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Depth of discovery well was 1778 feet. I will just answer this question then move on from Pulsar. Hoping to see good news from Tai 3 testing this week. Could be very exciting to get strong indication of a discovery and to see the helium concentrations on gas samples they hopefully obtain.
Helium Discovery on Pulsar project.
In 2011, a previous explorer was drilling a series of boreholes targeting nickel and platinum group element (PGE) mineralization when they unexpectedly encountered a pocket of high-pressure gas in at a depth of 1,778 feet (541m) in borehole LOD-6. The gas pressure was sufficient to blow the core tube and associated drill fluid out of the hole and is therefore considered to be an over- pressured reservoir. The borehole was allowed to flow with the expectation the pocket would be depleted in a matter of hours, however the gas flow persisted for four continuous days with no obvious drop in pressure. The gas flow velocity was measured using an anemometer designed for domestic wind speed, reaching its maximum speed recording of 150 km/hr prior to breaking under the gas pressure.
Two gas samples were collected from the flowing LOD-6 borehole. The samples were analyzed by Dr. Barbara Sherwood-Lollar at the University of Toronto and at Pace Laboratories. All samples showed some air contamination as can be expected given the underprepared field conditions in which they were collected. Nonetheless, gas compositions reported by the two labs were in good agreement, with the least air-contaminated sample composition [measurements included 10.5% helium, 0.1 % O2 and 2.4 % methane and other hydrocarbon gases]. After analyses of the gas confirmed that it was non-combustible [mainly CO2 and Nitrogen] , LOD-6 was sealed with bentonite and permanently abandoned.
Geology
The Topaz Project is located within the Mid-Continent Rift Zone (MCRZ) in northeastern Minnesota, USA. The MCRZ is a 1.1 billion-year-old rift that extends from Kansas through Minnesota and into western Ontario, Canada. The Topaz Project is situated within the Bald Eagle Intrusion (BEI) of the Duluth Complex, a large mafic igneous body that intruded into the Biwabik Formation of the Paleoproterozoic Animikie Group. The Duluth Complex can attain a thickness of over 15 km and is associated with the MCRZ.
Pulsar just started trading on US OTC as PSRHF so it has become easier to buy without extra commissions.
Just want to say I have many more eggs in He 1 basket. But I have been chasing primary helium opportunities around the world. And I live in MInnesota which many do not even know is in the central rift valley of NA extending fron northern MN to James Bay in Canada. So I want a little bit in Pulsar so I do not miss the prize in my own back yard while investing in Tanzania, Saskatchewan, and other places. I do know that the 2011 results were amazing and Helium One so far has proven nothing like that. High pressure blowout well with 10.5 % helium is different than some 10% helium seeps. It is worth it to see what a proper appraisal well with an advanced oil and gas rig finds. And that drill is fully funded. I also was a little influenced by the fact that a founder of helium 1 is all in on this prospect.
Not pumping this issue, may not be for anyone else and the MN connection influenced me. Not pumping Noble either though I have investment there too. I like having money on a few horses in the race for primary helium.
Not selling and have a bunch. Still hopeful, but lots of drama. Have been adding to Pulsar stake. Just consider these items:
1. High pressure gas (blowout really) with hard rock seal and zero well bore issues.
2. tested 10.5% helium. confirmed by outside lab.
3. Flowed for days with no decline and the well bore (mineral rig ) had to be plugged to stop the gas flow.
4. Appraisal well coming in February twinning the discovery well.
Being drilled by excellent drilling company with rig with no issues.
5. Testing all set, during drilling.
6. Infrastructure excellent.
7. In North America with huge demand searching for NA supply chain and putting incentives in place.
Anyway what if we had some of that. There would be a little less drama.
I would prefer to be 2/2. I would hate to be 0/2. But if I knew it would end up 1/2, Iām not sure which horse I would bet on. š
Now to be known as "the rig from hell". No rig has ever produced as many RNS in as few drilling days.
This might be another relatively easy fix. "Might" being the operative word. If they lose the junk in the hole it is disaster. The only answer would be a sidetrack and hope for a smoother drill to TD. The support services have been on site a long time. Wonder what they do all day.
You write: And talking of Pulsar Helium they are close to spudding their first appraisal well, and over the last month or so have been tweeting on a regular basis, they seem to be getting really excited and have even been to the UK last week trying to flog a couple of buckets of the stuff
https://twitter.com/pulsarhelium/status/1717858144527761585
Question is, what are they really getting excited about?
Pulsar is excited because they are spudding an appraisal well on December 10., 2023. Next to a well (not drilled by them) from 2011 that was drilled with a mineral rig to get cores to analyze for nickel and copper. The 2011 well ran into a high pressure pocket of gas that flowed spontaneously to surface at high flow rates for several days with no decrease. They collected samples and had to plug the well. The samples showed 10% helium. They have some subsurface data suggesting the reservoir may be quite extensive laterally.
