Pulsar Helium Inc (AIM:PLSR, TSX-V:PLSR, OTCQB:PSRHF) (LSE:PLSR) shares climbed in Friday's early deals, rising 7% to 57p, after it reported an additional high-pressure gas encounter at its Jetstream 5 appraisal well at the Topaz Project in Minnesota.
The company said the new gas zone was intersected at approximately 2,857 feet depth.
The bottom-hole pressure of the new zone was estimated at approximately 1,292 psi, the highest recorded at the project to date, Pulsar said, adding that this follows previously reported gas zones at shallower depths within the same well.
Pulsar told investors that drilling at Jetstream 5 remains ongoing toward a planned total depth of up to 5,000 feet. Following completion, the rig is expected to move to Jetstream 6, located around 2.2 kilometres southwest of the discovery well.
"A combined flow testing and pressure build-up program is anticipated to begin in early February 2026, over approximately six weeks per well. The campaign will cover Jetstream wells #3, #4, and #5, with interim results to be shared with the market once data is collected and verified," it said in a statement.