Member Info for BuildersBum3

I personally think there is a big commercial deal going on in the background but it hasn't yet been agreed in total. Would explain the slippage of timelines, poor communication, board changes and institutional share sales and market abuse by a broker that has been reported and subsequently denied..

All sounds like a big stake is being bought up which will carry us through a production set up, however numbers need to be agreed and no one wants to pay too much or give away too much, therefore more data is needed and thus the delay on the open market??🤷‍♂️

Pure speculation, but wouldn't be surprised. Plenty of interested parties out there.

BB3

Unless of course JS5 wasn't logged because it was being flow tested, which is still ongoing.

However this was the well with 3 x gas zones and a stuck drill string that needed to be recoverd, so very unlikely that they recovered/bypassed and then decided to flow without logging first..

Just my opinion, but there is some tidying up of communication that needs to be done to bring shareholders up to speed on the 'current' operationl plan.

BB3

Silence on flow tests is still deafening.

Other than an email reply from the company on the 28th April (saying "With regards to Topaz, be advised, wireline logging has been now completed across all appraisal wells, with flow testing currently underway") I still have not seen any other communication to confirm this.

Further to that, accuracy on the logging across all appraisal wells has subsequently proven to be innacurate, as we now know this isn't the case for JS5, making me further question the accuracy of the flow testing comments received in the email.

My point being, extended flow testing was to take 6 weeks per well x 3 well tests, and results communicated as and when received by the company....

Its been 8 weeks since early april (latest communication in rns detailing flow testing) 10 weeks since completion of JS7.

We are either very overdue news on this or the forward programme has been changed and flow testing is not being undertaken, possibly in place of drilling new production wells.

Either way, we are owed explanation and communication from the company... cant say one thing in RNS and do something else entirely without explanation, even if it is in the best interests of all shareholders etc.

BB3... still awaiting explanation. ⌛️

Just thinking outside the box with regards to funding...

They cut short the drilling programme... = spare capital.

They raised for flow tests but as of yet no rns confirmation this has started = possible spare capital

University bankcorp funding for production = unused 12m? loan funding

Chart industies running feed alongside delination drilling programme= could they have enough data already to size a producrion plant to support 4/5 productiin wells?... if so this production equiptment could be leased and not require up front capital.

BB3.. far too many unanswered questions, but we can kiss that updated sprule resouce update goodbye without updated flow rates.

Looks to me like they are trying to shorten the timeline to production and are ejecting the flow testing programme in place of production wells.!?!?@?

WTF.. seriously!

No comment on flow testing programme

No comment on continuity and communication of fractures.

No comment on why JS5 wasn't logged

No comment on how they plan to fund up to 4 new production wells. (Though new production wells were always going to be needed)

No further comment on JS2 prduction well issues.

No timeline

This is a lesson in how to keep investors in the dark on progress... question is... WHY???

The silence is deafening...its either a very bad or a very good reason, otherwise they would just come out with the data to support their progress.

Capital raise may be but may not be on the horizon... many non dilutive ways to get to the end goal.

BB3.. been left wanting more info, not for the first time either.

Still fully invested though.

Since TD on JS7 was reached.

No logging results

No flow results.

🤷‍♂️

BB3.. some serios negotiations must be taking place in order for the lid to be left on this long.

An almighty car crash or are we going to the moon.??

I would imagine pulsar management had some idea of the information contained within this dradt legislation some weeks ago. Maybe not, but it is my assumption that this has been drawn up constructively rather than in isolation of the player it's being drafted for.

My point is, if this information was known, then might it have been the reason the delination programme was stopped at 5 wells rather than using the up to 10 wells initially suggested that funds were raised for.

The reasons why this might make sense and tie in with the real world actions of the company..

1. the drills to date would prove enough resouce to cover 3 additiinal producers, and thus no need for more, if a small production footprint, and thus lighyer regulation hurdle, was targeted as a first step...

2. The reduced cost of 5 small diamiter drills rather than 10 would leave some cash in the kitty to cover a higher production well drill cost profile prior to production.

If the flow results are good, I don't see it a problem raising the additional costs for both production plant and a few new larger prduction drills.

BB3..Drop in SP now understood, roll on the flow test results..

