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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 – 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.
Quantum Helium #QHE – Q1 2026 Oil Production & Corporate Update
Quantum Helium Limited (AIM: QHE) is pleased to provide an update on oil production from its Sagebrush Project in Colorado, in which it holds a 90% working interest, for the first quarter ended 31 March 2026. This announcement follows the Company’s previous production announcement in respect of 2025 oil production released on 23 March 2026
Highlights
- Q1 2026 gross oil production of 2,482 barrels (Calendar Q4 2025: 2,645 barrels)
- Gross revenue before royalties, taxes and operating costs of US$108,288 (Calendar Q4 2025: US$118,954)
- Average realised oil price of US$57.44 per barrel during Q1 2026 (Calendar Year 2025 average US$52.20)
- Oil prices remained supported during the quarter amid ongoing geopolitical tensions in the Middle East
- Existing oil production continues to support Quantum’s helium-focused development strategy at Sagebrush
- Oil production from the wider Sagebrush field continues, with Sagebrush-1 currently dedicated to the ongoing extended production test programme
- Company investigating potential secondary listing on the OTC market in the United States
Sagebrush Q1 2026 Oil Production and Revenue (Gross 100%)
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Notes:
- Figures are reported on a 100% project basis and are not adjusted for Quantum’s working interest.
- Revenue figures are before royalties, taxes and operating costs.
- All oil sales remain unhedged.
Operational Overview
Oil production from the Sagebrush Project continued throughout Q1 2026 from multiple producing wells, generating gross revenue of US$108,288 before royalties, taxes and operating costs.
The quarter benefited from a supportive oil price environment, particularly during March, as geopolitical tensions in the Middle East increased volatility across global energy markets.
Quantum believes the current oil market environment further highlights the strategic value of maintaining oil production alongside its helium exploration and development activities at Sagebrush.
The Company continues to progress the extended production test at the Sagebrush-1 well, which remains a key operational focus as Quantum advances its broader helium development strategy across the Sagebrush Project.
During the test programme, Sagebrush-1 has been taken out of normal oil production operations and dedicated to testing activities. Production from the Company’s other Sagebrush wells continues as normal. As a result, overall field production during Q2 2026 is expected to be lower than recent quarters while the extended production test at Sagebrush-1 remains ongoing.
Strategic Importance of Oil Production
Oil production at Sagebrush continues to play an important role within Quantum’s broader strategy by:
- Providing near-term revenue generation
- Supporting helium-focused exploration and development activities
- Demonstrating existing production capability across the asset base
This integrated approach allows Quantum to maintain operational momentum while advancing its helium projects and broader development activities.
Market Context
Oil markets remain highly volatile and sensitive to geopolitical developments, particularly in the Middle East. During Q1 2026, crude prices strengthened amid heightened tensions involving Iran and concerns regarding disruption to regional supply routes, including the Strait of Hormuz.
As Quantum’s oil production remains unhedged, the Company retains exposure to strengthening commodity prices.
Outlook
Quantum expects oil production from the Sagebrush field to continue alongside its helium-focused activities, with production from other Sagebrush wells continuing while the extended production test at Sagebrush-1 remains underway. The Company’s primary focus remains the successful completion of the test programme and advancing development planning across the broader Sagebrush and Coyote Wash portfolio.
Corporate Update
Further to the Company’s announcement on 3 June 2026 regarding the proposed share consolidation and Notice of Extraordinary General Meeting, the Company advises that it is currently investigating options for a potential secondary listing of its ordinary shares on the OTC market in the United States.
The Board believes that an OTC quotation could provide Quantum with increased visibility amongst North American investors and improve access to a broader pool of potential investors, particularly given that the Company’s core helium and hydrocarbon assets are located in Colorado, USA.
In recent months, the Company has received a growing level of inbound interest from U.S.-based investors, reflecting both the location of its assets within the United States and increasing investor interest in the helium sector. Recent market reports have highlighted a significant increase in helium prices following disruptions to supply from Qatar, one of the world’s largest helium producers, further reinforcing the strategic importance of securing new sources of helium production. The Board believes an OTC quotation could enhance the Company’s ability to engage with this audience and broaden its shareholder base over time.
