Member Info for dai2belts

RNS says casing and testing, so I assume flow testing... If the production liner is not slotted then they will need to puncture the casing to allow gas into the bore.. Its lacking the details to make clear

Maybe they are doing a Tai-1, skipping the upper zones after all the excitement, only testing TD

Success would be great as the winnings will be placed on GEX and Pulsar, and maybe He1's US share..

Also, maybe Mossman

Posters on Hex saying wire-line indications were strong ?

From the RNS pausing activities

"While preparing the hole for wireline logging, the rig encountered caving with the Mowry shale from ~2,100 feet onwards which compromised the stability of the wellbore. "

And I don't see any mention of wire-line results in todays update..

Not sure, what's happening there...

I thought originally they were going to wire-line the open hole before casing, each formation, but they had the unstable zone, so stopped.

They then cased the intermediate section, so a steel tube and a layer of cement which must have some impact on electrical signals during logging.. They then run production casing to TD, which I believe is slotted(holes) with no mention of wire-line which I thought would determine to zones to be tested...

Will have to wait and see..

Typo

Zephyr might be worth watching, their 16-2 well produced a fantastic return, ~2p to 5.5 p,, For some reason it drifted low even though a fully funded drill ? Now they are discussing the finer details of a JV to fully fund a lateral extension to enhance returns before production, q4/q1, ... Maybe that drift in sp will repeat if it was manipulation rather than possible funding worries

I can't buy Aquis listed shares so MD is out..

Last time I looked into TXP they were 50p..

Zephyr might be worth watching, their 16-2 well produced a fantastic return, ~2p to 5.5 p,, For some reason it drifting low for a fully funded drill ? Now they are discussing the details of a JV to fully fund a lateral extension to enhance returns before production, q4/q1, ... Maybe that drift in sp will repeat

.................................................................

Hex, what's the plan with wire-line and logging ?

Updates reads they are running casing all the way to TD, so that intermediate section will have two layers of casing, ....

Thats two layers of steel and concrete between electronic logging tools and the formation over that section ?

.............................................

I looked at the p50 values so far and compared Mcap..

On AIM listing company gave a Mcap of £31.6

Recoverable Prospective Gross (MMcf) 380.2 vs. Recoverable Prospective Net (MMcf) 40.3

Net P50 Co2 303mmcf

Using $500mcf He and $30mcf Co2 I came up with a value for both of ~$30m

So was thinking I have something wrong ??

RNS in

Jan6 2024

Pulsar Helium Inc. (TSXV:PLSR & FRA:Y3K) (“Pulsar” or the “Company”) has arranged a non-brokered private placement of up to 18,500,000 units (each, a “Unit”) at a price of CAD$0.23 per Unit to raise proceeds of up to CAD$4,255,000 (the “Offering”). Commitments have been received for most of the Offering.

Each Unit consists of one common share (each, a "Share") and one transferable common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase, for a period of 24 months from the date of issue, one additional common share of the Company (each, a "Warrant Share") at an exercise price of CAD$0.36 per Warrant Share.

https://s203.q4cdn.com/212931576/files/doc_news/2024/01/Pulsar-Announces-Private-Placement.pdf

Funding through warrants

April 2024, This press release serves as delivery of the Acceleration Notice indicating the election of the Company to accelerate the expiry date of the Warrants to May 6, 2024

Each Warrant entitles the holder to purchase one common share of the Company at a price of CAD$0.45 per warrant share. If all 7,425,633 remaining Warrants are exercised, gross proceeds to the Company will total CAD$3,341,535, however there can be no assurance that these remaining Warrants will be exercised prior to the Accelerated Expiry Date.

As of April 3, 2024, 2,870,225 Warrants have been exercised for gross proceeds of CAD$1,291,601. In addition, as of April 3, 2024, 886,472 broker warrants issued to Haywood Securities Inc. (of a total 1,061,472) have been exercised at exercise prices of CAD$0.30 and CAD$0.45 for aggregate gross proceeds of CAD$314,692.

