REG - Pulsar Helium Inc. - Pulsar Upcoming Down-Hole Testing Jetstream Wells

Pulsar HeliumAnnouncement

20/02/2025 07:15

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RNS Number : 7774X  Pulsar Helium Inc.  20 February 2025

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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 (mailto:connect@pulsarhelium.com)

+ 1 (218) 203-5301 (USA/Canada)

+44 (0) 2033 55 9889 (United Kingdom)

https://pulsarhelium.com (https://pulsarhelium.com)

https://x.com/pulsarhelium (https://x.com/pulsarhelium)

https://ca.linkedin.com/company/pulsar-helium-inc
(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 (mailto:info@OAK-securities.com)

+44 203 973 3678

BlytheRay Ltd

(Financial PR)

Megan Ray / Said Izagaren

+44 207 138 3204
 

pulsarhelium@blytheray.com (mailto: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
(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.

 

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