Oleblue
1週前
Pulsar Partners with Leading Space Balloon Launch
Company to Champion University Science
Programmes
2024-11-22
CASCAIS, Portugal, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF)
("Pulsar" or the "Company"), the helium project development company, is pleased to announce a partnership with Send My Stu To Space Ltd (“SMSTS”). Pulsar’s in-house initiative ‘Pulsar Scholars’, the quarterly bursary programme designed to support students in higher-education studying Science, Technology, Engineering and Mathematics (“STEM”), will partner with SMSTS’s Academic Space Programme which is designed to give students an opportunity to test their science projects at altitude.
SMSTS deploys helium and hydrogen lled biodegradable natural latex space balloons, providing suborbital ights into the upper stratosphere (at an altitude of approximately 130,000 feet above sea level). The environment in the middle segment of the near-space, upper stratosphere, 30–48 kilometres above sea level, is similar to the
environment on the surface of Mars: dry, cold, hypobaric pressure, and exposed to high doses of UV irradiation, making it ideal for students looking to test cube satellites and other scientic and technological experiments for durability.
Highlights
The bursary funds of US$2,500 provided quarterly by the Pulsar Scholars initiative to STEM students will be used to pay SMSTS to test student projects and experiments in suborbital conditions.
This partnership will provide students with reliable, proven, and sustainable test ights at heavily discounted rates for educational missions.AIM: PLSR | TSXV: PLSR | OTCQB: PSRHFPulsar Helium Inc Rua Frederico Arouca, nº 251, 2º frente, 2750-356, Cascais, Portugal connect@pulsarhelium.com
Pulsar Helium Inc
By covering the full cost of the ight, the bursary ensures students have access to the resources and support they need to advance and test their projects eectively. Marc Farrington, Pulsar’s Head of PR & Partnerships commented: “Our in-house outreach initiative, Pulsar Scholars, has been providing quarterly bursaries of US$2,500 to support higher education students pursuing STEM subjects
since 2023. Through our partnership with SMSTS, Pulsar Scholars will support their Academic Space Programme giving students an opportunity to test and validate the durability of their projects in one of the world’s most extreme environments.”
The Partnership
As SMSTS transitions from hydrogen-lled space balloons to align more closely with best practices in ballooning, primary helium is becoming the preferred lifting gas for its suborbital ights, oering sustainability on par with hydrogen.
SMSTS is expanding its Academic Space Programme, oering students the opportunity to test their science projects at high altitudes. Recognising the vital role of higher education in advancing scientic discovery, Pulsar, a science-focused company, has introduced the Pulsar Scholars initiative to support cutting-edge student projects. As part of this initiative, Pulsar will award quarterly bursaries of USD$2,500 to STEM students seeking to test their projects and experiments in suborbital conditions. The bursary funds will be used by students to pay SMSTS, which provides reliable, proven, and sustainable test ights at heavily discounted rates for educational missions. By covering the full cost of the ight, the bursary ensures students have access to the resources and support they need to advance
and test their projects eectively.
About Send My Stu to Space Ltd
Founded by a team of educators, professors, and scientists passionate about making the wonders of spaceight accessible to young people, SMSTS has established itself as a leader in educational space balloon ights. With hundreds of sustainable ights completed and a awless 100% client payload recovery rate, the SMSTS operates under strict regulations set by the Federal Aviation Administration (“FAA”) and adheres to the Code of Federal Regulations (“CFR”). Trusted by prominent brands such as Mastercard, Oreo, Sony, Movember, and Canterbury, aswell as launching with sta and students from top universities like the University of Maine, a renowned public land-grant research institution, and Middlebury College, one of the prestigious “Little Ivies,” SMSTS continues to uphold its reputation for innovation and excellence.AIM: PLSR | TSXV: PLSR | OTCQB: PSRHFPulsar Helium Inc Rua Frederico Arouca, nº 251, 2º frente, 2750-356, Cascais, Portugal connect@pulsarhelium.com
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For more information, visit: https://sendmystutospace.com/
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 agship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the rst mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identied at each.
On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (218) 203-5301
+44 (0)2033 55 9889
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 IzagarenAIM: PLSR | TSXV: PLSR | OTCQB: PSRHFPulsar Helium Inc
Rua Frederico Arouca, nº 251, 2º frente, 2750-356, Cascais, Portugal
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https://s203.q4cdn.com/212931576/files/doc_news/Pulsar-Partners-with-Leading-Space-Balloon-Launch-Company-to-Champion-University-Science-Programmes-2024.pdf
Oleblue
1週前
Pulsar Helium Signs Agreement With Chart Industries
for Helium and CO2 Capture And Production
2024-11-20
CASCAIS, Portugal, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF)
("Pulsar" or the "Company"), the helium project development company, is pleased to announce that its wholly owned Minnesotan subsidiary, Keewaydin Resources Inc., has signed an agreement (the “Agreement”) with Earthly Labs, a subsidiary of Chart Industries (NYSE: GTLS, market capitalisation approx. USD$7.1 billion), a leading supplier of industrial gas processing plant and equipment. The Agreement outlines a procurement roadmap, specic to Pulsar's needs, and facilitates access to advanced gas processing technologies, including helium and carbon dioxide capture, essential for servicing a potential production scenario at Pulsar's agship Topaz project in Minnesota ("Topaz").
The Agreement sets out the following principal terms for how the parties could work together, which would befurther detailed in a master services agreement to be entered into:
Pulsar would agree to purchase the Chart carbon capture solution to capture helium and CO from Topaz, allowing Pulsar to monetise these products, whilst also reducing its emissions Under the terms of the agreement, Chart will complete engineering studies and provide helium and CO plant and storage recommendations for Pulsar Thomas Abraham-James, President & CEO of Pulsar, commented: “We are thrilled to have signed an Agreement with Chart Industries, the gold standard when it comes to gas processing equipment. We look forward to working towards the signing of a master service agreement and utilising this impressive cutting-edge technology. This development is one of great signicance for Pulsar, as it is in line with our commitment to realise production at 2
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Topaz whilst monetising both its helium and CO products, all while reducing emissions. The additional benet of Earthly Labs and Chart carrying out engineering studies means that we will reduce third-party costs, while reducing risk and time-to-value.”
Details of the Agreement
The Agreement states that Keewaydin Resources Inc. and Earthly Labs will work together to enter into a binding agreement under which Earthly Labs will sell its CiCi (Elm) carbon capture solution to Keewaydin Resources Inc. The CiCi (Elm) solution includes CO capture, purication and liquefaction technology, commissioning, and training. Under the terms of the Agreement, Earthly Labs will complete an engineering study for a CO plant, which will include P&ID and heat, material balance and helium recoveries. Chart will provide recommendations on a helium plant design and CO storage tanks made in Minnesota.
About Chart Industries
Chart Industries is a leading global manufacturer of highly engineered equipment for the energy and industrial gas sectors, oering innovative solutions across the entire liquid gas supply chain. The company excels in developing cutting-edge technologies for gas processing, including helium liquefaction and carbon dioxide capture and utilisation.
Chart's acquisition of Cryo Technologies has signicantly enhanced its capabilities in helium processing, enabling the company to provide complete solutions for liquefying, storing, distributing, and marketing helium, regardless of plant capacity. Their helium liquefaction systems utilise advanced vacuum cold box technology and proprietary processes to achieve unparalleled performance and quality. In the realm of carbon dioxide, Chart oers award- winning technologies through its Sustainable Energy Solutions (SES) and Earthly Labs acquisitions, capable of capturing CO emissions from hard-to-abate industries and converting them into puried, liquid CO for reuse or resale.
With a strong commitment to innovation, environmental responsibility, and a global presence spanning over 65 manufacturing locations, Chart Industries proves to be an invaluable partner in gas processing, oering comprehensive, ecient, and sustainable solutions tailored to meet the evolving needs of the industry.
About the Topaz Helium Project
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The Jetstream #1 appraisal well was drilled at the Company’s Topaz Helium Project in Minnesota, USA in February 2024. The well successfully owed helium-bearing gas to surface, with helium concentrations in the range of 8.7 – 14.5%. Following the successful drilling and testing of Jetstream #1, the Company intends to maintain momentum and has accordingly signed a new drilling contract with Capstar Drilling to deepen the well by approximately 500m to fully penetrate the entire interpreted helium-bearing zone. The rig is scheduled to commence drilling in December 2024 with all necessary site improvements and permits in place.
