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Quantum Helium #QHE – Sagebrush Engineering Update and Colorado Drilling Opportunities
Quantum Helium Limited (AIM: QHE) is pleased to provide an update on engineering work at its Sagebrush Project (90% Working Interest) and on additional drilling opportunities across its Colorado portfolio.
Following the initial Sagebrush-1 Extended Production Test (“EPT”) completed earlier this year, the Company is finalising an engineering assessment to define the next phase of testing, stimulation and field development.
The EPT confirmed helium-bearing gas at approximately 2.5%, strong reservoir connectivity and rapid pressure recovery. It also identified commercial oil in the Leadville Formation.
Quantum expects the next programme to use a more extensive stimulation treatment to increase contact with the natural fracture network and improved sustained flow rates from which to base development planning. Final recommendations are expected shortly.
In parallel, permitting and drill planning are advancing across five additional opportunities across the Company’s Sagebrush and Coyote Wash (100% Working Interest) projects.
Highlights
- Engineering assessment nearing completion; the next Sagebrush-1 programme is expected to include further testing and a larger stimulation treatment
- EPT confirmed approximately 2.5% helium, strong reservoir connectivity, rapid pressure recovery and commercial Leadville oil
- Larger stimulation treatment intended to increase fracture-network contact and improve flow rates
- Permit applications being prepared for the near-term Little Ute SE and Yellow Jacket SE oil targets in the Sagebrush project area
- Three larger follow-on prospects have also been identified: Mariano Wash SE and Sagebrush East within Quantum’s existing project areas, and Lula within adjacent acreage for which an application is being prepared for submission to the Tribe.
Sagebrush Reservoir Optimisation
The initial EPT was designed to characterise the Leadville reservoir and guide future development. It confirmed helium-bearing gas at approximately 2.5%, consistent with historic results from Sagebrush-1.
After the initial acid stimulation, reservoir pressure recovered rapidly to more than 70% of estimated virgin pressure within four days, with analysis indicating that recovery could exceed 90% with additional build-up time. The response demonstrated strong connectivity with the reservoir’s natural fracture network and provides an encouraging technical basis for further optimisation. While consistent flow rates were not established during the initial programme, due in part to liquids build-up, the results are informing the design of the next stimulation and testing programme aimed at improving reservoir contact and sustained flow performance.
The test also identified commercial oil within the Leadville Formation, adding a potential development opportunity alongside helium.
Engineering and Reservoir Optimisation
The engineering and reservoir optimisation assessment combines EPT results with seismic, geological, reservoir and historic well data. It is evaluating a larger stimulation and testing programme designed to increase fracture-network contact and improve gas and oil productivity.
The assessment will define:
- the stimulation and test design;
- the likely effect of increased reservoir contact on gas and oil productivity;
- reservoir drainage, well spacing and any need for additional development wells;
- production and surface facility requirements; and
- the pathway to commercial helium production and integrated oil development.
Final recommendations are expected shortly and will determine the scope of the next Sagebrush-1 programme which will be funded from the Company’s existing cash resources. Shareholders will be updated when the programme is finalised.
Building the Next Generation of Drilling Opportunities
Technical evaluation has identified five new drilling opportunities across and adjacent to Quantum’s Colorado acreage: two near-term oil targets and three larger helium and oil prospects.
Permit applications are being prepared for the two most advanced Ismay targets: Little Ute SE and Yellow Jacket SE.
Little Ute SE (within existing Sagebrush acreage)
The Company’s integrated technical evaluation, incorporating seismic interpretation and other geological and subsurface workstreams, has identified an interpreted extension of the Upper and Lower Ismay reservoirs.
Yellow Jacket SE (within existing Sagebrush acreage)
Interpretation of the Company’s seismic and wider subsurface dataset supports an extension of the productive Upper Ismay trend.
Figure 1. Sagebrush acreage shown in green, Coyote Wash acreage shown in yellow, including the two lowest-risk candidates.
Three larger follow-on opportunities have also been identified:
Mariano Wash SE (within existing Coyote Wash acreage)
Integrated seismic and geological interpretation has identified a Lower Ismay oil target at Mariano Wash, with a secondary Upper Ismay objective interpreted as an extension of existing production.
Lula (adjacent to Sagebrush acreage)
A dip-closed Mississippian helium and oil prospect extending towards basement. Technical interpretation indicates a potential multi-Bcf gas accumulation with helium concentrations of approximately 1-2% or more; Sagebrush-1 results also indicate possible oil charge.
Sagebrush East (within existing Sagebrush acreage)
A higher-impact Mississippian helium and oil prospect associated with the wider Sagebrush-1 structure and under continued technical evaluation.
Figure 2. Near-term field extensions and larger helium prospects.
An updated investor presentation covering the Colorado portfolio is being finalised and will be published on the Company’s website.
Additional Acreage
Quantum is in the process of preparing to submit applications for additional acreage around its existing projects. If successful, the applications would increase exposure to geological trends identified through recent technical work. Further details will be provided as the applications progress.
Colorado Growth Strategy
Quantum aims to build a multi-field helium and oil business in Colorado. It holds independently assessed gross 2U helium resources of 1.104 Bcf at Sagebrush and Coyote Wash, alongside existing oil production and newly identified Leadville oil potential.
