheRay Ltd
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204
pulsarhelium@blytheray.com
*OAK Securities is the trading name of Merlin Partners LLP, a
firm incorporated in the United Kingdom and regulated by the UK
Financial Conduct Authority.
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.
Forward-Looking Statements
This news release and the interview
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 deepening Jetstream
#1 and the potential impact of such deepening on the next iteration
of the resource estimate; the expected timing to commence drilling;
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 field. 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 deepening the Jetstream #1, in drilling
commercially productive wells; the uncertainty of resource
estimation; operational risks in conducting exploration, including
that drill costs may be higher than estimates and the potential
for
delays in the commencement of
drilling; 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 14th, 2024, found on the Company's web site
at https://pulsarhelium.com/investors/aim-rule-26/default.aspx.
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.