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 agship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the rst mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identied at each.
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (218) 203-5301
+44 (0)2033 55 9889
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 LtdAIM: PLSR | TSXV: PLSR | OTCQB: PSRHFPulsar Helium Inc
Rua Frederico Arouca, nº 251, 2º frente, 2750-356, Cascais, Portugal
connect@pulsarhelium.com
pulsarhelium.com
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Pulsar Helium Inc
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204
pulsarhelium@blytheray.com
*OAK Securities is the trading name of Merlin Partners LLP, a rm incorporated in the United Kingdom and
regulated by the UK Financial Conduct Authority.
Chart Industries Investor Contact:
John Walsh
SVP, Investor & Government Relations
770-721-8899
john.walsh@chartindustries.com
For further information visit:
https://pulsarhelium.com
X https://x.com/pulsarhelium
LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is dened in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: Pulsar Helium
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Oleblue
4週前
Pulsar Helium Completes Key Site Improvements At
Topaz Project, Setting Stage For Next Phase Of
Drilling
2024-11-04
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 OF AMERICA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED,
DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR 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.
CASCAIS, PORTUGAL / ACCESSWIRE / November 4, 2024 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF)
("Pulsar" or the "Company"), the helium project development company, is pleased to provide an operational update
on the Topaz Project in Minnesota ("Topaz" or the "Project"), where site improvements have now been completed,
paving the way for a step forward in the Company's helium exploration and production strategy.
With the recent upgrades to site access, roadways, and drill pad setup, Pulsar is on track to deepen the Jetstream
#1 well to further explore and unlock the resource potential at Topaz, marking a pivotal step forward in its strategy
to address the growing global demand for helium.
OPERATIONAL HIGHLIGHTS
New Drilling Contract Signed: Following the announcement on 1 October 2024, Pulsar will partner with
Capstar Drilling to deepen the Jetstream #1 well by approximately 500 metres to reach the anticipated full
height of the helium reservoir.
Roadway Enhancements: Sections of the Project's main access road have been modied for all weather
access to support operational trac for year-round operations. This roadwork completion allows for theAIM: PLSR | TSXV: PLSR | OTCQB: PSRHFPulsar Helium Inc
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mobilisation of the Capstar drill rig in non-frozen conditions. Further access improvements are scheduled to
take place in late November, in anticipation of increased trac levels during the winter operational period.
Drill Pad Ready: The Jetstream #1 drill pad is fully prepared and ready to accept the drilling rig and ancillary
equipment which is anticipated to begin arriving to site during the rst week of December.
Advancing Helium Production Potential
The Topaz Project, located in Minnesota, USA, is Pulsar's agship project and a cornerstone in its strategy to boost
helium supply to the domestic market. One well has been drilled to date with additional deeper targets identied
on recently acquired geophysical data. The deepening of the Jetstream #1 well is poised to identify further high-
grade helium.
With all relevant permits for the Jetstream #1 well deepening in place, Pulsar is on target to commence drilling
operations this quarter, positioning Topaz to play a transformative role in the global helium landscape.
Thomas Abraham-James, President & CEO of Pulsar, commented:
"Deepening Jetstream #1 is an exciting step forward for Pulsar. Our team has worked tirelessly to progress
operations at Topaz, so we can fully understand its scale. Only one well has been drilled within the prospect, which
has not yet met target depth, but has owed concentrations that are considered very high by global standards,
signicantly surpassing the commonly accepted economic viability threshold. During the deeper drilling phase, we
hope to build on this, and unlock a helium resource of size and quality, to advance our goal to become a premier
helium supplier.
"This next drilling phase oers an unprecedented opportunity to unlock the district-scale opportunity oered by
Topaz. We've seen other projects achieve signicant gains in resource size and ow rates through similar deepening
eorts, and combined with our data, and our existing high concentration credentials, we believe Jetstream #1 can
stand as a top-tier helium production site worldwide."
Strategic Advantages of High-Grade Helium
Topaz's high-grade helium concentrations enable Pulsar to maintain resilience in the face of market uctuations, as
higher-concentration deposits require less overall volume of raw gas to be processed for economically viable
production. This focus on eciency enhances protability and solidies Pulsar's competitive edge within a volatileAIM: PLSR | TSXV: PLSR | OTCQB: PSRHFPulsar Helium Inc
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market.
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310
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 rm 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 quoted 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 agship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is
the rst mover in both locations with primary helium occurrences not associated with the production of
hydrocarbons identied at each. For further information visit https://pulsarhelium.com, XAIM: PLSR | TSXV: PLSR | OTCQB: PSRHFPulsar Helium Inc
Rua Frederico Arouca, nº 251, 2º frente, 2750-356, Cascais, Portugal
connect@pulsarhelium.com
pulsarhelium.com
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Pulsar Helium Inc
https://x.com/pulsarhelium and LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is dened 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 results of drilling, results of an updated independent resource estimate for
helium and CO at Topaz; the results of a preliminary economic assessment; the estimated Geological Chance of
Success for the Prospective Resources and the Chance of Commerciality of Topaz; 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 dened at the Topaz Project. However, estimating helium volumes is subject to signicant 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 signicantly 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
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estimates may adversely aect the Company's operational or nancial 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 signicantly 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 aect the Company's exploration
and development plans which may, in turn, aect the Company's performance. The process of estimating helium
resources is complex and requires signicant decisions and assumptions to be made in evaluating the reliability of
available geological, geophysical, engineering, and economic date for each property. Dierent engineers may make
dierent estimates of resources, cash ows, 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 dier 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 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 14, 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 dier 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 and interview are expressly qualied in their entirety by this cautionary
statement.
SOURCE: Pulsar Helium Inc.AIM: PLSR | TSXV: PLSR | OTCQB: PSRHFPulsar Helium Inc
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Oleblue
3月前
Pulsar Helium Announces Independent Resource Estimate For One Prospect At The Topaz Project, Immediate Investment Of £1.125 Million And Intention To Dual-List On The London Stock Exchange's Aim Market
Pulsar Helium Inc.
Wed, Aug 21, 2024, 5:00 PM EDT
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 OF AMERICA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR 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.
This announcement is an advertisement and not an admission document or a prospectus and does not constitute or form part of an offer to sell or issue or a solicitation of an offer to subscribe for or buy any securities nor should it be relied upon in connection with any contract or commitment whatsoever in any jurisdiction. Potential investors should not purchase or subscribe for any transferable securities referred to in this announcement except on the basis of the information in the final form of an admission document (the "Admission Document") which may be published in due course in connection with the proposed admission of its issued and to be issued common shares ("Common Shares") to trading on AIM, a market operated by London Stock Exchange plc ("AIM"). Upon such publication the Admission Document will supersede this announcement and the information contained herein in its entirety and your investment decision, if any, must be made only on the basis of the information contained therein. It should be noted that an investment in any transferable securities referred to in this announcement carries a number of risks and that the value of investments may go down as well as up. Investors should take independent advice from a person experienced in advising on investment in securities such as those referred to in this announcement if they are in doubt.
CASCAIS, PORTUGAL / ACCESSWIRE / August 21, 2024 / Pulsar Helium Inc. (TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company") is pleased to announce receipt of an independent technical report of the Contingent and Prospective Resources for helium and CO2 from Sproule International Limited ("Sproule") from one prospect at the Company's flagship Topaz Project in Minnesota (the "2024 Sproule Report"). The evaluation relates to the Company's first half 2024 drilling of the Jetstream #1 appraisal well* and geophysical surveys conducted across the prospect. The contingent and prospective resource acreage covered in the 2024 Sproule Report represents approximately 13% of the Company's gross land position that it has under lease and exclusive option.
Pulsar is also pleased to announce its intention to apply for the admission to trading of the Company's Common Shares on AIM, with a target admission date before the end of October 2024 (the "AIM IPO"). The AIM IPO is supplementary to the Company's existing listing on the TSX Venture Exchange (the "TSX-V") in Canada.
Based on feedback from a recent corporate roadshow arranged for the Company by OAK Securities, the Company believes the AIM IPO will enhance its access to UK and European based investors, from whom it is proposing to raise approximately £5 million in connection with the AIM IPO. A principal of OAK Securities has agreed to cornerstone the IPO capital raising by advancing to the Company £1.125 million to fund the long lead items for the deepening of the Jetstream #1 well, expected to commence in October 2024, and the AIM IPO costs (the "Cornerstone Investment"). The mechanics of the Cornerstone Investment are detailed below.