The Sagebrush programme, Coyote Wash, five additional drilling opportunities and possible acreage expansion provide a multi-year pipeline of exploration, appraisal and development activity.
Quantum’s immediate priorities are to complete the Sagebrush engineering and optimisation assessment and recommended next phase, advance permitting and infill drill planning, and assess opportunities to expand its acreage and production base.
OTC Markets Update
Quantum has now provided all requested documentation in connection with its proposed OTC Markets listing in the United States, with the application confirmed to be in good standing and the review process nearing completion. The Company expects to receive further confirmation shortly regarding the anticipated listing date and will update shareholders as the process progresses.
Howard McLaughlin, Chief Executive Officer of Quantum Helium, commented: “Our work at Sagebrush continues to strengthen our confidence in the project. The initial programme confirmed helium at approximately 2.5%, strong reservoir connectivity and rapid pressure recovery, while also identifying commercial oil within the Leadville Formation.
The engineering and optimisation assessment is now shaping a more extensive stimulation and testing programme designed to increase reservoir contact, improve Sagebrush-1 flow performance and provide the technical foundation for the next stage of commercial development
At the same time, we are advancing permitting for the lower-risk Little Ute SE and Yellow Jacket SE oil targets, while Mariano Wash SE, Lula and Sagebrush East provide further significant helium and oil growth opportunities. We are not only progressing Sagebrush towards its next phase, but also building a broader Colorado drilling pipeline with the potential to support a multi-field helium and oil business.”
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’) which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon publication via Regulatory Information Service (‘RIS’), this information is now in the public domain.
Enquiries:
| Quantum Helium Limited
Carl Dumbrell Chairman
|
NOMAD and Joint Broker
SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
| Brand Communications
Alan Green Tel: +44 (0) 7976 431608 |
Joint Broker
CMC Markets UK Plc Douglas Crippen +44 (0) 020 3003 8632 Joint Broker OAK Securities Jerry Keen / Robert Bell Tel: +44 (0) 203 973 3678 |
Updates on the Company’s activities are regularly posted on its website: www.quantum-helium.com
Notes to editors
Quantum (AIM: QHE) explores, develops and produces helium, hydrogen and hydrocarbons, with projects in the United States and Australia. The Company targets opportunities that can generate operating cash flow and offer development upside while continuing exploration. Its portfolio includes several US projects and Australian royalty interests
SP Angel – Quantum Helium (QHE LN) Drilling opportunities identified
Quantum announced the results of a comprehensive geological and geophysical evaluation programme over the last 12 months across the Sagebrush (90% WI), Coyote Wash (100%) and the other acreage in its Colorado portfolio.
The Company has identified two lower-risk drilling candidates as potential near-term wells, with drilling targeted within approximately the next 12 months, subject to permitting, and operational priorities.
Three additional high-risk/impact exploration prospects have also been identified, representing substantially larger helium and oil opportunities for future potential drilling.
Quantum intends to continue refining and prioritising the opportunities generated by the seismic programme while advancing permitting, technical studies and commercial planning associated with future drilling.
In the last 12M, Quantum has undertaken a comprehensive technical programme across its acreage, including acquisition of 3D seismic, advanced seismic processing, detailed geological interpretation and integration of historical well and production data.
The programme has confirmed the integrity of the known helium-bearing structures at Sagebrush and Coyote Wash, refined the Company’s understanding of existing discoveries and, importantly, identified multiple additional drilling opportunities.
This work represents a significant step forward in Quantum’s technical understanding of its Colorado acreage and provides a substantially stronger foundation for future exploration, appraisal and development activities.
We expect a steady stream of news flow in the next 12M to validate the Company’s resource estimates and further de-risk the wider portfolio, progressing potential targets through detailed evaluation and development planning towards drill ready status.
*SP Angel acts as Nominated Advisor and Corporate Broker to Quantum Helium Ltd
Quantum Helium #QHE – Quantum’s 3D Seismic and Reprocessing Programme Defines Multi-Year Activity Pipeline
Quantum’s 3D Seismic and Reprocessing Programme Defines Multi-Year Activity Pipeline
Technical evaluation delivers a growing portfolio of near-term and high-impact helium and oil exploration opportunities.
Quantum Helium Limited (AIM: QHE) is pleased to announce the results of its comprehensive geological and geophysical evaluation programme across the Sagebrush, Coyote Wash and other nearby areas.
Over the past twelve months, the Company has completed high-resolution 3D seismic acquisition, together with the reprocessing and reinterpretation of all available historic seismic data, and a comprehensive review of historic drilling, wireline logs and production data, supported by integrated geological and geophysical evaluation across its Colorado acreage. This work has significantly enhanced Quantum’s understanding of the basin and transformed the portfolio from two established projects into a growing portfolio of future helium and oil exploration opportunities
Highlights
- Comprehensive interpretation of Quantum’s high-resolution 3D seismic and careful reprocessing of older 3D programs has significantly enhanced understanding of both the Sagebrush and Coyote Wash projects.
- Technical evaluation has transformed Quantum’s Colorado acreage from two established projects into a growing portfolio of future drilling opportunities.
