The
Topaz Project in Minnesota’s Iron Range
Pulsar Helium, Inc. tested an appraisal
well at its Topaz Project in Northeast Minnesota at 12.4% helium and it could
be the biggest Helium concentration discovery in the U.S. The deposit was
actually discovered in 2011 with other shows of inert gas having been recorded
in the Iron Range region as well. N2 and CO2 are also present in the area. The
appraisal well was drilled to 2200 ft.
I did a long post back in December about
Helium called Helium
Exploration: State of the Science: Geology, Reserves, Economics, and Some Plays
and Prospects . In that post I mentioned some possibilities along the Mid-Continent
Rift System, part of which runs through Eastern Minnesota. This play would
confirm the potential of the rift system, which has an extensive range. Exploration
for helium and natural hydrogen is ongoing with active projects in Kansas and
Nebraska.
The following slides from Pulsar’s latest corporate
presentation explain the discovery, helium reserves, pricing, uses, and market factors.
Pulsar plans
to have a feasibility study conducted by an independent third party “to
study the size of the well and whether it could support a full-service helium
plant.” That process may take till the end of the year, they say. Helium is currently in short supply and
commands a high price so development of confirmed new resources could be quite
helpful in both securing supply and perhaps in time, lowering the prices.
Helium is best used near to where it is produced. Northeast Minnesota is a two-day
drive or less to most places in the U.S. Helium is a small molecule and leakage
rates can be high when it is shipped internationally over long periods of time.
Update
on Helium One’s project in Tanzania
On March 7, Helium One provided an anticipated
update on well testing results for their Tanzania helium project. A drill stem
test (DST) of the Itumbula West-1 well measured a minimum flow rate of 0.5
million cubic feet per day, with a helium concentration of 4.7%.
"The
company's focus is now on appraising and evaluating the resource potential at
Itumbula West-1," chief executive Lorna Blaisse said in a statement.”
“Whilst
progressing the subsurface work, to better understand the resource estimates in
a fractured Basement and fault play, we are planning the next phase of
operations.”
“An
extended well test at site will enable us to confirm commercial flow rates and
fluid composition, whilst continuing to plan for development and production
scenarios in parallel.”
The company’s owned drilling rig is awaiting its next
hole.
The Ramsay Natural Hydrogen and Helium Project;
Yorke Peninsula, South Australia
Meanwhile, on the Yorke Peninsula in South
Australia, company Gold Hydrogen is beginning to test their recent exploratory
wells, Ramsay 1 and Ramsay 2, which confirmed historical data. The wells found
natural hydrogen at up to 86% purity and helium at up to 6.8% of raw gas. The
wells are providing valuable gas samples for lab analysis. “The data will
provide a better understanding of the characteristics of the natural hydrogen
and helium reservoirs, including an understanding of potential wellbore skin
damage from drilling.” Gold Hydrogen claims the area has “large-scale
potential” and that may well be the case. “The independent best estimate
prospective resource for natural hydrogen on PEL 687 is 1.3 billion kilograms
and for helium, the mean estimated prospective resource is 96 billion cubic
feet (Bcf) over around 25% of the tenement.” Future plans include more wells
to be drilled and more 2D seismic for 2024, completion designs to be worked
out, and plans for pilot production and further commercialization. The company
does note that natural hydrogen production is very new. Producing both natural
hydrogen and helium together will likely have both advantages and challenges.
References
"A
dream. It's perfect": Helium discovery in northern Minnesota may be
biggest ever in North America. Jonah Kaplan. Updated on: February 29, 2024. CBS
Minnesota. "A
dream. It's perfect": Helium discovery in northern Minnesota may be
biggest ever in North America - CBS News
Pulsar Helium Inc.
Corporate Presentation. February 20, 2024. 65d652fee855ca9a90c2b8af_Pulsar_corp_deck_20Feb24_FINAL-compressed.pdf
(website-files.com)
Helium One reveals
rates from Itumbula as it advances to appraisal phase. Proactive. March 7, 2024.
Helium
One reveals rates from Itumbula as it advances to appraisal phase | AIM:HE1,
OTCQB:HLOGF (proactiveinvestors.com.au)
Gold Hydrogen begins
testing natural hydrogen and helium exploration well at Ramsay Project. Meagan
Evans. Proactive. March 5, 2024. Gold
Hydrogen begins testing natural hydrogen and helium exploration well at Ramsay
Project (proactiveinvestors.com.au)
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