You can understand why Pulsar is excited to drill this next well on December 10 with a proper oil and gas rig and well services all lined up. If Helium One hits a well anything like that original 2011 well we would be beyond excited - euphoric and ecstatic would be way too conservative.
A commercial natural gas well is a little far fetched. Natural gas is relatively cheap and you need huge volumes. You need a gas field, collection pipeline, gas processing facility. You can't just truck it to market, IN the big oil fields off guyana there is lots of associated natural gas, it is just re-injected. Same with natural gas from north shore Alaska. No facilities to do anything with it. It is re-injected. The beauty of helium is that is is 50 times more valuable than natural gas and can be purified with a$ 25-50 million plant and then trucked to market in containers. If the carrier gas is nitrogen that can just be vented. Of course finding a big natural gas field would be great (others have tried) but developing it would be years and would require ready access to major capital, likely a sale of the company to someone who has that. Just the way I see it. Let's find us some helium.
The September corporate presentation is very good. There is pretty good clarity in what they are doing, the suspense is about what they might find in the two wells. They hope to make a discovery. That is step one. An appraisal of commerciality is step two. And finding right partner to move quickly to production and sales is step three. That sequence will take 18 -36 months. But step one could happen very quickly. There are four wells in next month between Helium 1 and Noble trying to find a helium discovery and advance the hypothesis that Tanzania might become an source of primary helium at a scale that will make it an important contributor to global helium supply.
Slacker, don't be one. Immediately after they finish Tai 3 they are moving to a second pad drill a second well at a different prospect - Itumbala . That is where 10.2% helium seeps have been documented by the way. It is nor far away. Rig there, crew and support teams there, money in place. They even use the same camp I believe. They are completing civils on the second well right now. All of this has been covered very extensively on web site, in press releases, on social media, on this board and othe rboards.
True enough but buying at the low does run the risk of buying at the even lower. (catching a falling knofe which we have all been trying to do). Best plan is to time the buy at a clear reversal when a downtrend (Now firmly in place) is about to shift to a powerful sustained up trend. The up limb part of a reversal is actually safer to buy that the down limb. So if an uptrend develops (which I think it will) it will actually be very safe to keep buying through $US 1.00. (82 pence). Maybe higher or even much higher depending on strength of up trend. The trend becomes your friend. Because that is safer that is where institutions have more latitude to get on board, further fueling the upward move. Of course the fundamentals like steady ongoing ramp in productions and profits have to be delivered. And a few positive surprises along the way are helpful. And then there is the Cretaceous wildcard at Kraken or in Cipero block too which would add a whole different class of accelerant.
Is Tanzania an important source of primary helium and will it become a commercially important helium province? That question has been in play for almost a decade, fueled by field work and helped by analysis of seeps with important input from the Noble Gasses group at Oxford.
Well the next month is likely going to answer that question, or at the least advance it to the front burner or push it to the back burner. There will be results from four wells by two companies targeting several locations and multiple types of plays. The results of those four wells will
largely determine the short term direction, the prospects for the two companies and the amount investment that is going to flow into Tanzania to move toward production. Or not.
Exciting time indeed. This is the key moment that will determine if development of a helium industry in Tanzania will quickly become a reality or will drop off the radar. Glad I own Helium 1 and also Noble Helium to have a seat at the table for this exciting month.
They completed the repair on Friday and tested it thoroughly with the rig mechanic AND engineers from Epiroc (the rig manufacturer) conducting the testing. Then they restarted drilling for more than 12 hours before putting out the RBS, so they are pretty confident they are good to go. The engineers from Epiroc took a look at the rig during testing and probably hung around for awhile after drilling restarted.
Dai2bts: I am not sensitive about it. I just find it an interesting diversion as we wait for the rig to be repaired. This is day 11 of 14. Hoping to get an RNS before market tonight or at the latest tomorrow night. If update drags on beyond that and the two weeks gets closer, people will start worrying that the rig has a more serious trouble.
Skittish: Thank you so very much for all that research. Makes the whole story of Pulsar even more interesting to me. Do you know that here has never been an oil or gas well drilled in MN. Even though we are next door to North Dakota, we have NO hydrocarbons. There is not even a system in the state government to apply for a license for oil and gas drilling rights. Pulsar has acquired non hydrocarbon gas rights from some private landholders but there is also some state land within their zone of interest and the state has no clue even how to grant a license. The well to be spud December 10 is the FIRST oil and gas well ever to be drilled in MN. It is being drilled by Capstone Drilling out of Casper Wyoming which is a very good drilling company. They have lined up all appropriate well services. Anyway it is a log shot, I have followed the primary helium in Tanzania story almost since the beginning and I had no idea it would develop a weird little link to MN. Thomas A-J has kept his fingers in the helium story and apparently in Tanzania as well. Pulsar is also looking at a primary helium concept in Iceland, another spot with no oil and gas at all, but has a rift valley along the mid-Atlantic ridge where you can actually see the crack in the earth.