Year of Transformation Ahead of Extraordinary General Meeting
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:
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Quantum Helium Limited Carl Dumbrell Chairman |
