Source: Sharecast
Laboratory analysis showed Jetstream 1 delivered helium content of 7% to 8% alongside around 75% to 80% carbon dioxide, with minimal impurities and no hydrocarbons or formation water present.
The AIM-traded firm said the well achieved a peak flow rate of about 1.3 million cubic feet per day under surface compression, having earlier flowed at up to 501,000 cubic feet per day naturally.
Pulsar said the clean, helium-rich gas stream would require minimal processing and that the high carbon dioxide levels offered potential for commercial byproduct sales.
Jetstream 2 also returned helium grades of 7% to 8% and recorded a shut-in pressure of about 151 psi, higher than Jetstream 1, indicating a highly charged reservoir.
However, sustained flow was restricted by wellbore blockages, and Pulsar is planning a targeted cleanout to enable full testing.
“We are very encouraged by the consistency of helium grades across both Jetstream wells, with favorable carbon dioxide levels expected to simplify processing and enhance product yields,” said chief executive Thomas Abraham-James.
“These latest datasets further validate the Topaz Project's significant potential, with sustained helium concentrations of up to 8% at Jetstream 1 providing a robust foundation for future development.”
A multi-well drilling campaign at Topaz was scheduled to begin in early October as Pulsar looked to advance the project towards commercial production.
At 1528 BST, shares in Pulsar Helium were up 0.86% at 23.5p.
Reporting by Josh White for Sharecast.com.