* In the State of Minnesota, the regulatory term is ‘exploratory boring'.
Resource Highlights from one prospect at the Topaz Project:
Helium Resources Evaluation (unrisked, gross recoverable)
44% increase to Sproule's previous helium Contingent Best Estimate (2C) Gross Recoverable Resource, now 22.9 million standard cubic feet ("MMcf"), Pmean of 79.0 MMcf, and P10 of 174.0 MMcf
12,165% increase to the helium Prospective Best Estimate (2U) Gross Recoverable Resource, now 380.2 MMcf, Pmean of 1.3 billion cubic feet ("Bcf"), and P10 of 2.8 Bcf
CO2 Resources Evaluation (unrisked, gross recoverable)
Maiden CO2 Contingent Best Estimate (2C) Gross Recoverable Resource, 171.8 MMcf, Pmean of 597.7 MMcf, and P10 of 1.3 Bcf
Maiden CO2 Prospective Best Estimate (2U) Gross Recoverable Resource, 2.9 Bcf, Pmean of 10.1 Bcf, and P10 of 21.3 Bcf
Due to an ongoing shortage of CO2 in the USA, with bulk CO2 purchases increasing up to USD$32 per thousand cubic feet ("Mcf"), it has the potential to be a bonus and valuable by-product of Pulsar's helium production*
Chance of commerciality
The 2024 Sproule Report states: "Chance of Commerciality (Pc) is the likelihood that the Topaz Project will, in a timely manner, be able to be commercialized. The Topaz project has both commercial concentration helium and CO2 and there are no significant environmental nor logistical barriers to commercialization given its location. Therefore, given the Resource base, the Pc is fairly high for an early stage project with a value of 0.65."
The contingent resources estimated in the 2024 Sproule Report relates to one prospect within the Topaz Project, comprising acreage under the Company's leases surrounding the Jetstream #1 well, and the acreage of the prospective resources is under the Company's leases and exclusive options. The contingent and prospective resource acreage covered in the 2024 Sproule Report represents approximately 13% of the Company's gross land position that it has under lease and exclusive option.
Thomas Abraham-James, President & CEO of Pulsar, commented: "The resource evaluation is significant as it is based only on one prospect within the Topaz Project and data from only one well, Jetstream #1, which naturally flowed high-concentration helium of up to 14.5% to surface and without the presence of water. Such positive estimations received from a single and comparatively shallow well are hugely encouraging ahead of further exploration, which Pulsar has scheduled for Q4 2024. Data indicates that the well penetrated only the top of the helium-bearing fracture zone which is likely to persist for a further 1,650ft (500m) vertical depth. Therefore deepening of the Jetstream #1 well, scheduled for Q4 2024, is likely to have a significant impact on the next iteration of the resource estimation. We have made great progress in our first year as a listed entity and intend to build on this success and realise Topaz's full potential."
Thomas further commented: "The process to dual-list the Company's securities on London's AIM market is underway, with AIM being an attractive exchange for growth industrial gas companies. We have very strong interest from UK and European investors, underpinned by an immediate £1.125m cornerstone investment in the IPO from a principal of our UK broker, OAK Securities."
*This is for context and does not form part of the resource report.
Outlook
The Jetstream #1 well confirmed the presence of helium and CO2 bearing gas identified in the original LOD-6 discovery well and has substantially de-risked the Topaz Project. In addition, Jetstream #1 correlates with seismic data acquired by the Company which shows a distinct velocity anomaly at the depth of the gas zone that persists for a further ~500m and it is the Company's near-term intention to deepen Jetstream #1 to test the full scale of the seismic velocity anomaly. This is also proposed to be accompanied by a step out well and additional seismic acquisition with the intention of increasing the size of the resource base and delineating additional prospects. The Company intends to commission a third-party preliminary economic assessment (PEA) study, with the intention of identifying near-term production scenarios.
Company Analysis of Material Changes from the 2022 Sproule Report
Sproule last reported on Pulsar's Topaz Project with its "Evaluation of the Helium Resources of RGGS Land & Minerals, Ltd., L.P. in Minnesota, USA for Pulsar in April of 2022" (the "2022 Sproule Report"). There have been several material changes to the Topaz Project since that report, the most notable being Pulsar's drilling of the Jetstream #1 well. This well confirmed the presence of a fractured reservoir that contained native gas with high concentrations of both helium and carbon dioxide. In the 2022 Sproule Report, Sproule used a Low Case Reservoir Model of a single fracture which has now been disproven as the Jetstream #1 well has multiple fractures with gas shows. Additionally, the 2022 Sproule Report used a High Case Reservoir Model of a vugular dual porosity system which has likewise been disproven. Using conventional oil and gas testing equipment, the Jetstream #1 well tested reservoir pressures and flow rates and obtained multiple reliable gas analysis.
Pulsar also acquired multiple geophysical surveys across the Topaz Project which have been integrated into the analysis of both the Jetstream #1 well and the historical mineral wellbores. These various geophysical surveys have been interpreted to show an extended gas filled fracture network deeper than the penetration of the Jetstream #1 well and more laterally extensive. These 3D volumes have been accounted for as Prospective Resources as they have yet to be tested by any wells.
The Company's land holdings that are evaluated in the 2024 Sproule Report consist of a helium discovery located approximately 100 km northeast of Duluth, in Lake County, Minnesota, USA.
Gas samples were taken from the flowing well test and analyzed by Isotech Laboratories. 21 samples over 12 days were compositionally analyzed and had a range of helium of 14.48-7.91% by volume with an average of 9.91%. The carbon dioxide percentages ranged from 21.5% to 71.28% by volume with an average of 62.49%.
The Company notes that Jetstream #1 was drilled within 50ft (15m) of the LOD-6 discovery well (drilled in 2011), a mineral exploration borehole that encountered an uncontrolled gas from a depth of 1,778ft (542m), with concentration of 10.5% helium, measured in 2011. The gas flowed naturally to surface and showed no sign of pressure decline during the flow period of four days.
Jetstream #1 was designed to twin this discovery and encountered gas which naturally flowed to surface at a similar depth of between 1,740 - 1,975ft and had a maximum measured absolute open flow rate of 821 Mcf/d from fractured igneous reservoirs, with 8.7-14.5% helium and 62-74% CO2 measured, with no formation water present. Total depth drilled was 2,200ft, and Jetstream #1 is in a suspended state capable of being either re-entered or used for production.
In May 2024, the State of Minnesota enacted legislation that includes helium exploration, production and for leasing on state lands. The new regulatory framework allows the State of Minnesota to issue leases for exploration and production of non-hydrocarbon gases (including helium), with Pulsar already having lodged an application for new leases in areas of interest for helium and hydrogen. Prior to the new regulations, leases could only be issued on mineral rights that are privately held, accordingly all of Pulsar's existing leases are with private entities.
Helium Contingent and Prospective Resources Report Prepared by Sproule, an Independent Evaluator
Pulsar is pleased to share summary estimates from its Contingent Resources and Prospective Helium and CO2 Resources Report prepared by Sproule, an independent qualified reserves evaluator, dated August 21, 2024. All volumes are reported as unrisked and there is both a geological risk (Pg) and a Chance of Commerciality (Pc) that requires independent evaluation. The Chance of Commerciality (Pc) is the likelihood that the Topaz Project will, in a timely manner, be able to be commercialized. The Topaz Project has both commercial concentration helium (being not less than 0.5% by volume of gas) and CO2 and there are no significant environmental nor logistical barriers to commercialization given its location. Therefore, given the Resource base, the Pc is fairly high for an early stage project with a value of 0.65.
The Contingent and Prospective Resources data presented in the 2024 Sproule Report was prepared in accordance with the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook") as of July 31, 2024. No economic evaluation was performed Sproule for any of the assigned resources. The evaluation adheres in all material aspects to the principles and definitions in the COGE Handbook.
The Company is not deemed to be engaged in oil and gas activities and as such they are not required to disclose under National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. Additionally, Helium is not a defined "Product Type" in NI 51-101. Consequently, any reference to contingent or prospective resources in the 2024 Sproule Report should not be interpreted in being prepared in accordance with NI 51-101.
