VANCOUVER, British Columbia, May 06, 2024 (GLOBE NEWSWIRE) — Pulsar Helium Inc. (TSXV:PLSR & OTCQB:PSRHF) (“Pulsar” or the “Company”) is pleased to announce that the Minnesota Department of Transport has announced that Spring road restrictions in the north frost zone have ended (12:01 AM Monday, May 6). The Company will immediately recommence field operations at the Jetstream #1 appraisal well* at its flagship Topaz helium project.
Activities will initially consist of road improvements and civil works, followed by down-hole logging, well completion, and flow testing with a pressure build up program. All necessary contracts are in place, with vendors and equipment secured to complete the upcoming works.
Thomas Abraham-James, President and CEO said: “My colleagues and I are excited to obtain the outstanding data from Jetstream #1, and everything is in place to do so. I look forward to keeping the market updated with results as they arrive.”
The Jetstream #1 appraisal well reached total depth of 2,200 feet (671 meters) on February 27th, with helium concentrations of up to 13.8% helium as measured by specialist gas equipment. Field activities have been on hold while Spring road restrictions, limiting heavy traffic, have been in force. Jetstream #1 has been designed and will be completed to be capable of transitioning to a future helium production well.
* 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 the Topaz helium project in Minnesota, USA and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each. 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.
[email protected]
+ 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 the anticipated results of Jetstream #1 with regard to estimating the size of the reservoir intercepted; the results of the flow testing and pressure build-up program and collect pressurised gas samples to determine the concentration of the helium and other gases via an independent laboratory. 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, 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.
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