As part of the Company’s evaluation of a potential OTC secondary listing, the Board has considered the listing requirements and market expectations applicable to certain OTC market tiers, including minimum share price requirements. These considerations formed part of the Board’s rationale for proposing the share consolidation announced on 3 June 2026.
The Board believes the proposed share consolidation will better position the Company for a potential secondary 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.
The Company notes that investigations regarding a potential OTC secondary listing remain at an early stage and no decision has yet been made to proceed. Any potential OTC secondary listing would be subject to applicable regulatory approvals and the satisfaction of relevant OTC market requirements.
Quantum will provide further updates as appropriate.
Howard McLaughlin, Chief Executive Officer of Quantum Helium, commented: “Q1 2026 delivered another solid quarter of oil production and revenue generation for Quantum, with gross revenue of c.US$108,000 before royalties, taxes and operating costs. This is an excellent result and reflects both stable field operations and the strengthening oil price environment during the quarter.
Recent geopolitical developments in the Middle East have again demonstrated how sensitive global energy markets remain to supply disruptions. With our production unhedged, Quantum remains well positioned to benefit from stronger oil prices while continuing to advance our broader helium strategy across Sagebrush and Coyote Wash.
Importantly, our existing oil production continues to support operational activities across the business and reinforces our strategy of combining helium development with hydrocarbon production. While Sagebrush-1 is currently dedicated to the ongoing extended production test programme, production from our other Sagebrush wells continues and we remain focused on maximising value from both our hydrocarbon and helium assets.”
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 – Operatorship Approved for Sagebrush. Mobilisation for Extended Production Test to Commence After Easter
Quantum Helium Limited (AIM: QHE) is pleased to announce that it has received notification that operatorship of the Sagebrush Project in Colorado has been approved by the Bureau of Indian Affairs (“BIA”).
This key milestone follows an extensive and proactive engagement process undertaken by the Company and its advisors with regulatory authorities and stakeholders. The Company’s recent visit to Colorado, including meetings with the Ute Mountain Ute Tribe and regulatory bodies, contributed positively to the progression and successful conclusion of the approvals process.
With notification of operatorship approval now received, Quantum is moving into the next operational phase at Sagebrush, with mobilisation for the extended production test at the Sagebrush-1 well expected to commence shortly after Easter.
Highlights
- Notification received of approval of operatorship for the Sagebrush Project by the BIA
- Final regulatory step completed, enabling Quantum to take operational control
- Mobilisation for extended production test at Sagebrush-1 to commence post-Easter
- Over 1 Bcf of independently assessed prospective helium resources across Sagebrush and Coyote Wash
- Strong market backdrop with increasing global focus on helium supply security
Operational Update – Sagebrush-1
The extended production test at Sagebrush-1, which is expected to run over a number of weeks, represents a key near-term operational milestone for Quantum.
The well historically encountered non-combustible gas with measured helium concentrations of approximately 2.76%, providing strong technical validation of the helium potential within the Leadville Formation. The upcoming test is designed to assess flow rates and confirm commercial deliverability.
Importantly, the extended production test is expected to support the progression of the Company’s existing helium resources into reserves, representing a significant step forward in the commercial development of the project.
Extensive planning and procurement of long-lead items have already been completed, allowing the Company to move efficiently into the testing phase following notification of operatorship approval.
The Company will update the market once testing has commenced and as operations progress
Strategic Position
Quantum has prospective helium resources of over 1 Bcf across its Sagebrush and Coyote Wash projects, providing a strong foundation for development.
The Company’s strategy of combining helium exploration with existing oil production – which generated over US$600,000 in gross revenue in 2025 – provides both technical and financial support as it advances towards helium production.
Market Context
The advancement to testing at Sagebrush comes at a time of increasing global focus on helium supply security, with recent geopolitical developments in the Middle East disrupting a significant portion of global production. Industry sources indicate that up to one-third of supply has been impacted, with suppliers already implementing allocation measures and prioritising critical sectors such as medical imaging, semiconductor manufacturing and aerospace.