- Two lower-risk drilling candidates identified as potential near-term wells, with drilling targeted within approximately the next 12 months, subject to permitting, and operational priorities.
- Three additional high-impact exploration prospects have been identified, representing substantially larger helium and oil opportunities for future drilling.
- Ongoing geological evaluation continues to generate additional exploration concepts across Quantum’s Colorado acreage, providing further long-term growth potential.
- Confirms Sagebrush and Coyote Wash as a genuine multi-year exploration and development portfolio rather than standalone projects.
- Supports Quantum’s strategy of building a long-term inventory of drilling opportunities while progressing commercial development of the Sagebrush helium discovery.
A Step Change in Technical Understanding
When Quantum assembled its Colorado portfolio, the Company’s understanding of the acreage was based primarily on historic drilling information, legacy seismic datasets and a limited number of recognised prospects.
Since then, Quantum has undertaken one of the most comprehensive technical programmes completed across its acreage, including acquisition of high-resolution 3D seismic, advanced seismic processing of existing data as well as detailed geological interpretation and integration of historical well and production data.
The programme has confirmed the integrity of the known helium-bearing structures at Sagebrush and Coyote Wash, refined the Company’s understanding of existing discoveries and, importantly, identified multiple additional drilling opportunities across the portfolio.
This work represents a significant step forward in the Company’s technical understanding of its Colorado acreage and provides a substantially stronger foundation for future exploration, appraisal and development activities.
Building a Long-Term Growth Portfolio
The Company’s objective has not simply been to identify individual drilling prospects, but to establish a sustainable portfolio of exploration and development opportunities capable of supporting long-term growth.
The identified opportunities have been prioritised by Quantum’s technical team following detailed geological and geophysical evaluation. Prospects were ranked according to geological confidence, seismic definition, commercial potential and operational considerations, resulting in the early identification of two lower-risk near-term drilling candidates and three higher-impact follow-on exploration candidates.
The Company believes the two lower-risk drilling candidates represent an attractive starting point for the next phase of exploration, with the potential to establish near-term production and cash flow while supporting the continued advancement of Quantum’s broader helium and oil growth strategy. Subject to permitting and operational priorities, one or both of these opportunities could be advanced to drilling within approximately the next 12 months.
Beyond these opportunities, three higher-impact follow-on exploration candidates have been identified targeting prospective helium and oil plays. These prospects have the potential to materially expand Quantum’s helium resource base while also providing significant oil upside.
Importantly, interpretation of the Company’s extensive seismic dataset remains ongoing, with additional regional exploration concepts continuing to emerge as technical evaluation progresses.
Next Steps
Quantum intends to continue refining and prioritising the opportunities generated by the seismic programme while advancing permitting, technical studies and commercial planning associated with future drilling.
The Company expects to provide further market updates as individual exploration opportunities progress through detailed evaluation and development planning.
Howard McLaughlin, Quantum Chief Executive Officer, commented: “This multi-faceted evaluation programme represents one of the most important technical milestones in Quantum’s development. Our objective wasn’t simply to acquire new seismic data – it was to fundamentally improve our understanding of the basin and identify the next generation of drilling opportunities capable of creating long-term shareholder value.
The results have exceeded our expectations. Twelve months ago we had two highly prospective projects supported by historic drilling and legacy seismic. Today we have one of the most comprehensive technical datasets assembled across this part of the basin, together with a growing portfolio of exploration opportunities extending well beyond our existing independently assessed helium resources.
We’ve already identified two lower-risk drilling candidates that we believe could be targeted within the next twelve months, subject to the normal approvals and operational planning. Beyond those, we’ve identified three much larger follow-on exploration candidates that have the potential to materially expand our helium resource base while also offering significant oil upside.
Importantly, our work isn’t finished. Every stage of interpretation continues to improve our understanding of the basin and generate new ideas. Rather than narrowing our focus, the seismic programme has continued to expand the number of opportunities we see across our acreage.
Combined with our ongoing engineering assessment of the Sagebrush helium accumulation, our substantial independently assessed helium resource base of more than 1 Bcf and our existing oil production, we believe Quantum has established the foundations for a multi-year exploration and development programme. We are only beginning to unlock the full potential of what we believe is one of the most prospective helium and oil acreage positions in Colorado.”
Enquiries:
| Quantum Helium Limited
Carl Dumbrell Chairman
|
NOMAD and Joint Broker
SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
| Brand Communications
Alan Green Tel: +44 (0) 7976 431608 |
Joint Broker
CMC Markets UK Plc Douglas Crippen +44 (0) 020 3003 8632 Joint Broker OAK Securities Jerry Keen / Robert Bell Tel: +44 (0) 203 973 3678 |
Updates on the Company’s activities are regularly posted on its website: www.quantum-helium.com
Notes to editors
Quantum (AIM: QHE) is a helium, hydrogen and hydrocarbon exploration, development, and production company with projects in the US and Australia. Quantum’s strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration. The Company has several projects in the US, in addition to royalty interests in Australia.
Quantum Helium #QHE – Corporate Update – Operational Progress & OTC Markets Application
Quantum Helium Limited (AIM: QHE) is pleased to announce further operational progress at its flagship Sagebrush Project in Colorado together with the Board’s decision to commence the application process for a secondary quotation of the Company’s ordinary shares on the OTC Markets in the United States.