Evaluated Helium Contingent and Prospective Resources as of July 31, 2024 (unrisked)
Category / Level of Certainty
Recoverable
Contingent
Recoverable
Prospective
Recoverable
Contingent
Recoverable
Prospective
Gross (MMcf)
Gross (MMcf)
Net (MMcf)
Net (MMcf)
Low Estimate
3.2
53.5
1.6
11.5
Best Estimate
22.9
380.2
5.9
40.3
High Estimate
174.0
2,785.7
34.9
205.9
Evaluated CO2 Contingent and Prospective Resources as of July 31, 2024 (unrisked)
Category / Level of Certainty
Recoverable Contingent
Recoverable
Prospective
Recoverable
Contingent
Recoverable
Prospective
Gross (MMcf)
Gross (MMcf)
Net (MMcf)
Net (MMcf)
Low Estimate
24.2
410.2
11.9
88.0
Best Estimate
171.8
2,862.1
44.6
303.7
High Estimate
1,331.4
21,254.6
266.7
1,570.7
Notes:
Low Estimate - P90; Best Estimate - P50; High Estimate - P10.
The helium and CO2 resources are presented in millions of cubic feet (MMcf), at base conditions of 14.65 psia and 60 degrees Fahrenheit.
The resources are technical before any commercial or economic truncation.
The net resources stated are derived from Sproule's calculation of the Company's Net Revenue Interest in the applicable resource. Net Revenue Interest was calculated by taking the gross recoverable volumes attributable to a particular lease multiplied by the working interest and accounting for any royalties, severances or other payments required.
Additional Information Regarding the Contingent Resources
Contingent Resources are those quantities of gas estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development but which are not currently considered to be commercially recoverable due to one or more contingencies. There is uncertainty that it will be commercially viable to produce any portion of the resources. Contingent Resources do not constitute, and should not be confused with, reserves.
Four contingencies are identified for the Topaz Project development:
1) Evaluation Drilling & Testing: There is a requirement for more evaluation drilling to confirm the geological continuity of the reservoir and to reduce the uncertainty of the area of continuity of the reservoir from the proven productivity of the near wellbores. It is anticipated that as the Company continues to pursue primary development of the reservoir, commercial productivity will be established by testing closer to and within the primary production contingent resource areas, at which time this contingency would be removed.
2) Corporate Commitment: There has been no final investment decision and endorsement from the Company to move forward with commercial development of this asset. Gathering of the additional technical data is required to establish the commerciality of the project and make the final investment decision. Additionally, a detailed development plan has not been determined and further work needs to be completed to confirm how the resources will be developed. Currently, the Company is working on securing additional acreage by exercising lease options, pursuing additional lands, engaging vendors for drilling activities and engaging with local government and regulatory bodies. It is anticipated that as the development plan is refined the Company would be able to make a final investment decision, at which point this contingency would be lifted.
3) Market Access: There is a viable helium and carbon dioxide market in Minnesota. Considering the early stage of the project, the Company will be required to build helium extraction facilities as well as execute a helium and/or CO2 sales contract to allow for the product to reach markets. Once determination of market access has been completed, or will be completed in the near term, this contingency may be lifted.
4) Demonstration of commerciality: Once the uncertainties on the reservoir size are reduced and the determination of market access has been negotiated the field development plan can be designed and the economics can be calculated to determine a basis for commerciality and reserve determination.
Additional Information Regarding the Prospective Resources
The estimated quantities of a gas that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable non-hydrocarbon gases.
Risk
The Topaz Project has twice flowed and tested helium and carbon dioxide gas in volumetrically significant percentages and both wells demonstrated shut-in pressures that indicated a reservoir that extended beyond the immediate area of the wellbores. The Jetstream #1 well has been logged, cored and with an optical televiewer log has confirmed the presences of open, gas filled fractures. Therefore, the Geological Chance of Success for the Contingent Resource (Pg) has been assessed as 0.95.
The Prospective Resources are defined by the integration of a variety of geophysical methods that have tied back to multiple boreholes, including the Jetstream #1 well. These resources by definition are untested and undrilled and have a much higher risk. The largest uncertainty is the ability to locate the fracture network with the drill bit and the amount of regional connectivity of the fracture network. The estimated Geological Chance of Success for the Prospective Resources is assessed as 0.25. The Company is planning additional 2D and 3D seismic data acquisition for the purpose of reducing these uncertainties and following the acquisition, processing and interpretation it is anticipated that the Pg of the Prospective Resources will increase.
The Chance of Commerciality (Pc) is the likelihood that the Topaz Project will, in a timely manner, be able to be commercialized. The Topaz project has both commercial grade helium and CO2 and there are no significant environmental or logistical barriers to commercialization given its location. Therefore, given the Resource base, the Pc is fairly high for an early-stage project with an estimated value of 0.65.
AIM Dual-Listing and Financing
The Cornerstone Investment of £1.125 million will be made by way of a subscription for special warrants (the "Special Warrants") of the Company by Jerome Anthony Keen, a principal of OAK Securities (the "OAK Subscriber"), pursuant to a special warrant subscription agreement between the OAK Subscriber and the Company entered into on 21 August 2024. The Cornerstone Investment will be made by no later than 30 August 2024 and will form part of the £5 million that the Company is proposing to raise in connection with the AIM IPO.
The Special Warrants will entitle the holder on the exercise thereof to receive, without payment of any further consideration, such number of depositary interests over Common Shares equivalent to £1.125 million divided by the AIM IPO price, to be priced in the context of the market, subject to admission to trading on AIM of the Common Shares occurring by 31 October 2024 (or such later date as the OAK Subscriber, in its absolute discretion, may notify the Company in writing). If the AIM IPO has not occurred by 31 October 2024 (or such later date as the OAK Subscriber, in its absolute discretion, may notify the Company in writing), the Special Warrants will automatically be deemed exercised and entitle the OAK Subscriber to receive, without payment of any further consideration, such number of Common Shares equivalent to 1.2x the amount of the Cornerstone Investment (being C$2,400,000) divided by the market price of the Common Shares at that time, subject to receipt of TSX-V approval.
The Company intends to use the net proceeds of the AIM IPO primarily to fund the cost of the ongoing exploration programs at the Company's Topaz Project and for general working capital purposes.
As part of the AIM IPO process, the 2024 Sproule Report will be updated to produce a competent person's report in accordance with the requirements of AIM Note for Mining, Oil and Gas Companies. In addition, the Company intends to augment the structure of its Board in readiness for the AIM IPO.
Nomad & Broker Appointments
In connection with the AIM IPO, Pulsar has appointed Strand Hanson Limited as its Nominated and Financial Adviser and OAK Securities as its Broker.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR and on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, that has been drilled and flowed up to 14.5% helium, 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. For further information visit https://pulsarhelium.com, follow us on X https://twitter.com/pulsarhelium?lang=en and LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc.
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310
OAK Securities*
info@OAK-securities.com
+44 203 973 3678
*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.
Neither 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.
IMPORTANT INFORMATION
The communication of this announcement is not being made, and has not been approved, by an authorised person for the purposes of section 21 of the UK Financial Services and Markets Act 2000.
The contents of this announcement, which has been prepared by and is the sole responsibility of the Company, has not been approved by either of Strand Hanson Limited ("Strand") or OAK Securities (a trading name of Merlin Partners LLP) ("OAK") for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000 (as amended).
Neither this announcement nor any copy of it may be taken or transmitted, published or distributed, directly or indirectly, in, into or from any restricted jurisdiction or to any persons in any of those jurisdictions or any other jurisdiction where to do so would constitute a violation of the relevant securities laws of such jurisdiction. Any failure to comply with this restriction may constitute a violation of United States, Australian, Japanese or South African securities laws.
This announcement does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any shares or other securities in any restricted jurisdiction. The distribution of this announcement and other information in connection with the Admission in certain jurisdictions may be restricted by law and persons into whose possession this announcement, any document or other information referred to herein comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Neither this announcement nor any part of it nor the fact of its distribution shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.
This announcement is directed only at persons whose ordinary activities involve them in acquiring, holding, managing and disposing of investments (as principal or agent) for the purposes of their business and who have professional experience in matters relating to investments and are: (i) if in a member state of the European Economic Area ("EEA"), Qualified Investors as defined in article 2(e) of Regulation (EU) 2017/1129 (the "EU Prospectus Regulation"); (ii) if in the United Kingdom, are Qualified Investors as defined in article 2(e) of the EU Prospectus Regulation as it forms part of domestic law pursuant to the European Union (Withdrawal) Act 2018 and (a) fall within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (b) are persons who fall within article 49(2)(a) to (d) of the Order, or (c) to whom it may otherwise be lawfully distributed (all such persons together being referred to as "Relevant Persons").