Against this backdrop, the importance of secure and domestic helium supply in the United States has become increasingly apparent. Quantum’s Sagebrush and Coyote Wash projects, with over 1 Bcf of independently assessed helium resources, are well positioned within this evolving market, with the upcoming production test at Sagebrush-1 representing a key step towards potential future supply.
Outlook
With notification of operatorship approval now received, Quantum is entering a highly active operational phase, with the extended production test at Sagebrush-1 set to be the immediate focus.
The Company believes that the combination of independently verified helium resources, existing oil production providing revenue support, and near-term operational catalysts positions it strongly as it advances towards potential helium development.
Howard McLaughlin, Chief Executive Officer of Quantum Helium, said: “This is a major milestone for Quantum and reflects a significant amount of work by the team to advance Sagebrush through the regulatory framework.
We would also like to thank the Ute Mountain Ute Tribe for their continued support and engagement throughout, which has been invaluable in reaching this point, and we are grateful to our shareholders for their patience throughout what has been a detailed approval phase.
Receiving notification of operatorship approval marks a key step forward for the Company, allowing us to move into the next phase of activity, with mobilisation for the extended production test scheduled to commence shortly after the Easter break. Sagebrush-1 has already demonstrated the presence of helium, and this next stage is focused on confirming its commercial potential and advancing our resources towards reserves.
With increasing global focus on helium supply security, particularly in the United States, we believe Sagebrush is strongly positioned as we enter this important and exciting phase of operations.”
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 |
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 – Half Year Results for the Six Months to 31 December 2025
Quantum Helium Limited (AIM: QHE), announces its Half Year results for the six months to 31 December 2025.
Summary
The Company’s principal focus during the period was on advancing and de-risking its existing helium portfolio in the USA, including increasing its interest in the Sagebrush Project and delivering independent third-party validation of its resources. This resulted in (compared to same half year period in the 2025 Financial Year, “H125”):
| · | Revenue: $322,858 (HY:24 $64,542) |
| · | Gross loss: $394,493 (HY:24 $18,955) |
| · | Net loss: $1,557,571 (HY:24 $2,537,131) |
The Company’s cash and cash equivalents as at 31 December 2025 was $3,398,391.
All amounts are in Australian Dollars
Operational Review
- Continued strategic repositioning to a helium-focused US portfolio
- Company rebranded to Quantum Helium Limited, reflecting its strategic focus on helium exploration and development
- Completion of high-resolution 3D seismic acquisition at the Sagebrush Project
- Increase in working interest at Sagebrush to 90%, enhancing exposure to project upside
- Independent Sproule ERCE resource reports validates over 1 BCF of 2U gross helium prospective resources across Sagebrush and Coyote Wash
- Coyote Wash established as a material standalone helium project with 0.97 BCF 2U gross helium prospective resource
- Ongoing oil production from Sagebrush wells, with approximately 5,500 barrels gross produced between July and December 2025, generating US$259,744 gross revenue to help support helium exploration and development
- Significant progress towards Sagebrush-1 extended production test, with all long-lead items secured
- Successful capital raise of approximately £2.17 million (before expenses), strongly supported by both institutional and retail investors
- Strengthened Board and management team aligned with next phase of growth
Post-Period End
- BIA approval received for the Coyote Wash IMDA, unlocking the pathway to drilling and testing
- Formal BIA approval of the Sagebrush lease assignment, a major regulatory milestone
- All documentation for Sagebrush operatorship confirmed in good standing, with final designation expected shortly
- High-resolution 3D seismic interpretation confirms a large, well-defined structure at Sagebrush
- Company now fully prepared to commence extended production test at Sagebrush-1 upon operatorship approval
- Executive team site visit to Colorado, advancing technical alignment and stakeholder engagement
- Directors increased shareholdings, demonstrating continued confidence in the Company’s strategy and outlook
Carl Dumbrell, Executive Chairman of Quantum Helium, commented: “The six-month period to 31 December 2025 represents a transformational phase for Quantum Helium Limited. During this time, the Company repositioned its strategy, strengthened its Board and management team, and delivered a series of significant technical, operational and corporate milestones that have materially advanced our Colorado helium portfolio.