The proposed secondary quotation reflects the Company’s continued transition towards commercial helium development in the United States and is expected to broaden access to North American investors while complementing Quantum Helium’s existing admission to trading on the AIM market of the London Stock Exchange.
Highlights
- Board approves application for a secondary quotation on the OTC Markets in the United States
- Secondary quotation expected to broaden access for US investors without issuing new shares or increasing the Company’s reporting obligations
- Application process expected to complete within approximately four weeks, subject to customary processing
- Sagebrush-1 continues to produce oil, helium-bearing gas and water as production optimisation progresses
- First commercial sale of Leadville oil from Sagebrush-1 anticipated this month
- Extended production programme continues to reinforce commercial oil production, helium concentrations of 2.5%, with an extensive natural fracture network supporting reservoir buildup pressures approaching virgin conditions
- Planning underway for a multi-well drilling programme targeting both helium and oil across the Company’s Colorado acreage
- Existing oil production continues to generate revenue supporting the Company’s commercial helium development strategy
Operational Update
Operations at the Sagebrush-1 well continue to progress as the Company advances reservoir optimisation and further enhances its understanding of the Leadville reservoir.
The well continues to produce oil, helium-bearing gas and water while ongoing production activities are focused on optimising long-term performance. Results to date from the extended production programme continue to reinforce management’s confidence in the reservoir
The Company expects to complete its first commercial sale of oil produced from the Sagebrush-1 Leadville Formation during the current month, marking another important milestone in the development of the Sagebrush Project.
The discovery of commercial oil during helium testing was unexpected and represents a significant additional value opportunity for the Company. Geological studies undertaken to date indicate the oil may have originated from younger formations before migrating into the naturally fractured Leadville reservoir. Oil typing studies are underway to further develop the source and migration understanding.
Importantly, both the oil and helium appear to utilise the same extensive fracture system within the Leadville formation, further strengthening management’s confidence in the long-term development potential of this field.
Reservoir optimisation continues through ongoing pressure build-up testing designed to maximise long-term production performance. Paraffin treatment of the wellbore is also being employed.
The Sagebrush-1 well continues to undergo an extended clean-up and optimisation programme following stimulation. Oil, helium-bearing gas and water continue to be produced as pressure build-up testing and the recovery of stimulation fluids progress. The ongoing optimisation programme is designed to maximise long-term production performance and further enhance the Company’s understanding of the reservoir before production data is considered representative of the reservoir’s long-term performance. The Company will provide a further operational update as the optimisation programme continues.
The extended production programme has now confirmed several significant technical outcomes, including:
- Commercial oil production from the Leadville Formation
- Helium concentrations of 2.5%, significantly above typical commercial thresholds
- Reservoir pressures approaching virgin reservoir conditions following pressure build-up testing
- A highly connected natural fracture system capable of supporting future field development
Development Strategy
As reservoir clean-up progresses and production stabilises, allowing representative sustained production rates to be established, the Company intends to re-engage independent reserves auditor Sproule ERCE to update its independently certified resource assessment to incorporate both the commercial oil discovery and the latest production data.
The Company has commenced planning for the next phase of development across its Colorado acreage. This includes evaluating follow-up drilling locations at Sagebrush together with several additional low-risk helium and oil prospects identified across the Company’s existing acreage position.
Management recently held positive discussions with the US Bureau of Land Management regarding permitting requirements and remains encouraged by the regulatory pathway for advancing future development activities.
The Company will provide further updates on its broader Colorado development strategy, including additional drilling opportunities and future development plans, as technical work and permitting activities continue to progress.
The Company’s existing oil production portfolio also continues to perform strongly, with seven of its eight producing wells currently online and generating revenue.
These revenues provide valuable cash flow while supporting the Company’s strategy of advancing its helium assets through commercial development.
OTC Markets Secondary Quotation
The Board has approved the commencement of the application process for a secondary quotation of the Company’s ordinary shares on the OTC Markets in the United States.
The proposed secondary quotation is intended to broaden the Company’s exposure to North American investors and improve trading accessibility for US-based shareholders as Quantum Helium continues to advance one of the largest independently certified helium resource portfolios of any company listed on the London Stock Exchange.
The Board believes that a secondary quotation is a natural progression for the Company given that all of Quantum Helium’s producing assets, development projects and future growth opportunities are located in the United States. The quotation is expected to complement the Company’s existing admission to trading on AIM while enhancing its visibility within one of the world’s largest natural resource investment markets.
Importantly, the secondary quotation will not involve the issue of any new shares. Existing ordinary shares already admitted to trading on AIM will become eligible to trade in US dollars through the OTC Markets, allowing investors to buy and sell the Company’s securities during US market hours.
Subject to customary processing by OTC Markets, the application is expected to complete within approximately four weeks.
The quotation is also expected to provide the Company with access to a broader range of North American investor engagement opportunities, including participation in OTC Markets investor programmes, virtual conferences, market opening ceremonies, podcasts and other capital markets initiatives designed to increase visibility within the US investment community.
