Pulsar Helium to start clean-up and testing at Jetstream wells

(Sharecast News) - Pulsar Helium announced on Tuesday that well clean-up and flow testing at its Jetstream 1 and 2 wells at the Topaz Project in northern Minnesota would start in mid-July, with conclusion expected in early August. The AIM-traded firm said the programme was fully funded and designed to provide critical data on the project's production potential.

It said the testing campaign would start with a clean-up phase to remove drill fines from the wellbores using coil tubing and a mix of water, nitrogen, and NSF 60-compliant additives.

That method would avoid the need for a drill rig, and was based on insights from comparable geological formations.

Once clean-up was complete, pressure and flow tests would be conducted, with gas samples collected for laboratory analysis.

Verified results would be released throughout the programme.

"I am happy to announce that well testing of Jetstream #1 and #2 will soon be underway," said president and chief executive officer Thomas Abraham-James.

"Following the encouraging pressure readings recorded during our first quarter drilling programme, we're eager to recommence flow testing once both wells have been cleared of blockages."

The board said the Topaz Project had shown highly promising results, including helium concentrations of up to 14.5% - far above the 0.3% economic threshold - at Jetstream #1, which also flowed at 821,000 cubic feet per day.

Both Jetstream wells reached total depths exceeding 5,000 feet earlier in the year, penetrating the full extent of the interpreted helium-bearing reservoir.

Pulsar holds exclusive leases over the Topaz area.

At 0931 BST, shares in Pulsar Helium were up 0.1% at 26.43p.

Reporting by Josh White for Sharecast.com.