This announcement must not be acted on or relied on by persons who are not Relevant Persons. Persons distributing this announcement must satisfy themselves that it is lawful to do so. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This announcement does not itself constitute an offer for sale or subscription of any securities in the Company.
The Common Shares referred to in this Announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States. The securities may not be offered or sold in the United States absent registration under the US Securities Act or an available exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offer of securities in the United States.
Any subscription for or purchase of Common Shares should be made solely on the basis of the information contained in the final Admission Document to be published by the Company in connection with the Admission. The information in this announcement is for background purposes only and does not purport to be full or complete. No reliance may or should be placed for any purposes whatsoever on the information contained in this announcement or its accuracy, completeness or fairness. The information in this announcement is subject to change. However, the Company does not undertake to provide the recipient of this announcement with any additional information, or to update this announcement or to correct any inaccuracies, and the distribution of this announcement shall not be deemed to be any form of commitment on the part of the Company to proceed with the Admission or any transaction or arrangement referred to in this announcement. This announcement has not been approved by any competent regulatory authority.
Strand and/or OAK and any of their respective affiliates, acting as investors for their own accounts, may subscribe for or purchase Common Shares and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such Common Shares and other securities of the Company or related investments in connection with the Admission or otherwise. Accordingly, references in the Admission Document, once published, to the Common Shares being offered, subscribed, acquired, placed or otherwise dealt in should be read as including any offer to, or subscription, acquisition, placing or dealing by Strand and/or OAK and any of their respective affiliates acting as investors for their own accounts. In addition, Strand and/or OAK or their respective affiliates may enter into financing arrangements and swaps in connection with which it or its affiliates may from time to time acquire, hold or dispose of Common Shares. Neither Strand nor OAK has any intention to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.
Strand, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom is acting exclusively for the Company as the Company's nominated adviser for the purposes of the AIM Rules for Companies ("AIM Rules") and no one else in connection with the Admission, and Strand will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Admission or any other matters referred to in this announcement.
OAK, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom is acting exclusively for the Company as the Company's broker for the purposes of the AIM Rules and no one else in connection with the Admission, and OAK will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Admission or any other matters referred to in this announcement.
Neither Strand, nor OAK nor any of their respective subsidiary undertakings, affiliates or any of their respective directors, officers, employees, advisers, agents or any other person accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy, completeness or fairness of the information or opinions contained in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith and any liability therefore is expressly disclaimed.
The anticipated timetable for Admission, including the publication of the Admission Document and/or the date of Admission, may be influenced by a range of circumstances, including market conditions. There is no guarantee that the Admission Document will be published or that Admission will occur and investors should not base their financial decisions on the Company's intentions in relation to the Admission at this stage.
The price of shares and any income expected from them may go down as well as up and investors may not get back the full amount invested upon disposal of the shares. Past performance is no guide to future performance, and persons needing advice should consult an independent financial adviser.
Certain figures contained in this announcement, including financial information, have been subject to rounding adjustments. Accordingly, in certain instances, the sum or percentage change of the numbers contained in this announcement may not conform exactly to the total figure given.
Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.
Solely for the purposes of Paragraph 3.2.7R regarding the responsibilities of UK Manufacturers under the Product Governance requirements contained within Chapter 3 of the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the UK Product Governance Requirements) may otherwise have with respect thereto, the Common Shares have been subject to a product approval process, which has determined that the Common Shares are: (i) compatible with an end target market of (a) retail investors, (b) investors who meet the criteria of professional clients and (c) eligible counterparties, each as defined in UK Product Governance Requirements; and (ii) eligible for distribution through all distribution channels as are permitted by UK Product Governance Requirements (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, distributors should note that: the price of the Common Shares may decline and investors could lose all or part of their investment; the Common Shares offer no guaranteed income and no capital protection; and an investment in the Common Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Fundraising. For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of the UK Product Governance Requirements; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to, the Common Shares.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Placing Shares.
Each distributor is responsible for undertaking its own target market assessment in respect of the Placing Shares and determining appropriate distribution channels.
EU Product Governance Requirements
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("EU MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing EU MiFID II; and (c) local implementing measures (together, the "EU MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any 'manufacturer' (for the purposes of the EU MiFID II Product Governance Requirements) may otherwise have with respect thereto, the Common Shares have been subject to a product approval process, which has determined that the Common Shares are: (i) compatible with an end target market of retail clients and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by EU MiFID II (the "EU Target Market Assessment"). Notwithstanding the EU Target Market Assessment, distributors should note that: the price of the Common Shares may decline and investors could lose all or part of their investment; the Common Shares offer no guaranteed income and no capital protection; and an investment in the Common Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The EU Target Market Assessment is without prejudice to any contractual, legal or regulatory selling restrictions in relation to the possible Offer. Furthermore, it is noted that, notwithstanding the EU Target Market Assessment, the Investment Firms will only procure investors who meet the criteria of professional clients and eligible counterparties. For the avoidance of doubt, the EU Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of EU MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Common Shares. Each distributor is responsible for undertaking its own target market assessment in respect of the Common Shares and determining appropriate distribution channels.
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 Company's intention to apply for admission to trading of the Company's common shares on the AIM Market of the London Stock Exchange and the timing of its targeted admission; the independent resource estimate for helium and CO2 at Topaz; the potential of CO2 as a valuable by-product of the Company's future helium production; the estimated Geological Chance of Success for the Prospective Resources and the Chance of Commerciality of Topaz; the potential for deepening Jetstream #1 and the potential impact of such deepening on the next iteration of the resource estimate; the Company's expectation that its application on an additional 32,949 acres for the extraction of non-hydrocarbon gases will be granted in the near term; and the intended use of proceeds from the AIM IPO. 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 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 Final Prospectus dated July 31, 2023 filed on the Company's profile on 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.
SOURCE: Pulsar Helium Inc.
https://finance.yahoo.com/news/pulsar-helium-announces-independent-estimate-210000614.html
Oleblue
4月前
Pulsar Helium provides update to legislators
by Nick Wognum 08/10/2024 08:00 AM
Pulsar Helium provides update to legislators
Production could start as soon as next year
Four area legislators received a personal update from the President of Pulsar Helium, Thomas Abraham- James, in an Aug. 31 on site tour.
Abraham-James explained the beginning, current status and future outlook for a company that struck gold with one of the highest concentrations of helium ever found anywhere on Earth.
Abraham-James said it’s possible production could start as soon as next year with the company tapping the 14.5 percent of helium that has roared out of a well that has already underground substantial testing.
On Aug. 7, Pulsar will conduct seismic testing to help determine the size of the helium deposit which will go toward answering how long a plant east of Babbitt near Hwy. 2 would be in production.
Legislators Rep. Roger Skraba (R-Ely), Rep. Natalie Zeleznikar (R-Hermantown), Sen. Grant Hauschild (DFL-Hermantown) and Rep. Dave Lislegard (DFL-Aurora) had plenty of questions at the site.
Abraham-James said pulsar has come a long way since they started acquiring private landowner mineral rights in 2017 and having discussions with the state Department of Natural Resources.
“Everyone thought we were crazy talking about non-hydrocarbon gases in northern Minnesota,” said Abraham-James.
While the company’s stock took a large initial jump, it has settled in and even dropped as investor’s wait for answers.
“How big is this thing? That’s the biggest question,” said Abraham-James. “What we’ve been doing before we drilled in February was the build up work. So airborne surveys, geophysics, ground, seismic, all these things to build up a picture saying, is this an isolated occurrence? Are we looking at something that’s regional in this extent? And the data proved that this does appear to be something which is significant so it’s not in the isolated pocket.”
The company was able to replicate the results of the initial test drilling that accidentally found the helium in 2011.
The well drilled in February went to 1,760 feet and Abraham-James said Pulsar now believes the deposit may go even deeper.
“We now know that this is very likely to extend for another 1,000 feet,” said Abraham-James.
Pulsar will extend their exploration much farther than the 50 feet from the original drill hole.
ON SITE for the Pulsar Helium update were Rep. Roger Skraba, Rep. Natalie Zeleznikar, President of Pulsar Helium, Thomas Abraham-James, Sen. Grant Hauschild and Rep. Dave Lislegard. Photo by Steve Groteboer.