Key changes during the period included the formal the appointment of Howard McLaughlin as Chief Executive Officer in September 2025 alongside my transition to Executive Chairman and the appointment of Andrew Scott as Executive Director. These changes have strengthened both the technical and capital markets capabilities of the Company at a critical stage of its development.
Operationally, the Company made substantial progress across both Sagebrush and Coyote Wash. We completed a high-resolution 3D seismic acquisition programme at Sagebrush, increased our working interest to 90%, and received independent resource validation from Sproule ERCE across both projects. Notably, the Sproule report for Coyote Wash confirmed 2U gross helium prospective resources of 0.97 BCF, taking total independently verified helium resources across the portfolio to over 1 BCF.
In parallel, the Company progressed key regulatory milestones required to commence operations at Sagebrush, including completion of bonding requirements and continued engagement with the Bureau of Indian Affairs (“BIA”). We also successfully completed a capital raise during the period, ensuring the Company is well funded to advance its near-term objectives.
Post period end, the Company has continued to build strong momentum. The Irrevocable Letter of Credit has been approved by the BIA, 3D seismic interpretation has confirmed a large structure at Sagebrush we believe is helium-bearing, and approval of the Coyote Wash IMDA has been secured. Importantly, the Company has also received formal BIA approval for the assignment of the Sagebrush lease, representing a major regulatory milestone and clearing the way for the final step of operatorship designation.
The Company is now fully prepared to commence the extended production test at Sagebrush-1, with all long-lead items secured. Upon confirmation of operatorship, which is expected in the near term, the Company intends to move immediately into testing operations.
On behalf of the Board, I would like to thank our shareholders for their continued patience and support as we have worked through what has been a detailed but necessary regulatory process. We believe the Company is now exceptionally well positioned, and we expect the remainder of 2026 to be a significant and highly active period for Quantum as we move into testing, development and further value creation”.
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 |
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
Link here for full financial statements
Quantum Helium #QHE – Strong 2025 Oil Production at Sagebrush Generates US$617k Revenue
Quantum Helium Limited (AIM: QHE) is pleased to report steady oil production and revenue generation from its Sagebrush Project for the 2025 calendar year in which it holds a 90% working interest.
Highlights
- Total gross oil production of 11,769 barrels in 2025
- Production delivered consistently across the year from multiple Sagebrush wells
- Gross oil sales revenue in 2025 of US$617,044 at an average oil price of US$52.20
- Quantum net sales revenue in 2025 of approximately US$409,000 (after royalties but before lease operating costs)
- Ongoing oil sales generating revenue to support helium exploration and development
- Oil production forms a key component of Quantum’s self-funding development strategy with the Company retaining oil prospectivity across its asset base
Sagebrush Oil Production and Revenue – 2025 (Gross 100%)
| Calendar Quarter | Production (bbls) | Revenue (US$) |
| Q1 2025 | 3,026
|
189,461
|
| Q2 2025 | 3,244
|
167,839
|
| Q3 2025 | 2,854
|
140,790
|
| Q4 2025 | 2,645
|
118,954
|
| Total 2025 | 11,769
|
617,044
|
Notes:
- Figures are reported on a 100% project basis and are not adjusted for Quantum’s working interest.
- Production represents gross oil volumes after 16.67% land royalties and certain deductions.
- Gross and net sales revenue figures are derived from reported annual sales revenues.
- All oil sales are unhedged.
- Average oil price of US$52.20 for 2025
- Quantum’s annual financial year end is 30 June.
Operational Overview
The Sagebrush Project continues to deliver steady oil production from multiple wells, providing an important revenue stream alongside the Company’s helium development activities.
During 2025, the project produced 11,769 barrels of oil gross, and generated sales revenue of US$617,044 gross,with Quantum’s net sales revenue after royalties but before lease operating costs of approximately US$409,000. Production was delivered consistently throughout the year with regular sales, supporting Quantum’s strategy of leveraging hydrocarbon revenues to help fund and de-risk its helium exploration and appraisal programmes.