THE COMPANY’S CURRENT CASH POSITION IS CAD$3.1 MILLION.

https://s203.q4cdn.com/212931576/files/doc_news/2024/04/Pulsar-Announces-Acceleration-Of-Warrant-Expiry-Date.pdf

Investor meet August 2024

https://www.youtube.com/watch?v=Mbv5C9lfWeA

MMm. my point 2..dry in just over 1 year....

-Flow testing recorded a maximum rate of 821 Mcf per day (23,248 m3 per day) under well-head compression..

That doesn't say 821mcf/d helium so likely all gases mix, so at 10%. He , thats 82.1mcf/d, and at that rate extracting 0.4Bcf would taken +10 years...

The 2011 well

https://youtu.be/KnRw6A7UqrI?t=790

I believe all those funders buying into the AIM listing did so at 25p, and the new listing helped the MC reach £31.6m..

But Pulsar Net P50 Resources, He 40mmcf and Co2 303mmcf don't seem worth much more, and probably less using prices in the ground... I must have something wrong..or missing or both

https://pulsarhelium.com/investors/news/news-details/2024/Pulsar-Announces-a-Successful-Conditional-Fundraising-and-Publication-of-an-Aim-Admission-Document/default.aspx

Anybody looked at Pulsar, listed last Friday ?

Or looked and said No ?

Need some help here, likely missing something

Confused on two things...

1. Recoverable Prospective Gross (MMcf) 380.2 vs. Recoverable Prospective Net (MMcf) 40.3 vs Mcap

.

If Pulsar are entitled to only 40mmcf, then their cut is worth about $20m using $500

(40mmcf x $500mcf,.... 40,000 x 500=20m).................

But I have not looked at Co2 yet US$30 per Mcf, maybe $9m (303mmcf Net P50)

So $30m !?

.

2.Flow rate, if the well flows at max 821mcf/d, it would flow 0.3Bcf/y, yet resource p50 estimate is just 0.4Bcf, so it would be dry in just over a year...

So Mcap =£32m, Net Asset $30m ?????? I have something wrong???

===================

Prospectve Resources

" 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 Prospectve Resources as they have yet to be tested by any wells."

HL first ?

They only listed about 1 year ago, so very new..

I am not sure either , reading through their updates they are building their resource estimates rather than shortest route to production,, so deepen and flow, then start stepping out.. Listening to the interviews deepen and flow then economic evaluation...

Are you in Hex ? luckily I am not as you would be on a loser ;)

Mmmmmmm ? Claiming 0.4 Bcf Prospective He in Sept Presentation, thats gross values but elsewhere Net values are shown at 0.04bcf, so just 1/10 gross , yet net contingent are 1/4 gross contingent ???

P50 Gross Recoverable Helium Prospective Resource 0.4 Bcf^

P50 Gross Recoverable CO2 Prospective Resource 2.9 Bcf^

page 13

https://s203.q4cdn.com/212931576/files/doc_presentations/2024/Sep/10/pulsar_corp_deck_sep24_web.pdf

===================================================

CPR... page 5, after resource estimate table page 4

"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, sensverances or other payments required."

Evaluated Helium Contingent and Prospective Resources as of July 31, 2024 (unrisked)

Category Level of

Certainty

Best Estimate Helium

Recoverable Contingent Gross (MMcf) 22.9

Recoverable Contingent Net (MMcf) 5.9

Recoverable Prospective Gross (MMcf) 380.2+++

Recoverable Prospective Net (MMcf) 40.3 +++

https://s203.q4cdn.com/212931576/files/doc_news/2024/08/PLSRNR2024-32_Resource-AIM.pdf

Signed a new drilling contract with Capstar Drilling to deepen the well to fully penetrate the entire interpreted helium-bearing zone.

The rig is scheduled to commence drilling this quarter, deepening the jetstream #1 well by c.500m,

with the option to drill an additional two step-out wells.

https://s203.q4cdn.com/212931576/files/doc_news/Pulsar-Announces-Positive-Seismic-Interpretation-That-Increases-the-Potential-Opportunities-of-the-Topaz-Helium-Project-2024.pdf