RE:RE:RE:RE:RE:SELL in a May and BUY PULSARI agree with your cautious optimism and your assessment of huge potential.
However the big de-risking event is the coming well testing program. The need two things. 1. High helium concentration. Check that one off, they have mind boggling 13.8%. and 2. High and sustainable flow rates supporting commercial production. That is the de-risking event. The upcoming well testing program will include extended flow tests, pressure build up test, validation of size of resource, assignment of reserves, and declaration of commerciality.
A second step out well makes sense to give some redundancy and add scale. But it is not logical next step unless Jetstream 1 proves a commercial discovery, and at that point the shares (and the company) will already be de-risked.
So the testing program is all important and is a pretty binary event. Pulsar is either a very big deal, or not. The exciting part is the answer will be very clear within a few months. A second well, regulatory hurdles, getting financing or partnering to build a plant, logistics of selling the helium - all of that is low risk and can be accomplished with high gegree of certainty - as long as the upcoming testing proves commercialy. Then they have: 1.high helium concentration and 2. a reservoir that will support sustained flow at a high enough rate. That is all they need.