The Board believes the OTC quotation will complement the Company’s AIM listing by improving access to one of the world’s largest pools of natural resource investors while supporting Quantum Helium’s continued growth as a US-focused helium and energy company.
Howard McLaughlin, Quantum Chief Executive Officer, commented: “Over recent months we have continued to build our understanding of the Sagebrush reservoir which has reinforced our confidence in the commercial potential of the project. We now have commercial oil production, helium concentrations of around 2.5%, a highly connected natural fracture system and reservoir pressures approaching virgin conditions – all of which provide an excellent foundation for the next phase of development.
Our immediate priorities are to continue reservoir optimisation and establish representative sustained production rates, complete our first sale of Leadville oil and, once production has stabilised, update our independently certified resource assessment with Sproule. At the same time, we are actively planning the next phase of drilling across our Colorado acreage as we seek to unlock the broader value of our helium and oil portfolio.
The decision to pursue a secondary quotation on the OTC Markets is another important step in the Company’s evolution. With all of our assets located in the United States, broadening our access to North American investors is a natural progression as we continue executing our strategy to build a leading US-focused helium and energy company.”
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’) which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon publication via Regulatory Information Service (‘RIS’), this information is now in the public domain.
Enquiries:
| Quantum Helium Limited
Carl Dumbrell Chairman
|
NOMAD and Joint Broker
SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
| Brand Communications
Alan Green Tel: +44 (0) 7976 431608 |
Joint Broker
CMC Markets UK Plc Douglas Crippen +44 (0) 020 3003 8632 Joint Broker OAK Securities Jerry Keen / Robert Bell Tel: +44 (0) 203 973 3678 |
Updates on the Company’s activities are regularly posted on its website: www.quantum-helium.com
Notes to editors
Quantum (AIM: QHE) is a helium, hydrogen and hydrocarbon exploration, development, and production company with projects in the US and Australia. Quantum’s strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration. The Company has several projects in the US, in addition to royalty interests in Australia
Quantum Helium #QHE – First Half Oil Production Generates Over US$316,000 Gross Revenue
Quantum Helium Limited (AIM: QHE) is pleased to provide an update on oil production and revenues from its Sagebrush Project (90% Working Interest) for the second quarter and first half of 2026.
Highlights
- Second quarter gross oil revenue of US$207,975, up approximately 92% on Q1 2026
- First half gross oil revenue of US$316,263
- Gross oil production of 5,141 barrels during H1 2026
- Average realised oil price increased from US$57.44/bbl in Q1 to US$78.29/bbl in Q2
- Additional oil sold following the successful Sagebrush-1 extended production test
- Existing oil production continues to generate cash flow while the Company advances its helium development strategy
- Sagebrush-1 testing confirmed commercial oil production together with helium-bearing gas, further enhancing the long-term value of the project
Oil Production and Revenue (Gross 100%)
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Notes
- Figures are reported on a 100% gross project basis before transport and operating costs.
- Revenue figures are reported before lease operating expenses and are not adjusted for Quantum’s working interest.
- Production and revenue figures are not adjusted for royalties, severance taxes and other applicable deductions, consistent with previous Company reporting.
- All oil sales remain unhedged.
Operational Update
Oil production from the Company’s existing Sagebrush wells continued throughout the first half of 2026, with higher commodity prices contributing to a substantial increase in revenues during the second quarter.
During the quarter, Quantum also generated additional oil sales associated with the successful extended production test at the Sagebrush-1 well. Following confirmation of commercial oil production from the Leadville Formation during testing, oil recovered as part of the programme was separated, stored and subsequently sold, providing an additional contribution to second quarter revenues.
Gross revenue increased from approximately US$108,000 in Q1 to almost US$208,000 in Q2, reflecting continued production from the Company’s existing wells, additional oil recovered during the Sagebrush-1 testing programme and significantly stronger realised oil prices.
The successful extended production test at Sagebrush-1, which remains ongoing, confirmed both commercial oil production and helium-bearing gas from the Leadville Formation. The Company believes this represents a significant enhancement to the project’s long-term value, establishing an additional productive interval that was not included in previous independent resource assessments.
Strategic Importance
Oil production continues to play an important role within Quantum’s broader strategy by:
- Providing ongoing cash flow from existing producing assets;
- Supporting funding of helium appraisal and development activities;
- Demonstrating the value of the Company’s diversified energy portfolio; and
- Complementing the Company’s primary objective of becoming a significant United States helium producer.
With independently assessed helium resources of more than 1 Bcf across the Sagebrush and Coyote Wash projects, together with existing oil production and the recently confirmed commercial oil potential at Sagebrush-1, Quantum believes it is well positioned to continue advancing its portfolio while maintaining financial discipline.
Howard McLaughlin, Chief Executive Officer of Quantum Helium, commented: “Our second quarter oil production results demonstrate the continuing value of Quantum’s producing oil assets, with stronger oil prices driving a significant increase in revenues during the period.
Importantly, the successful Sagebrush-1 extended production test also generated additional oil sales after confirming commercial oil production from the Leadville Formation. While the primary objective of the programme remains to evaluate the helium reservoir, it was particularly pleasing that the testing also produced immediate revenue alongside confirming a new productive horizon.
