Probably state owned land
Maybe, but theyâre held up on leasing, too. I donât know Minnesotaâs deal, but they might have a statutory 20% on state minerals - that would be pretty high for a non-private lease.
The company and state have been talking for years⊠I think they both are well aware where it will shake out. The process ( until formal public process is finalized ) involves the MN executive team approving any leases until that open process. Also and very importantly in my opinion, it requires them to take into account control of adjacent land. I think they would both want some sort of certainty. It was a shame the MN legislature was exactly 50/50 this year so almost nothing got done, not just Gas extraction.
The hold up is in finding who owns the mineral rights. Many cases go back over 50 years so finding the rightful owners is taking a lot of time.
Iâm pretty familiar with that work, and 50 years is no big deal. 
Unless youâre trying to do it super-cheap with no people - that can take a while. Itâs often more expensive to be cheap, though.
In a non-oil and gas state, they probably arenât contending with the kind of fractured royalty and mineral rights that you see elsewhere. But there are probably lots of heirship things to work through.
Finding people to do the work has become difficult. The last downturn killed the land business. Even now, most work is utility ROW, along with carbon, hydrogen & thermal. O&G work is scarce.
The people I know are staying pretty busy in Texas and NM, but they arenât gonna take a pay cut to go chase a short-term project in Minnesota. If the pay was right, he should be able to get people out of North Dakota or the Appalachians.
Landmen used to just go where the work took them, but people donât really do that as much anymore. Of course, companies donât want to pay for travel or increase day rates, either, so thatâs a big part of it.
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Quantum Hydrogen Inc. has recently secured a significant land package (60,000 acres) overlying iron-bearing rocks, specifically the Biwabik Iron Formation, in the Animike Basin in the Lake Superior region of North America.
Pulsar just acquired this from Quantum. Pretty close to Topaz
Iâm confused by that wordingâŠbut nevertheless, is this being reported as a helium play or possibly commercial hydrogen play âŠor both at this time.
I canât find a stock listing for a âQuantum Hydrogen Inc.â ?
Is that the right name ?
They bought it from a âhydrogen companyâ but this is a helium play
This âhydrogen companyâ is located on Briar Forest
When I saw the thread header I thought this was about CV using Topo Chico to calm his flatulence.
Pull my finger
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5th well hit gas as well ( this time 3 zones, up to 1,250 psi ⊠first well was 1/4th that pressure ) ⊠https://s203.q4cdn.com/212931576/files/doc_news/Pulsar-Helium-Reports-Additional-High-Pressure-Gas-Encounter-at-Jetstream-5-and-Outlines-Upcoming-Testing-Program-2026.pdf ⊠Any update from your landman buddy on how locking up the additional acreage is going?
They picked up a large area in Michigan pretty cheap. I read about it and, it seems, getting things done in Michigan is easier than Minnesota.
My landman doesnât have much news lately. Heâs been too busy in Utah & Arkansas. He did say he did some leasing in northern Arizona for a helium play. I didnât get who hired him.
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Stock price continues up. Of course, it remains under $1 and continues to be a spec play. Less so since I first bought in.
My guy said they are starting seismic on Topaz over the next couple of weeks. They had an executive change and the new VP for land has a bunch of projects for him
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Donât look nowâŠPulsar is going crazy
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Pulsar hit another well. The importance of the 5th & 6th well greatly expands the footprint. Looks like someone is seismic will be making a few bucks
- Jetstream #6 location: Jetstream #6 is located ~1.3 miles (2.1 kilometers) southwest of the discovery well (Jetstream #1) at Topaz, a significant step-out that further extends the projectâs footprint.
- Shallow pressurized gas: Gas was encountered at approximately 1,287 feet (392 meters) depth, with a preliminary bottom-hole pressure of approximately 576 psi, indicating a strongly pressurized system. Gas was visibly seen bubbling through the drilling fluids at surface, confirming active gas flow under pressure.
- Drilling progress: Around-the-clock drilling (24-hour operations with rotating crews) is ongoing as Jetstream #6 advances toward its target depth of between 3,000 and 5,000 feet (914 to 1,524 meters). The well is being drilled using continuous HQ core drilling (3.8 inch (96.0 millimeter) hole diameter) to maximize geological sample recovery while maintaining efficient progress.
- Consistent success: All six Jetstream appraisal wells drilled to date have encountered pressurized gas (a 100% success rate). This consistent success across the program underscores the emerging continuity of the gas-bearing system and the potential of the Topaz Project.
- Well-Testing: Flow and pressure testing equipment is scheduled to arrive on February 15th, and will be used to test Jetstream appraisal wells #3 and #4. Samples will also be then sent for gas analysis at a laboratory. Appraisal wells #5 and above will be tested when the drill program concludes, which is likely to occur late March, 2026.
Thomas Abraham-James, Pulsar Helium President & CEO, commented:
âAchieving pressurized gas intersections in every Jetstream appraisal well drilled so far speaks to the strength of the geological model weâre developing at Topaz. Jetstream #6 is an important step-out well that is 1.3 miles to the southwest from the discovery well, and seeing consistent results at this distance gives us confidence as we transition into the well testing phase. Our focus now is on building a high-quality technical dataset that will allow us to better understand the scale and characteristics of this system as we continue advancing the project.â
Feb+9+2026+NR±+Figure+1
Figure 1 Location map for the Jetstream wells drilled to date at Pulsar Heliumâs Topaz Project in Minnesota, USA.
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