Final results for the year ended 31 March 2026
Notice of AGM
Mendell Helium (LON: MDH) is pleased to provide the Company’s audited results for the year ended 31 March 2026.
Highlights in the Chairman’s and CEO’s statements include:
· Confirmation of plans for further development of the Fort Dodge region in Kansas, USA – targeting a further four producing wells
· Rost 2-26 de-watering, Schneweis Ventures 13A producing and locations identified for new wells
· 11.5% helium composition reported at Rost 2-26
· Expectation of continued robust pricing for helium
· Alongside the higher impact Fort Dodge wells, Hugoton operations with five production wells provide a complementary low maintenance and long term production base to our operations
· Loss for the year before taxation of £1,314,000
· Move to AIM completed following the year end
The Company’s annual report and accounts for the year ended 31 March 2026 and notice of annual general meeting (“AGM”) have been sent to Mendell Helium’s shareholders. The AGM will be held at 10.30 am on Thursday 4 November 2026 at Edinburgh Printmakers, Castle Mills, 1 Dundee Street, Edinburgh, EH3 9FP.
Copies of the annual report and accounts and notice of AGM are available on the Company’s website: https://www.mendellhelium.com
Nick Tulloch, Chief Executive Officer of Mendell Helium, said: “We are pleased to publish our annual report for the year ended 31 March 2026, a year which provided the platform for the next phase of our development of a helium production operation in Kansas.
“Rost 1-26 and Rost 2-26 will be the hub of these plans. With recorded helium concentrations of 5.1% and 11.5% respectively, we have the potential for very significant production. We know from our experience with Rost 1-26 that increasing gas flows follow sustained removal of water and Rost 2-26 is following the same pattern, albeit with a far higher helium composition. As production develops, we will continue to work on our surface operations to enable purification of greater gas volumes. As previously announced, there may be merit in fracking Rost 2-26. This operation – if we proceed – is within our budget and could be completed in a matter of weeks.
“Our joint venture with Ritchie Exploration Inc. could not have got off to a better start with strong production from Schneweis Ventures 13A with gas and water flowing from reservoir pressure. To say this is a positive sign would be an understatement. This is a well that has considerable promise and, with access to a pipeline, production is not constrained by surface purification.
“We are finalising plans for new wells in Fort Dodge and we expect to update investors over the coming weeks on our progress.”
Investor takeaway: Mendell Helium is preparing to expand its Fort Dodge operations in Kansas with four additional producing wells, while Rost 2-26 continues de-watering after reporting helium concentrations of 11.5%. The key operational question remains whether those high concentrations can be converted into sustained commercial gas volumes.
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
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Mendell Helium plc Nick Tulloch, CEO
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