“Our intention is later this year, we’re going to drill deeper and then do some step out wells about a mile away from where we are now and see okay, can we replicate this? Is the reservoir connected, this hole and the other one, so they talk to each other? That really decreases the risk around the resource. How believable is it? How long can it produce for? And those are the questions that we hope to have answered by the end of this year,” said Abraham-James.
He credited the four legislators for working together to get legislation passed that will set rules on the process as well as implement production taxes on helium deposits in Minnesota.
“Having clarity around that is really key,” said Abraham- James.
He said Pulsar may be the first company in Minnesota to mine helium but there will be others. He said hydrogen has been found here as well.
“We know that this geological feature that’s here, it does extend into Ontario, and it does go down to Iowa. This is a big, regional deposit,” said Abraham-James. “I think that being the first mover advantage is extremely important for attracting new people here as well. I mean, for us we’re very supportive of new entrants coming in looking for helium. We know this is a big play. And it’s never great being the only kid in town.”
In addition to the company’s private mineral rights on over 2,089 net acres, Pulsar has an exclusive option for 2,092 additional net acres.
Abraham-James said Pulsar is now pursuing state leases as well.
“We want state land as well, because we have data already collected over a very good area. And we could effectively instead of being constrained by imaginary boundaries, but to go out into that state land, it is actually very important for us to have all the rules on royalties, everything, we will adhere to the rules,” said Abraham- James.
He said the company has already gone above and beyond current drilling regulations, which actually caused the state to issues two variances for exceeding state standards.
“Now with the feedback from the public health department that said that’s the right the way you’re doing it, and it actually makes an awful lot of sense that you do it this way. Maybe we’ll be grading our regulations in line with what you’re doing, which is really nice to hear,” said Abraham-James.
Pulsar did find the state is still catching up on the permitting and leasing rules, but they expect that process to play out fairly quickly.
Skraba asked about if there has been progress on rules regarding pooling where helium and other gases could be extracted from other adjacent lands.
Abraham-James said pooling in established oil wells is much different than dealing with helium.
“Mother Nature is a different beast. So it’s actually extremely hard to be able to predict that connectivity until we conduct the work,” said Abraham-James.
Skraba also asked about the origins of the helium and whether it is continuing to be produced underground.
“The most prolific helium plant in the USA is in Wyoming. It’s owned by Exxon Mobil. It’s a helium and CO2 production facility that is almost a copy paste of what we have right here. So the most prolific is a CO2 dominant system,” said Abraham-James.
He explained the helium is created by the ancient Duluth Complex.
“You’ve got some of the oldest rocks on the planet,” said Abraham-James. “The older rocks are very well endowed with uranium and thorium. They’re big elements that are incompatible with old rock types. So the old rocks get rid of like the gunk. So the uranium and thorium, they decay and one thing that is created is what’s called an alpha particle, which is a helium atom that’s produced and so we know that this area is prolific for the production, because the age and the endowment with those radioactive elements. But there’s no radioactivity anymore. That’s billions of years ago.”
Abraham-James said often times the gas is sealed in granite but in the Duluth Complex the Mid-Continent Rift created fractures in the rock that hold the helium until it can reach the surface.
In addition there is CO2 at high concentrations, as much as seven times the level of helium. He said Minnesota has to import its CO2 so there is a market for that as well.
“So you’ve got this sort of Goldilocks zone, which is highly favorable to helium and CO2,” said Abraham James. “But importantly, not hydrocarbons. Hydrocarbons is the kiss of death in our business.”
The company believes they are getting close to being able to bring helium and CO2 to market.
“I think, next year, there’s a distinct possibility that we may be able to see a bit of production starting. We feel with an aggressive schedule that may be possible,” said Abraham-James.
While helium has many uses from medical to semiconductors to fiber optics, Abraham-James said there is also a market for CO2. Helium would be sold in a gas form while CO2 would be in a liquid form.
“CO2 is used in drinks of course, beer for example, food for packaging, and then also for potable water. So for tap water to change the pH level, they include CO2 to drop the acidity and that’s a major use,” said Abraham- James.
He said CO2 is mainly used for pushing oil out of the ground.
“So what that leaves behind is the CO2 needed for food, beverage and potable water,” said Abraham-James. “And Minnesota being so far from the market, it’s amplified.”
Pulsar believes helium could be used in Minnesota’s semiconductor plants.
The company may build a facility in Two Harbors to turn the helium from a gas to a liquid.
“Interestingly the gold standard of helium production facilities is manufactured in New Prague, Minnesota,” said Abraham-James.
Abraham-James did respond to a question about Minnesota having such a diverse group of minerals and now gases located in the northeast part of the state.
“Here you’ve got platinum, palladium, copper, nickel, iron, helium, gold that’s a computer chip right there,” said Abraham-James.
Pulsar’s CEO said the company made a conscious decision to share its information along the way.
Skraba said that helped in St. Paul when environmental groups endorsed the legislation regulating production.
“As a company we had a choice to fly under the radar, be quiet and hope nobody notices or full disclosure. And of course we took the latter option,” said Abraham-James. “And thank goodness, we took that approach and full transparency.”
Zeleznikar credited the company for being an open book to the public.
“You brought everybody to the table right from the start,” said Zeleznikar. “ You eliminate all the issues that happen when people aren’t allowed to ask questions and to see firsthand like we’re doing today. When you do that, I think it builds trust. That builds credibility that will go miles.”
On jobs created, Abraham- James said the process will be fairly automated but he expects 20 jobs but believes there will be ancillary jobs as well.
He said the company will need electricity but no pipelines will be built.
When sked about the value if a truck per day of helium is exported from the site, Abraham-James said one truck would hold a million cubic feet of liquid helium which would be more than $1 million. Skraba asked about the CO2 value but Abraham- James said that dollar amount can vary widely since it is not publicly traded.
Abraham-James explained the different gases are separated using membranes and temperature control.
“What we would do is that the bulk of gas will come out and then probably the likely first step would be go through a series of membranes, and they scrub out the atomic size of the gases until helium remains,” said Abraham-James.
LISTENING to Pulsar Helium president Thomas Abraham-James were Sen. Grant Hauschild, Rep. Natalie Zeleznikar, Rep. Dave Lislegard and Rep. Roger Skraba. Photo by Steve Groteboer.
SHARING A LAUGH with Pulsar Helium president Thomas Abraham-James (second from right) were Rep. Roger Skraba, Rep. Dave Lislegard, Sen. Grant Hauschild, and Rep. Natalie Zeleznikar on a site visit Aug. 31. Photo by Steve Groteboer.
https://www.elyecho.com/article/1846,pulsar-helium-provides-update-to-legislators
Oleblue
5月前
NEWS RELEASE | JULY 9, 2024 | VANCOUVER BC
PULSAR ANNOUNCES POSITIVE OUTCOME FROM SEISMIC SURVEY AT THE TOPAZ HELIUM PROJECT
Pulsar Helium Inc. (TSXV:PLSR & OTCQB:PSRHF) (“Pulsar” or the “Company”), the emerging multi project pure play helium development company, is pleased to provide an update on progress at its flagship 100% owned Topaz helium project in Minnesota. This includes positive results from a 2D seismic sweep survey, and an update on additional geophysical surveys from the ongoing exploration program.
• 1.1 km (0.7 mi) long 2D seismic sweep survey shows a seismic reflector identified at the same depth
as gas intersected in Jetstream #1 appraisal well, and additional reflectors observed at depth.
• Further 20.4km (12.7 mi) long 2D seismic line scheduled to commence in July to assist in the
placement of step out wells from Jetstream #1 appraisal well, which flowed North America’s highest
concentration of helium at 14.5%.
• Processed infill high-resolution airborne gravity gradiometry and magnetic data received and ready
for interpretation.
• Sproule International Ltd expected to publish an updated resource calculation in July.
Pulsar President & CEO, Thomas Abraham-James, commented: “We are delighted to receive this 2D seismic data, which demonstrates that the helium-bearing zone encountered in Topaz’s Jetstream #1 appraisal well is identifiable and that additional gas-bearing zones are likely at depth. This new data, alongside existing drilling, passive seismic, and gravity information, sets the stage for our upcoming drilling program where we plan to deepen Jetstream #1 and drill additional step-out wells. This is a busy period for us, as we also anticipate receiving the Topaz resource calculation from Sproule later this month.”