Production has continued into 2026 in line with expectations, with January and February delivering stable output from the Sagebrush wells. The Company intends to provide a further update on production for the quarter ending 31 March 2026 at the Company’s annual financial year end.
The Company continues to optimise hydrocarbon/oil production across the Sagebrush field while progressing towards the extended production test at the Sagebrush-1 well, which remains the primary near-term operational focus.
The recently completed 3D seismic survey at Sagebrush has significantly improved subsurface understanding and identified additional structural features prospective for hydrocarbons. These targets represent potential future drilling opportunities which could support further growth in oil production over time, complementing the Company’s helium-focused development strategy.
Strategic Importance of Oil Production
Oil production at Sagebrush plays a dual role within Quantum’s broader strategy:
- Provides near-term revenue generation
- Supports funding of helium-focused operations and development
- Demonstrates existing production capability within the asset base
This integrated approach allows Quantum to advance its helium portfolio while maintaining financial discipline and operational momentum. This revenue contribution, combined with strengthened oil prices, further enhances the financial resilience of the Company as it progresses towards helium production.
Market Context
The Company notes the recent strengthening in global oil prices amid ongoing geopolitical developments in the Middle East. Whilst commodity prices are subject to volatility, the current pricing environment is supportive of increased revenues from the Company’s existing oil production which remains unhedged.
Outlook
Quantum expects oil production at Sagebrush to continue alongside its helium-focused activities, with the Company now positioned to enter a highly active period with the planned extended production test at Sagebrush-1.
Howard McLaughlin, Chief Executive Officer of Quantum Helium, commented: “Our 2025 oil production from Sagebrush highlights an important and often underappreciated part of the Quantum story. While our primary focus is on unlocking the significant helium potential across our portfolio, the existing oil production provides us with a valuable source of revenue that helps to support our ongoing operations and helps fund our development activities.
Production has continued in line with expectations into 2026, and with oil prices strengthening in response to global geopolitical developments, this part of the business becomes increasingly valuable. It reinforces our strategy of combining helium exploration with hydrocarbon production to create a more resilient and self-sustaining business model as we move towards the extended production test at Sagebrush-1 and the next phase of growth.”
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 |
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 – Extended Production Test at Sagebrush-1 to commence as soon as operatorship is finalised
Quantum Helium Limited (AIM: QHE) is pleased to announce that the U.S. Bureau of Indian Affairs (“BIA”) has formally approved the assignment of the Sagebrush lease to Quantum, where the Company holds a 90% working interest.
This approval represents a major regulatory milestone for the Company and clears the way for key next steps being the appointment of Quantum as operator and the subsequent planned extended production test of the Sagebrush-1 well, which Quantum intends to commence as soon as possible.
All long-lead items required for the production test have already been secured, allowing the Company to move rapidly into operations.
The approval follows shortly after the recent BIA approval of the Coyote Wash Indian Mineral Development Agreement, further strengthening Quantum’s regulatory and operational position across its Colorado helium portfolio.
Highlights
- BIA approval received for the assignment of the Seeley lease to Quantum Helium for the Sagebrush Project
- Production test scheduled to begin shortly following confirmation of Quantum’s operatorship with all long-lead equipment already secured
- Historic drill stem test confirmed helium concentration of 2.76% from the Leadville Formation at Sagebrush-1 well
- Independent Sproule ERCE evaluation confirms 2U gross helium prospective resources of 134 MMscf at Sagebrush
- Combined Colorado portfolio now hosts more than 1 BCF of independently verified gross helium resources across Sagebrush and Coyote Wash
- Approval follows recent BIA approval of the Coyote Wash IMDA, further strengthening Quantum’s operational position in the Four Corners helium fairway
- Extended production test represents the next step towards potential commercial development of the Sagebrush helium discovery
Sagebrush Extended Production Test
The extended production test will initially focus on the Leadville Formation, a carbonate reservoir which has emerged as a significant helium target across the Four Corners region.
