Potential and seismic The interviews by the Pulsar CEO have been quite effective today in my view. One of his phrases about the current well really stuck with me, and I spent some time staring at the seismic on slide 17 of the current presentation.
https://files.elfsightcdn.com/eafe4a4d-3436-495d-b748-5bdce62d911d/cb38f30b-6fb0-4703-9b96-6a61cb5fa740/Pulsar_corp_deck_June24-FINAL.pdf
In his presentation today at the Emerging Growty event, he said that Pulsar had only "kissed the top" of the helium-bearing fractured reservoir. I then looked again at the presentation, read the original news releases, and I see what he means.
Thus far they have only drilled through 450 feet of the fractured section. They are proposing to drill through a further 2,300 feet. If there is no water formation--a big if admittedly--the pressure and quantity of gas could be huge. But wait: that's just this well. Now look where they've indicated a line for the next well. In that location, the fractured zone looks to be even wider--close to 4,000 feet.
A lot of this is speculative at this stage, but the potential of just this well is actually far above this initial set of results (remember: the well was halted because the warm weather arrived early). And then when you consider the step-out wells, it becomes fairly mind-blowing.
Apologies for the pumping-type post, by the way. I don't normally go in for these, and I'd add that a lot could still go wrong, but it's always fun to speculate....