“The combination of existing production, additional revenues generated during testing and the recently confirmed commercial oil potential further strengthens the Sagebrush Project. Together with our independently assessed helium resources of more than 1 Bcf, these revenues continue to support our broader exploration, appraisal and development activities across our Colorado portfolio.
The Company expects to provide further updates in respect of Helium flow testing at Sagebrush in due course upon completion of the current programme”
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’) which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon publication via Regulatory Information Service (‘RIS’), this information is now considered to be in the public domain.
Enquiries:
| Quantum Helium Limited
Carl Dumbrell Chairman
|
NOMAD and Joint Broker
SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
| Brand Communications
Alan Green Tel: +44 (0) 7976 431608 |
Joint Broker
CMC Markets UK Plc Douglas Crippen +44 (0) 020 3003 8632 Joint Broker OAK Securities Jerry Keen / Robert Bell Tel: +44 (0) 203 973 3678 |
Updates on the Company’s activities are regularly posted on its website: www.quantum-helium.com
Notes to editors
Quantum (AIM: QHE) is a helium, hydrogen and hydrocarbon exploration, development, and production company with projects in the US and Australia. Quantum’s strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration. The Company has several projects in the US, in addition to royalty interests in Australia
Quantum Helium #QHE – Share Consolidation Approved and Total Voting Rights
Quantum Helium Limited (AIM: QHE) is pleased to announce that, at the Extraordinary General Meeting (“EGM”) held today, the Resolution to approve the proposed share consolidation (the “Share Consolidation”) was duly passed by shareholders.
The following proxies were received:
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The Share Consolidation will become effective on 3 July 2026 and will be implemented on the basis of one (1) new ordinary share for every one hundred (100) existing ordinary shares held.
Following the Share Consolidation, the Company’s issued share capital will reduce from 49,985,396,722 ordinary shares to 499,853,967 ordinary shares. Admission of the Consolidated Shares to trading on AIM is expected to occur at 8.00 a.m. (London time) on 3 July 2026.
Share Consolidation Timetable
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Share Identifiers Post Consolidation
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Total Voting Rights
Following Admission becoming effective at 8.00 a.m. (London time) on 3 July 2026, the Company’s issued share capital will comprise 499,853,967 ordinary shares, each carrying one voting right. The Company does not hold any ordinary shares in treasury.
Accordingly, the total number of voting rights in the Company will be 499,853,967.
The above figure may therefore be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Companies’ Articles.
Enquiries:
| Quantum Helium Limited
Carl Dumbrell Chairman
|
NOMAD and Joint Broker
SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
| Brand Communications
Alan Green Tel: +44 (0) 7976 431608 |
Joint Broker
CMC Markets UK Plc Douglas Crippen +44 (0) 020 3003 8632 Joint Broker OAK Securities Jerry Keen / Robert Bell Tel: +44 (0) 203 973 3678 |
Updates on the Company’s activities are regularly posted on its website: www.quantum-helium.com
Notes to editors
Quantum (AIM: QHE) is a helium, hydrogen and hydrocarbon exploration, development, and production company with projects in the US and Australia. Quantum’s strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration. The Company has several projects in the US, in addition to royalty interests in Australia.
Quantum Helium #QHE – Year of Transformation Ahead of EGM, Review of Key Milestones and Outlook for the Next Phase of Growth
Quantum Helium Limited (AIM: QHE) is pleased to provide shareholders with a review of the key milestones achieved over the past twelve months ahead of the Company’s Extraordinary General Meeting (“EGM”), which is scheduled to be held next week on 1 July.
The past year has seen the transformation of the Company from a diversified oil and gas business into a focused helium and energy company centred on two independently assessed helium and energy projects in Colorado – Sagebrush and Coyote Wash – representing one of the largest independently assessed helium resource positions on the London market. During this period the Company has strengthened its ownership position in key assets, secured independent resource validation, completed major seismic programmes, achieved critical regulatory milestones and successfully advanced the ongoing Extended Production Test at Sagebrush-1.
Quantum enters the next phase of its development with independently assessed helium resources, a successful Sagebrush testing programme, an emerging commercial oil opportunity and multiple near-term catalysts ahead.
Highlights
- Company successfully repositioned as a dedicated helium-focused energy company through rebranding to Quantum Helium
- Divestment of non-core assets and strategic focus on the Company’s Colorado helium and energy portfolio
- Working interest in the flagship Sagebrush Project increased to 90%, strengthening exposure to the Company’s core asset
- Independent Sproule assessments confirmed more than 1 Bcf of gross prospective helium resources across Sagebrush and Coyote Wash
- High-resolution 3D seismic programme completed, confirming a large helium-bearing Leadville structure at Sagebrush and identifying additional exploration upside
- Key regulatory approvals secured from the Bureau of Indian Affairs, enabling Quantum to assume operatorship and commence the Extended Production Test at Sagebrush-1
- Successful ongoing Extended Production Test confirms helium-bearing gas, reservoir connectivity and commercial oil production from the Leadville Formation
- Helium concentrations of 2.5% confirmed during testing, significantly exceeding typical commercial helium thresholds
- Commercial oil production identified from the Leadville Formation, creating a potential future revenue stream alongside helium development
- Existing Sagebrush oil production generated approximately US$617,000 gross revenue during 2025, with production continuing into 2026 and benefiting from strengthening oil prices
- Successfully completed a £5 million institutional capital raise, strengthening the Company’s balance sheet and supporting the next phase of development across Sagebrush and Coyote Wash
- Proposed share consolidation intended to support improved market positioning and facilitate a potential OTC listing in the United States, subject to shareholder and regulatory approvals
Carl Dumbrell, Executive Chairman of Quantum Helium, commented: “The past twelve months have been transformational for Quantum Helium. When the current Board assumed responsibility for the Company, we set out a clear objective: to create a focused helium and energy company capable of delivering meaningful long-term value for shareholders.
