Quantum Helium Limited (AIM: QHE) generated revenue from oil production during the first quarter of 2026 while continuing to advance its flagship Sagebrush helium project in Colorado.
The company reported gross oil production of 2,482 barrels for the three months ended 31 March 2026, generating revenue of US$108,288 before royalties, taxes and operating expenses. The average realised oil price during the period was US$57.44 per barrel.
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
While modest in scale, the oil production provides valuable cash flow support as Quantum progresses development activities at Sagebrush, where the company holds a 90% working interest and is targeting commercial helium production.
Management has consistently highlighted the strategic importance of helium as global demand continues to rise across sectors including semiconductors, medical imaging, aerospace and advanced manufacturing, while supply remains constrained.
The Sagebrush Project forms the cornerstone of Quantum’s growth strategy, with existing hydrocarbon production helping offset a portion of project-related costs while the company works towards unlocking the value of its helium resources.
In a move aimed at broadening its investor base, Quantum also confirmed it is investigating a potential secondary listing on the US OTC market. Management believes a US quotation could enhance market visibility, improve liquidity and provide greater access to North American investors, where interest in helium-focused companies continues to grow.
The update comes as helium markets remain supported by ongoing global supply challenges and increasing strategic interest in domestic sources of the gas, particularly across North America.
With production providing cash flow and helium development continuing at Sagebrush, Quantum remains focused on positioning itself as an emerging participant in the growing helium sector.
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.”