Information on the draft permitting rules up for public comment if anyone wants regulatory bedtime reading.

https://www.dnr.state.mn.us/lands_minerals/gas_program/gas_rules.html

Good news is that the govenment machine is moving..

Production here we come.

BB3

2 months and counting since the completion of JS7.

Are we nearly there yet?

BB3

So.. 6 weeks from late march is now and from early april is likely anytime over the next 10 days..

Flowtest News Incoming.

BB3. Wouldnt want to be out of this over the weekend.

hi justathought.

i am not going to make a prediction for the sp after flow test results.. even if its 'as expected' for a range of reasons..

1. what is the curent 'as expected' outcome..? proof of a connected basement fracture system. or just a flowing well test no lower than previous tests?

2. hype, fomo, me war supply issues, us tech demand and disruptive market supply model may all push this well past what one would normally assume as fair value at this stage.

3. us gov. interest as a resource/reserve, he4 being put on the critical strategic list, and possible increase / repeat of he3 concentrations and resulting column inches.

4. possible takeover approaches, future offtake agreements at high market prices and forward orders for cash up front agreements etc.

5. minnesota legislation confirmations on explotation and land leasing.

6. reserves report and commercial model announcement in short order after flow results.

not sure i could pick an actual fair value if that is all at play...

that said, on confirmation of a connected fracture basement, this share in my opinion, could reach $1b market cap without production.

good flow but zero communication between wells and we could be looking at your 110 on results.

can't see a zero/low flow scenario, so think the downside is somewhat minimised to 50%

imho

bb3... also, dont take ****er123 seriously, he's a wind up merchant that knows f.all other than how to be a child.

Same.. I reached out, took a few days for a reply.

But got one back from Mark Farrington confirming what I passed on..

All good.

BB3

Hey Rpoodle..

I know we both had concerns if the flow had actually started.

However I can now 100% confirm that flow testing is curently underway.

Don't know the date it started but if there is no 'we have started' RNS tomorrow morning then it could well have been ongoing for some time.

Which means, initial numbers could drop at any time!!.

BB3

If there is any US / global credit issue coming down the road, i'd rather have phisical assets, property, land, gold/metals, energy production and oil etc. rather than cash in bank as inflation is the only way out for the US in that picture...

(phisical cash in hand if the banks are on the rocks too!)

BB3

Https://youtu.be/UlklA36Ub20?si=EWpKCTgQsvJdE-Gp

BB3... Enjoy

PLSR - Helium - US

PRD - Oil and Gas - Trinidad and Morocco

HBR - Oil and Gas - Everywhere other than the ME - huge Free cash flow coming

Are my three picks for outstanding performance through the rest of 2026

Sorry for the off topic.

BB3

IMO the Iran war is about the american debt pile and no about Nukes etc.

DT had his tariffs overturned and had to plug the hole.. The US are the biggest exporter and a high oil price suits them fine whilst it reduces foreign imports, supporting the debt pile and keeping the US effectively solvent.

Everything said in the media is smoke screen to the actual pressures and goings on in the halls of power.

Expect high oil prices for a long time.

BB3

Care to share the name of the block they applied for then, if it is known by you and not price sensitive.?

Not being cute, just interested as I might jump in here for a gamble.

BB3

Thanks for the heads up GOYB.

I think they love the geology in Rukwa/Tanz, as they were the original people behing the basket case which is HE1 (helium one global). They moved out of it to set up Pulsar (before the wheels came off), and by the looks of it are now going back.

Ive taken a small, but not insignificant, position as its far to early stage for me. The geology is proven and it will supply Asia unimpeeded of US and EU influence..

Suggested timeline on their website looks very short to production, but I guess they will have a ton of contacts to help deliver production by the time they find a commercial deposit.

BB3

Looks like the fun and games have begun.

I remember plenty of them in the early days of RKH. When they want your shares and the newsflow is not 100% tight then there are chinks in the armour that can be exploited for financial gain and the bigger the prize the bigger the threat of it happening. A large Helium deposit in the US with a small market cap and small share float that is thinly traded is a perfect opportunity to play with.

Roll on the end of uncertaintly and lets have thoes flow test numbers.

BB3