Since then, we have streamlined the portfolio, divested non-core assets, increased our ownership in key projects, completed independent resource assessments, secured critical regulatory approvals and successfully advanced Sagebrush through an extensive testing programme.
We are particularly grateful to the Ute Mountain Ute Tribe and the Bureau of Indian Affairs for their constructive engagement and support throughout this process. The relationships we have built over the past year have been instrumental in advancing our projects responsibly and collaboratively.
The proposed share consolidation being considered at next week’s Extraordinary General Meeting represents the next step in the Company’s evolution. We believe it will improve the Company’s market positioning, support broader institutional engagement and facilitate a potential OTC market listing in the United States. In recent months we have seen increasing interest from North American investors, reflecting both the location of our assets and growing recognition of helium as a strategically important commodity.
While much work remains ahead of us, Quantum enters the second half of 2026 in a significantly stronger position than at any point in its recent history.”
Howard McLaughlin, Chief Executive Officer of Quantum Helium, commented: “From an operational perspective, the past twelve months have been highly significant. We have progressed Sagebrush from an historic helium discovery into a successfully tested modern project supported by extensive seismic data, independent resource assessments and a much stronger technical understanding of the reservoir.
The ongoing Extended Production Test at Sagebrush has already delivered results that have exceeded our expectations. We confirmed helium-bearing gas with concentrations of approximately 2.5%, demonstrated reservoir connectivity and identified commercial oil production from the Leadville Formation.
The oil discovery was an unexpected but highly encouraging outcome. Not only does it enhance the overall value proposition of Sagebrush, but it also has the potential to provide meaningful future cash flow that can support further exploration and development activities across the portfolio.
As the testing programme continues, we intend to provide the production, pressure and fluid data to Sproule ERCE to support an updated independent assessment incorporating the newly identified oil potential, while simultaneously advancing plans for the next phase of operations, including gas analysis, development planning and evaluation of broader opportunities across both Sagebrush and Coyote Wash.
We believe we have assembled two exceptional projects within one of North America’s most prospective helium fairways and look forward to updating shareholders as we continue to advance them.”
A Year of Transformation
Over the past twelve months Quantum has undertaken a significant strategic transformation, rationalising its portfolio, divesting non-core assets and focusing capital and management attention on its Colorado helium and energy projects.
During this period the Company rebranded to Quantum Helium, increased its working interest in Sagebrush to 90%, retained 100% ownership of Coyote Wash and successfully advanced the ongoing Extended Production Test at Sagebrush-1.
Building a Leading Colorado Helium Position
During 2025 and early 2026, independent consultants Sproule ERCE completed separate resource assessments for Sagebrush and Coyote Wash.
Together, these assessments confirmed more than 1 Bcf of gross prospective helium resources across the Company’s Colorado portfolio, with the ongoing Sagebrush Extended Production Test further validating the underlying resource potential.
Together, Sagebrush and Coyote Wash represent one of the largest independently assessed helium resource positions on the London market.
Regulatory Progress and Tribal Partnership
During the past year the Company secured the regulatory approvals required to advance operations at Sagebrush, including operatorship approval from the Bureau of Indian Affairs.
Quantum worked closely with the Bureau of Indian Affairs and the Ute Mountain Ute Tribe throughout this process and would like to acknowledge their continued support and constructive engagement, which enabled the ongoing Extended Production Test at Sagebrush-1.
Sagebrush-1
The Sagebrush-1 well has long been recognised as a significant helium discovery, having previously recorded helium concentrations of 2.76% during historic testing.
The ongoing Extended Production Test has confirmed helium-bearing gas, reservoir connectivity and commercial oil production from the Leadville Formation, while generating important engineering, production and reservoir data to support future development.
Laboratory analysis has confirmed helium concentrations of 2.5%, significantly exceeding typical commercial helium concentrations and further validating the Company’s long-held interpretation of the project’s potential.
Testing has also identified commercial oil production from the Leadville Formation, a result not included within previous independent resource assessments and one which has the potential to materially enhance the economics of the Sagebrush Project.
Existing Production and Growing Oil Opportunity
Existing oil production at Sagebrush continues to provide an important source of revenue and operational cash flow.
During 2025, the field produced approximately 12,343 barrels of oil, generating gross revenue of approximately US$617,000. During the first quarter of 2026, Sagebrush produced a further 2,482 barrels, generating gross revenue of approximately US$108,000 before royalties, taxes and operating costs.
