Pulsar Announces New Helium Legislation in the State of Minnesota
Pulsar Helium Inc. (TSXV:PLSR, OTCQB:PSRHF) has announced new legislation in Minnesota enabling helium exploration and production on state lands. The legislation, effective May 22, 2024, follows Pulsar's advances at their Topaz helium project, where the Jetstream #1 well recorded a 13.8% helium flow.
This new regulatory framework allows the issuance of leases for non-hydrocarbon gases, including helium. Pulsar has already applied for new leases in targeted areas. Prior to this, leases were only available on privately held mineral rights. Permitting processes for helium production will be managed through a temporary framework until final rules are established.
By January 15, 2025, the Minnesota Department of Natural Resources will recommend legislative changes to support non-hydrocarbon gas exploration and production. Pulsar plans to expedite development at Topaz and broaden its operations in Minnesota, with CEO Thomas Abraham-James expressing gratitude for the state's support.
- New legislation allows helium exploration and production on state lands in Minnesota.
- Jetstream #1 well at Topaz project flows 13.8% helium, indicating substantial resource potential.
- Pulsar has applied for new leases in areas of interest for helium and hydrogen.
- Temporary regulatory framework established to facilitate helium production permits.
- Minnesota Department of Natural Resources to propose further supportive legislative changes by January 15, 2025.
- Clear regulatory pathway established for Pulsar to advance Topaz project to production.
- Plans to accelerate work and expand footprint in Minnesota following legislative support.
- Permitting of helium production projects currently governed by a temporary framework, creating potential uncertainties until final rules are adopted.
- All existing leases are with private entities, indicating a scope of operations prior to new legislation.
- Dependence on upcoming recommendations and legislative changes, which may introduce delays or additional hurdles.
VANCOUVER, British Columbia, May 23, 2024 (GLOBE NEWSWIRE) -- Pulsar Helium Inc. (TSXV:PLSR & OTCQB:PSRHF) (“Pulsar” or the “Company”) is pleased to announce that the State of Minnesota has enacted new legislation that includes helium exploration, production and for leasing on state lands following advances made by the Company at its Topaz helium project where the Jetstream #1 well flowed
The new regulatory framework allows the State of Minnesota to issue leases for exploration and production of non-hydrocarbon gases (including helium), with Pulsar already having lodged an application for new leases in areas of interest for helium and hydrogen. Prior to the new regulations, leases could only be issued on mineral rights that are privately held, accordingly all of Pulsar’s existing leases are with private entities.
Permitting of helium production projects will be governed by a temporary regulatory framework prior to final rules being adopted. By January 15, 2025, the Minnesota Department of Natural Resources commissioner must submit recommendations to the relevant legislative committees for statutory and policy changes to facilitate exploration and production of non-hydrocarbon gases (including helium) and support temporary permits for gas (including helium) exploration and production.
President and Chief Executive Officer Thomas Abraham-James commented: “Minnesota is open for business, and we are grateful to the State for supporting this new industry. The new legislation gives Pulsar certainty moving forward, creating a clear regulatory pathway for us to take Topaz to production. As a result, we are now planning to accelerate our works at Topaz and expand our footprint in Minnesota.”
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR and on the OTCQB with the ticker PSRHF. Pulsar’s portfolio consists of the Topaz helium project in Minnesota that has been drilled and flowed
On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
Thomas Abraham-James President,
CEO and Director Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward–looking statements and forward–looking information within the meaning of Canadian securities legislation (collectively, "forward–looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward–looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward–looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to temporary permits for gas (including helium) exploration and production being issued to Pulsar on a timely basis, the application for new leases being successful. No assurance can be given that these expectations will prove to be correct and such forward–looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward–looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward– looking statements. Such risks and uncertainties include but are not limited to Pulsar may be unsuccessful in drilling commercially productive wells; drill costs may be higher than estimates; delays in the commencement of drilling, a temporary permit may not be issued, and other factors set forth under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the Final Prospectus. The Company undertakes no obligation to update or revise any forward– looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward–looking statement. Any forward–looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
FAQ
What is the significance of the new helium legislation in Minnesota for PSRHF?
When did the new helium legislation in Minnesota take effect?
How does the new legislation impact Pulsar Helium's Topaz project?
What percentage of helium was reported in the Jetstream #1 well at the Topaz project?
What are the immediate plans for Pulsar Helium following the new legislation?
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How were Pulsar Helium's leases managed before the new legislation?
What is the temporary framework mentioned in the PR?