Interpretation of the 2D seismic sweep shows a seismic reflector # at a depth coincident with the helium-bearing zone intersected in Jetstream #1, and additional reflectors with similar characteristics at greater depth. The positive result highlights 2D seismic reflection as an efficient exploration tool and supports the larger 2D seismic survey scheduled for July as well as potential future 3D seismic surveys. The sweep line was 1.1km (0.7 mi) in length, in a N-S orientation, with receivers at 10m (33ft) interval, and located 150m (492ft) west of Jetstream #1.
A 20.4km (12.7 mi) long, east-west orientated 2D seismic line is scheduled to commence later in July. This will provide regional high-resolution data to complement the existing passive seismic and airborne gravity gradiometry (AGG) data. The combination of this data will be used to assist the placement of step out wells from Jetstream #1.
Pulsar has also received processed AGG, magnetic and Lidar data from an infill survey flown in May covering an area of 190km 2 (118mi2 )which is now ready for interpretation. When combined with the AGG data acquired in 2022, the survey has a combined resolution of 150m (492ft) line spacing. AGG is an industry- leading geophysical technique for mapping geological units and structure.
Resource Calculation
All technical data for Topaz has been transferred to Sproule International Ltd, which is expected to publish an updated resource calculation in July.
* In the State of Minnesota, the regulatory term is ‘exploratory boring’. # A seismic reflector is an interface between subsurface layers with contrasting acoustic impedances that reflects a
portion of seismic wave energy back to the surface, allowing geophysicists to image and interpret subsurface structures.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR and on the OTCQB with the ticker PSRHF. Pulsar’s portfolio consists of its flagship Topaz helium project in Minnesota, USA, that has been drilled and flowed up to 14.5% helium, 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. For further information visit https://pulsarhelium.com, follow us on X https://twitter.com/pulsarhelium?lang=en and LinkedIn
https://ca.linkedin.com/company/pulsar-helium-inc.
On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
Thomas Abraham-James President,
CEO and Director Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310
Neither 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 contains forward–looking statements and 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 and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such
forward–looking statements. No assurance can be given that these expectations will prove to be correct and such forward–looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
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 based on a number of assumptions and 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 Pulsar may be unsuccessful in drilling commercially productive wells; drill costs may be higher than estimates; delays in the commencement of drilling, a temporary permit may not be issued, and other factors set forth under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the Final Prospectus. 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. Any forward–looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
https://cdn.prod.website-files.com/643e9b04697598ab2651d990/668cf22d84367fb059b38cd6_PLSRNR2024-29_JetstreamSeismic.pdf
Weekly Chart
Oleblue
6月前
PULSAR ANNOUNCES FURTHER ANALYSIS PUTTING TOPAZ IN THE TOP TIER OF GLOBAL PRIMARY HELIUM PROJECTS
Pulsar Helium Inc. (TSXV:PLSR & OTCQB:PSRHF) (“Pulsar” or the “Company”) is today reporting further results from its ongoing exploration program at its 100% owned Topaz project in Minnesota.
• Flow rate of up to 821,000 cubic feet per day with helium grade between 8.7-14.5%.
• 162 psi (1,117 kpa) bottom hole pressure.
• 70% pressure rebound within the first hour of post-flow shut-in. The fast build-up of pressure is
regarded as highly positive, suggesting that there is a significant volume of gas present.
As previously announced, the Jetstream #1 appraisal well* recently completed flow testing operations where gas was recorded over a total of five flow tests at rates of up to 821,000 cubic feet per day with no formation water present. Laboratory analysis confirmed the world-class grade of helium, with analysis from an independent laboratory calculating helium content in the range of 8.7-14.5%.
The combination of flow rate multiplied by helium concentration confirms Jetstream #1 as world-class helium well in the context of other publicly listed helium explorers and developers.
The Jetstream #1 appraisal well is Pulsar’s first and only well on the property, which twinned and surpassed the original 2011 discovery which reported helium hosted in fractures. Ongoing analysis of Jetstream #1 has identified additional fractures sets, which in combination with the data collected to date confirms the presence of a globally significant discovery and provides Pulsar with the confidence to drill deeper and test the entirety of the interpreted helium-bearing zone, as identified by seismic surveys conducted by the Company.
Additional pressure data acquired from Jetstream #1 has confirmed 162 psi (1,117 kpa) bottom hole pressure, and 70% pressure rebound within the first hour of post-flow shut-in, suggesting the presence of significant volumes of gas. Well head (surface) pressure of 20 psi as previously announced, is not a static shut-in pressure, which was measured at 144 psi (993 kpa). Decreasing the flowing tubing head pressure at the surface serves to have a corresponding increase in the flow rate.
Ongoing Work
All data is now being transferred to Sproule International Ltd for their resource update calculation, expected to be completed in July. In the meantime, the Company is preparing for additional field activities consisting of seismic surveys, interpretation of the recently acquired in-fill FALCON airborne gravity gradiometry, and preparation for drilling later in 2024. The drilling is likely to consist of deepening Jetstream #1 and drilling step-out wells.
* In the State of Minnesota, the regulatory term is ‘exploratory boring’.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR and on the OTCQB with the ticker PSRHF. Pulsar’s portfolio consists of its flagship Topaz helium project in Minnesota, USA, that has been drilled and flowed up to 14.5% helium, 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. For further information visit https://pulsarhelium.com, follow us on X https://twitter.com/pulsarhelium?lang=en and LinkedIn
https://ca.linkedin.com/company/pulsar-helium-inc.
On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
Thomas Abraham-James President,
CEO and Director Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310
Neither 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 contains forward–looking statements and 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 and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such
forward–looking statements. No assurance can be given that these expectations will prove to be correct and such forward–looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
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 makedifferent estimates of resources, cash flows, or other variables based on the same available data.
Forward–looking statements are based on a number of assumptions and 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 Pulsar may be unsuccessful in drilling commercially productive wells; drill costs may be higher than estimates; delays in the commencement of drilling, a temporary permit may not be issued, and other factors set forth under "Cautionary Note Regarding Forward Looking Statements and Market and Industry
Data" and "Risk Factors" in the Final Prospectus. 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. Any forward–looking statements
contained in this news release are expressly qualified in their entirety by this cautionary statement.
https://cdn.prod.website-files.com/643e9b04697598ab2651d990/6666cac7fb15ceec633c6e03_PLSRNR2024-25_JetstreamUpdate.pdf
Oleblue
6月前
PULSAR ANNOUNCES HELIUM FLOWING TO SURFACE AT JETSTREAM #1 IN MINNESOTA
Pulsar Helium Inc. (TSXV:PLSR & OTCQB:PSRHF) (“Pulsar” or the “Company”) is pleased to announce the safe and timely completion of logging, completion, and flow testing activities at the Jetstream #1 appraisal well* at its flagship Topaz helium project. A summary of the results is as follows:
• Helium and associated gases flowed to surface naturally in a free gas phase,
• Flow testing after clean up recorded a maximum rate of 821 thousand cubic feet per day (Mcf/d),
• New laboratory results from produced gas confirm concentrations between 8.7 – 14.5% helium,
• CO2 concentrations exceeding 70% have the potential to contribute to project economics,
• Vertical Seismic Profile (VSP) and wireline optical televiewer data was collected, and
• In-fill Airborne Gravity Gradiometry (AGG) survey flown.
Pulsar President and CEO, Thomas Abraham-James, stated: “The results of the Jetstream #1 flow test and laboratory analysis confirm a major new helium discovery, putting Topaz in the top tier of global primary helium projects. The comprehensive dataset acquired will give the Company the assurance it needs to fast track activities and realize Topaz’s commercial potential. The data will be analyzed by Sproule for their updated resource estimate, along with recommendations for future appraisal and development planning at Topaz. This is the first dedicated helium well drilled in Minnesota, and all data gathered indicates that this is not an isolated occurrence with the helium-bearing zone likely to extend laterally and at depth.”
Proposed future work The Jetstream #1 appraisal well was designed to replicate the original 2011 discovery at LOD-6. This was successful and the existing seismic data suggests that the helium-bearing zone persists at depth, up to an additional kilometer (3,281 feet). Future work programs are proposed to consist of deepening Jetstream #1 to assess this potential, in conjunction with drilling a nearby step-out well and conducting a 3D seismic survey to define the structural extent of the resource.
Flow Testing
Completion and initial flow testing activities have been finalized at the Jetstream #1 appraisal well. The flow test program included five flow tests of both natural flow and under wellhead compression from the open- hole section of the well (between 503-671 meters (1,650–2,200 feet) depth). Each test lasted approximately six hours in duration with pressure build-ups of 18 hours between natural flow tests and approximately six days until the start of the compression tests.