The Sagebrush-1 well was originally drilled to a depth of approximately 7,467 feet, targeting both the Ismay Formation oil reservoir and the deeper Leadville Formation carbonates. During historical drill stem testing of the Leadville interval, the well flowed non-combustible gas which laboratory analysis confirmed contained 2.76% helium, alongside methane and heavier hydrocarbons.
Wireline logs identified approximately 94 feet of net gas pay, and the test concluded with the well continuing to build pressure, suggesting the potential for stronger sustained flow rates using modern completion and stimulation techniques.
The well was subsequently cased and remains available for re-entry, providing the Company with a significant time and cost advantage as it advances testing.
The planned extended production test will include acid stimulation of the Leadville reservoir and sustained flow testing designed to measure productivity, reservoir characteristics and gas composition under modern operational conditions.
Data obtained from the test will be used to refine reservoir modelling and support the potential transition of resources toward reserves and future development planning.
Independent Resource Validation
An independent resource evaluation by Sproule ERCE confirmed Sagebrush as a technically credible helium project with 2U gross prospective helium resources of 134 MMscf, with upside potential of 269 MMscf in the 3U case.
This independently verified helium resource forms part of Quantum’s wider Colorado portfolio which now totals more than 1 BCF of 2U gross helium resources across Sagebrush and Coyote Wash.
The recently completed high-resolution 3D seismic survey has also confirmed the presence and geometry of the large helium-bearing Leadville structure at Sagebrush, materially de-risking the planned production test.
Strategic Importance
The approval of the Sagebrush assignment allows Quantum to move to the final step of becoming the operator of record. After completing the formality of obtaining operatorship we can commence the Sagebrush-1 extended production test.
The Company believes Sagebrush represents a flagship development opportunity within the Four Corners helium fairway, supported by:
- a drilled and cased discovery well
- independently validated helium resources
- newly acquired 3D seismic confirming the structural trap
- established infrastructure in the region
The Company’s immediate operational focus is now on executing the extended production test and evaluating the results as part of its broader development strategy across both Sagebrush and Coyote Wash.
Howard McLaughlin, Chief Executive Officer of Quantum Helium, commented: “Receiving BIA approval for the assignment of the lease we bought from Seeley Oil Company is a major milestone for the Company and allows us to move immediately following operatorship into the next operational phase.
Sagebrush-1 has already demonstrated the presence of helium in the Leadville Formation, with historic testing confirming a concentration of 2.76%. The well encountered approximately 94 feet of gas pay and concluded testing while still building pressure, which is highly encouraging from a reservoir perspective.
The upcoming extended production test will allow us to apply modern completion techniques, including acid stimulation, to properly evaluate the productivity of the Leadville reservoir. The data generated will be critical in confirming flow rates, reservoir performance and the broader commercial potential of the Sagebrush helium accumulation.
With 3D seismic confirming the size and geometry of the Leadville structure, we believe the project is now well positioned to demonstrate its value through this production test.”
Carl Dumbrell, Executive Chairman of Quantum Helium, added: “This approval represents an extremely important step for Quantum and reflects the constructive engagement we have had with both the Bureau of Indian Affairs and the Ute Mountain Ute Tribe.
Last week the executive team travelled to Colorado where we had the opportunity to meet with Tribal representatives and discuss the Sagebrush project in person. We are very grateful for the time they gave us and sincerely appreciate the ongoing support and cooperation shown towards Quantum.
Building respectful and long-term relationships with our partners and local stakeholders is fundamental to how we operate.
With the assignment now formally approved and all long-lead items already secured, we look forward to becoming operator and commencing the extended production test at Sagebrush-1 and working closely with the Tribe as the project progresses.”
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 |
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 – Initial 3D Seismic Review Confirms Large Potential Leadville Helium Structure At Sagebrush
Quantum Helium Limited (AIM: QHE) is pleased to provide an update on the interpretation of the recently acquired high-resolution 3D seismic survey at its Sagebrush Helium Project in Colorado.