With production remaining unhedged, Quantum continues to benefit from the recent strengthening in oil prices. The commercial oil identified during the ongoing Extended Production Test was not included within previous independent resource assessments and will be incorporated into the planned Sproule resource update.
Positioning for the Next Phase of Growth
The Extraordinary General Meeting to be held next week will consider a proposed share consolidation.
The Board believes the consolidation is an important step in improving the Company’s market positioning and creating a capital structure more suitable for attracting a broader range of investors.
The Company continues to evaluate a potential OTC listing in the United States. The Board believes an OTC listing could significantly increase Quantum’s visibility within the world’s largest helium and energy investment market and provide access to a broader pool of potential investors. In recent months the Company has experienced increasing interest from North American investors, reflecting both the location of its assets in the United States and growing investor interest in the helium sector.
The proposed share consolidation is intended to better position the Company for a potential OTC quotation, while also achieving a more appropriate share price level and capital structure for a company of Quantum’s size and stage of development. Any potential OTC listing would remain subject to regulatory approvals.
Outlook
Key priorities for the remainder of 2026 include:
- Consolidate and evaluate all engineering, production and reservoir data collected during the ongoing Extended Production Test while continuing to advance field development planning
- Establish stabilised gas flow rates from the Leadville Formation as the ongoing Extended Production Test progresses
- Updating independent resource assessments to incorporate the newly identified oil potential
- Advancement of development planning at Sagebrush
- Integration of recent test and seismic results into future well planning at Sagebrush and Coyote Wash
- Progression of opportunities at Coyote Wash
- Evaluation of a potential OTC market listing
Quantum enters the next phase of its development with independently assessed helium resources, a successful Sagebrush testing programme, an emerging commercial oil opportunity and multiple near-term catalysts ahead.
Enquiries:
| Quantum Helium Limited
Carl Dumbrell Chairman
|
NOMAD and Joint Broker
SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
| Brand Communications
Alan Green Tel: +44 (0) 7976 431608 |
Joint Broker
CMC Markets UK Plc Douglas Crippen +44 (0) 020 3003 8632 Joint Broker OAK Securities Jerry Keen / Robert Bell Tel: +44 (0) 203 973 3678 |
Updates on the Company’s activities are regularly posted on its website: www.quantum-helium.com
Notes to editors
Quantum (AIM: QHE) is a helium, hydrogen and hydrocarbon exploration, development, and production company with projects in the US and Australia. Quantum’s strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration. The Company has several projects in the US, in addition to royalty interests in Australia.
Quantum Helium #QHE – Publication of OAK Securities Research Report
Quantum Helium Limited (AIM: QHE) announces that OAK Securities has published an independent research report on the Company, which is now available on the Quantum Helium website. The report highlights the scale of the Company’s Colorado helium portfolio, recent operational achievements at Sagebrush, and what OAK Securities believes is material upside to the current Quantum Helium share price.
Highlights
- OAK Securities initiates research coverage on Quantum Helium
- OAK Securities valuation analysis indicates material upside to the current Quantum Helium share price
- Quantum recognised as having one of the largest independently certified helium resource positions among London-listed helium companies, with more than 1 Bcf of independently assessed helium resources across the Sagebrush and Coyote Wash projects
- Successful Sagebrush-1 extended production test confirmed helium concentrations of 2.5%, together with reservoir connectivity and commercial oil production, further de-risking the Company’s flagship project
- Strong financial position following the Company’s £5 million institutional capital raise completed in April 2026
- Multiple near-term operational catalysts identified across the Company’s Colorado helium portfolio
- Exposure to strengthening helium market fundamentals, supported by increasing demand from semiconductor, medical imaging, aerospace and AI-related industries
The OAK Securities research report is available under the Research section of the Company’s website and can be accessed using the following link:
https://www.quantum-helium.com/investors/research/
Enquiries:
| Quantum Helium Limited
Carl Dumbrell Chairman
|
NOMAD and Joint Broker
SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
| Brand Communications
Alan Green Tel: +44 (0) 7976 431608 |
Joint Broker
CMC Markets UK Plc Douglas Crippen +44 (0) 020 3003 8632 |
Updates on the Company’s activities are regularly posted on its website: www.quantum-helium.com
Notes to editors
Quantum (AIM: QHE) is a helium, hydrogen and hydrocarbon exploration, development, and production company with projects in the US and Australia. Quantum’s strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration. The Company has several projects in the US, in addition to royalty interests in Australia.
OAK Securities – Initiates Coverage of Quantum Helium #QHE
Quantum Helium has transformed over the past 18 months to become a US based explorer with its activities focused on the Four Corners helium fairway in Colorado.
The company has now started work on these assets which we hope will prove up significant helium reserves to allow a development to commence. This could create significant shareholder value.
We derive a valuation for Quantum of 0.064p/share which is derived from a RENAV (Risked Exploration Net Asset Value). This uses a helium price US$500/mcf. As the company progresses the operations, we believe that many of the risks should start to be mitigated.
Stockbox podcast with Alan Green & Mark Fairbairn covering #QHE & #OHGR
Stockbox podcast with Alan Green & Mark Fairbairn covering
- Quantum Helium #QHE
- One Health Group #OHGR