The flow test with well site compression reached a maximum absolute open flow of 821 Mcf/d at a flowing tubing head pressure of 20 psi on a 1 inch choke. Results during natural flow climbed to a peak of 150 Mcf/d with 34 psi flowing tubing head pressure on a 1 inch choke with the rate still on incline at the six-hour shut- in mark. Step rate and choked tests were also acquired to help understand reservoir production parameters which will be announced in due course.
* In the State of Minnesota, the regulatory term is ‘exploratory boring’.
Following well tests, tubing head pressure built up rapidly to near pre-flow conditions. There was evidence of introduced drilling fluid interference during the testing process, specifically in follow-up flows. Preliminary analysis indicates this is easily mitigated until these fluids are recovered during an early production clean-up flow period.
Laboratory Analysis
Gas samples were collected throughout the flow testing operations and were distributed to Isotech
Laboratory, the Woods Hole Oceanographic Institute, and Caltech Noble Gas Lab. The results from Isotech have been received with up to 14.5% helium measured, prior to any atmospheric contamination correction.
An average of 9.9% helium was derived across 21 samples. Associated major gases include CO2 content of up to 71%, nitrogen up to 24%, and hydrocarbons constituting <5% of the total gas content. Gas isotope analysis will take place later in June for detailed gas chemistry investigation.
Resource Update
All data obtained from the Jetstream #1 well, in conjunction with seismic, gravity and magnetic data is being assessed by Sproule International Limited for an updated resource estimate to the Topaz project, contingent and prospective resource calculations. Further updates on this will be provided in due course.
Logging / Data Acquisition
Data acquired during the recent activities includes both downhole and broader site data, as follows:
• An optical televiewer was run through the open hole portion of the Jetstream #1 by Inner Earth
Technologies. Preliminary interpretation of the high-resolution image data confirms a series of fractures
within the open-hole section of the well across a 19 meter (62 foot) gross interval.
• A downhole vertical seismic profile (VSP) was acquired at Jetstream #1 by Baker Hughes and their partner SAExploration. The VSP gathers data on acoustic rock properties and provides a seismic image at the well location for depth correlation to future seismic imaging. In conjunction with the VSP, SAExploration conducted a series of seismic sweeps in the vicinity of Jetstream #1 to facilitate the design of future seismic acquisition.
• Xcalibur MPH (Canada) Ltd acquired an in-fill FALCON Airborne Gravity Gradiometry (AGG) and magnetic survey over the Topaz project area in May. The survey increases the data density for the FALCON survey acquired in 2022 to provide a higher resolution dataset to enhance the subsurface imaging. The Company will provide a further update on independent evaluations of the Jetstream #1 well data as additional material information is received. Data acquired during the past three weeks will assist with understanding of the Topaz resource, future potential production performance, facility design, and regional work program planning.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR and on the OTCQB with the ticker PSRHF. Pulsar’s portfolio consists of its flagship Topaz helium project in Minnesota, USA, that has been drilled and flowed up to 14.5% helium, 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. For further information visit https://pulsarhelium.com, follow us on X https://twitter.com/pulsarhelium?lang=en and LinkedIn
https://ca.linkedin.com/company/pulsar-helium-inc.
On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
Thomas Abraham-James President,
CEO and Director Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310
Neither 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 contains forward–looking statements and 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 and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward–looking statements. No assurance can be given that these expectations will prove to be correct and such
forward–looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
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 based on a number of assumptions and 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 Pulsar may be unsuccessful in drilling commercially productive wells; drill costs may be higher than estimates; delays in the commencement of drilling, a temporary permit may not be issued, and other factors set forth under "Cautionary Note Regarding Forward Looking Statements and Market and Industry
Data" and "Risk Factors" in the Final Prospectus. 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. Any forward–looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
https://cdn.prod.website-files.com/643e9b04697598ab2651d990/6661444e87f49c335e543809_PLSRNR2024-24_Jetstream_Results.pdf
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6月前
PULSAR ANNOUNCES NEW HELIUM LEGISLATION IN THE STATE OF MINNESOTA
Pulsar Helium Inc. (TSXV:PLSR & OTCQB:PSRHF) (“Pulsar” or the “Company”) is pleased to announce that the State of Minnesota has enacted new legislation that includes helium exploration, production and for leasing on state lands following advances made by the Company at its Topaz helium project where the Jetstream #1 well flowed 13.8% helium. The new legislation came into effect on May 22 nd , after being signed into law by the State Governor.
The new regulatory framework allows the State of Minnesota to issue leases for exploration and production of non-hydrocarbon gases (including helium), with Pulsar already having lodged an application for new leases in areas of interest for helium and hydrogen. Prior to the new regulations, leases could only be issued on mineral rights that are privately held, accordingly all of Pulsar’s existing leases are with private entities.
Permitting of helium production projects will be governed by a temporary regulatory framework prior to final rules being adopted. By January 15, 2025, the Minnesota Department of Natural Resources commissioner must submit recommendations to the relevant legislative committees for statutory and policy changes to facilitate exploration and production of non-hydrocarbon gases (including helium) and support temporary permits for gas (including helium) exploration and production.
President and Chief Executive Officer Thomas Abraham-James commented: “Minnesota is open for business, and we are grateful to the State for supporting this new industry. The new legislation gives Pulsar certainty moving forward, creating a clear regulatory pathway for us to take Topaz to production.
As a result, we are now planning to accelerate our works at Topaz and expand our footprint in Minnesota.”
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR and on the OTCQB with the ticker PSRHF. Pulsar’s portfolio consists of the Topaz helium project in Minnesota that has been drilled and flowed 13.8% helium, 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. For further information visit https://pulsarhelium.com, follow us on X https://twitter.com/pulsarhelium?lang=
NEWS RELEASE | MAY 23, 2024 | VANCOUVER BC
PULSAR ANNOUNCES NEW HELIUM LEGISLATION IN THE STATE OF MINNESOTA
Pulsar Helium Inc. (TSXV:PLSR & OTCQB:PSRHF) (“Pulsar” or the “Company”) is pleased to announce that the State of Minnesota has enacted new legislation that includes helium exploration, production and for leasing on state lands following advances made by the Company at its Topaz helium project where the Jetstream #1 well flowed 13.8% helium. The new legislation came into effect on May 22 nd , after being signed into law by the State Governor.
The new regulatory framework allows the State of Minnesota to issue leases for exploration and production of non-hydrocarbon gases (including helium), with Pulsar already having lodged an application for new leases in areas of interest for helium and hydrogen. Prior to the new regulations, leases could only be issued on mineral rights that are privately held, accordingly all of Pulsar’s existing leases are with private entities.
Permitting of helium production projects will be governed by a temporary regulatory framework prior to final rules being adopted. By January 15, 2025, the Minnesota Department of Natural Resources commissioner must submit recommendations to the relevant legislative committees for statutory and policy changes to facilitate exploration and production of non-hydrocarbon gases (including helium) and support temporary permits for gas (including helium) exploration and production.
President and Chief Executive Officer Thomas Abraham-James commented: “Minnesota is open for business, and we are grateful to the State for supporting this new industry. The new legislation gives Pulsar certainty moving forward, creating a clear regulatory pathway for us to take Topaz to production. As a result, we are now planning to accelerate our works at Topaz and expand our footprint in Minnesota.”
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR and on the OTCQB with the ticker PSRHF. Pulsar’s portfolio consists of the Topaz helium project in Minnesota that has been drilled and flowed 13.8% helium, 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. For further information visit https://pulsarhelium.com, follow us on X https://twitter.com/pulsarhelium?lang=en and LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc.
On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
Thomas Abraham-James President,
CEO and Director Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310
Neither 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 contains forward–looking statements and 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 and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward–looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to temporary permits for gas (including helium) exploration and production being issued to Pulsar on a timely basis, the application for new leases being successful. No assurance can be given that these expectations will prove to be correct and such forward–looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward–looking statements are based on a number of assumptions and 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 Pulsar may be unsuccessful in drilling commercially productive wells; drill costs may be higher than estimates; delays in the commencement of drilling, a temporary permit may not be issued, and other factors set forth under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the Final Prospectus. 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. Any forward–looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
https://assets-global.website-files.com/643e9b04697598ab2651d990/664f0b06a2899c55635047a7_PLSRNR2024-23_Legislation.pdf
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