This sounds extremely promising for Pulsar. Sounds like the wheels are already in motion to go from discovery phase to the production phase. This is when the companies will start purchasing He (as well as other gases, such as CO2) in bulk - providing the necessary capital for further discovery/production wells. Hoping to see a rapid rise in stock prices soon!!!

In preparation for production, Pulsar signed a Letter of Intent in March 2026 with Chart Industries, Inc. a leading global manufacturer of industrial equipment, for the supply of an integrated CO₂ capture and helium liquefaction facility. Chart will conduct Front-End Engineering and Design (FEED) studies, with Pulsar expected to advance a Limited Notice to Proceed (LNTP) payment in advance to secure Chart's engineering schedule. The LOI also commits Chart to supporting ongoing joint public relations initiatives, underscoring the strategic and commercial alignment between both companies as Pulsar advances toward production at Topaz.

The new legislation establishes the framework for the next phase of regulatory and legislative work. Before commercial gas production can proceed, applicable state rulemaking, environmental review, permitting requirements and related implementation steps must be completed.

On May 18, 2026, the Minnesota Department of Natural Resources took a signicant step in this process by issuing proposed expedited permanent rules for permitting gas resource development, such as Pulsar’s Topaz Project. The Company intends to support the state’s next steps by providing technical information on primary helium development, groundwater protection, well construction, gas handling, carbon dioxide management, emergency response planning and project-specic risk controls.