Highlights
- Initial processing of the Sagebrush high-resolution 3D seismic survey completed
- Historic Sagebrush-1 well confirmed as a dual oil and helium well, with the Ismay Formation producing over 300,000 barrels of oil and a deeper Drill Stem Test in the Leadville Formation flowing non-flammable gas containing 2.76% helium
- Initial interpretations suggest large potential helium-bearing Leadville structure consistent with historic well data and prior independent evaluation
- 3D seismic confirms the structural interpretation previously mapped from reprocessed 2D seismic
- Early identification of new potential oil and helium targets at Sagebrush and Coyote Wash
- Results materially de-risk the planned extended production test at Sagebrush-1
Sagebrush – 3D Seismic Update (See Figure 1)
Initial processing of the Sagebrush 3D seismic dataset has now been completed, with interpretation work progressing across both helium and oil targets.
The Sagebrush-1 well, drilled in 1994, intersected the Leadville Formation and recovered non-combustible gas during drill stem testing, with subsequent gas analysis confirming a helium concentration of 2.76%. Initial interpretations suggest this well data established the presence of a potential helium-bearing accumulation within the Leadville Formation and forms the foundation of the Company’s helium strategy at Sagebrush.
In 2024, the Company reprocessed existing 2D seismic data across the Sagebrush area, which allowed the Leadville structure hosting the Sagebrush-1 discovery to be mapped and its size and geometry better defined. This work was subsequently reviewed and confirmed by Sproule ERCE as part of the independent Sagebrush resource evaluation.
The newly acquired 3D seismic survey has now confirmed the Leadville structure previously mapped from the reprocessed 2D seismic, while providing significantly improved resolution, continuity and structural confidence. This confirmation of the existing interpretation was a core strategic objective of the 3D seismic programme.
Overall seismic data quality is excellent. Once final depth conversion is completed in the coming weeks, detailed prospect mapping will commence across the survey area.
A second key objective of the 3D seismic programme was to identify additional oil prospectivity. At the Ismay Formation level, where the Company has existing oil production, early interpretation has identified encouraging seismic amplitude responses that conform closely with the original Sagebrush Ismay oil discovery. Similar amplitude features are present nearby and may represent previously undrilled algal mound features, which are now being evaluated as potential new oil drilling targets through ongoing calibration with existing well, log and core data.
Figure 1: Preliminary Sagebrush Area Amplitudes at Ismay Level
Coyote Wash – Early Observations (See Figure 2)
Within the Company’s southern Coyote Wash acreage, preliminary seismic interpretation continues to support the view that the historic Mariano Wash 1-1 well was drilled near the edge of a larger structural feature. Seismic amplitudes indicate that the crest of the structure – typically the most prospective part of the trap – may not have been tested. These observations are based on early-stage interpretation and remain subject to further detailed analysis, calibration and integration with additional subsurface data. While this work is ongoing, the current dataset supports the potential for materially improved results from a future well drilled on the interpreted structural high.
Coyote Wash is at a more advanced stage of interpretation overall, with the Company having previously disclosed six drill-ready Leadville helium prospects, together with additional Ismay oil targets, all of which will be further refined as interpretation and confirmatory work progresses.
Figure 2: Mariano Wash Amplitude on New 3D and Prior to New 3D
Howard McLaughlin, Chief Executive of Quantum Helium, commented: “The Sagebrush-1 well established the presence of helium in the Leadville Formation more than three decades ago, with drill stem testing recovering non-combustible gas and subsequent analysis confirming a helium concentration of 2.76%. That well data, combined with reprocessed 2D seismic and independent validation by Sproule ERCE, gave us a strong technical foundation.
One of the primary objectives of the 3D seismic programme was to confirm that interpretation, and the new data has done exactly that – clearly validating the size, geometry and continuity of the Leadville structure we had previously mapped. The quality of the data is excellent and materially strengthens our confidence as we move towards testing the Leadville in Sagebrush-1.
The second objective of the survey was to identify new oil prospectivity, and we are encouraged by early indications at the Ismay level, where seismic amplitudes mirror the original Sagebrush oil discovery and suggest the presence of additional undrilled algal mound features. Together, these preliminary results significantly de-risk the next phase of activity and reinforce the broader development and growth potential across both Sagebrush and Coyote Wash.
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 |
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