REG - Quantum Helium Ltd - Sagebrush-1 Testing Progress and Leadville Plan

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RNS Number : 7343A  Quantum Helium Limited  16 April 2026

 

 

16 April 2026

 

Quantum Helium Limited

("Quantum" or the "Company")

 

 

Operational Update
Sagebrush-1 Testing Progresses; Key Leadville Perforation Next Week

Quantum Helium Limited ("Quantum" or the "Company") is pleased to provide an
operational update on the extended production test at the Sagebrush-1 well,
Colorado.

Highlights

·      Extended production test program progressing well, with
operations advancing in line with plan

·      Lower Leadville perforation scheduled for next week, targeting
the primary helium-bearing interval

·      Key well preparation milestones are progressing, including
cementing, casing integrity testing and drill-out operations

·      Testing programme designed to test flow rates and confirm
historical helium concentrations of 2.76%

·      Critical step towards converting prospective helium resources
into reserves and commercial development

Operational Update

Operations at Sagebrush-1 continue to progress well, with the extended
production test now actively underway.

Over the past week, the Company has successfully completed key preparatory and
completion activities, currently completing cementing operations across the
currently producing Ismay zone, pressure testing of casing, and drill-out of
cement and bridge plug. These works are essential to ensure well integrity and
optimise conditions ahead of flowing the primary target interval.

The next phase of operations will focus on the perforation and testing of the
Lower Leadville Formation, the principal helium-bearing reservoir at
Sagebrush, with perforation operations scheduled to start over the coming week
as the programme moves into its key testing phase.

The Leadville test is designed to evaluate flow characteristics and confirm
helium concentrations, building on historic testing at the Sagebrush-1 well,
which recorded helium concentrations of 2.76%.

The Company will continue to provide updates as operations progress through
this critical phase of testing.

Project Progress to Date

Quantum has delivered a series of significant milestones to reach this stage
of operations, including:

·      Acquisition and consolidation of the Sagebrush Project

·      Approval of key agreements with the Ute Mountain Ute Tribe

·      Securing and funding of the Irrevocable Letter of Credit for
bonding purposes

·      Approval of lease assignments and operatorship by the BIA and
relevant regulators

·      Completion of 3D seismic across the project area, identifying a
large, well-defined structure

·      Final regulatory approvals enabling commencement of field
operations

These achievements position the Company strongly as it moves into the most
critical stage of the extended production test.

Strategic Context

The extended production test at Sagebrush-1 represents a key step in Quantum's
strategy to unlock the value of its helium portfolio.

The Company holds over 1 Bcf of 2U prospective recoverable helium resources
across Sagebrush and Coyote Wash, representing one of the largest
independently assessed helium portfolios among London-listed companies.

The current testing programme is focused on advancing Sagebrush from a
resource-stage asset towards reserves, development and ultimately commercial
production, while further growth potential exists across multiple drill-ready
prospects at Coyote Wash.

This strategy is supported, in part, by Quantum's existing oil production at
Sagebrush, which has continued to generate revenue and contribute towards
funding helium-focused operations.

Quantum Chief Executive, Howard McLaughlin, commented: "We are very pleased with the progress being made at Sagebrush-1, with operations advancing smoothly through the initial phases of the extended production test program.

What sets Quantum apart from many of our peers is that we are not searching
for helium - we already have a significant, independently assessed helium
resource base. Our focus now is on confirming the historical helium
concentration of 2.76% recorded at Sagebrush-1, and moving the resource into
reserves, through appraisal and ultimately commercial development.

The upcoming perforation of the Lower Leadville Formation is a major milestone
for the Company and marks the transition into the key testing phase. This is
the interval we believe holds the greatest potential, and we are excited to
now be entering this stage of operations.

Importantly, Sagebrush is just one part of a much larger growth story. With a
substantial prospective helium resource base and multiple drill-ready targets
at Coyote Wash, we believe Quantum is uniquely positioned in the London market
as we move into the next stage of value creation.

We look forward to keeping shareholders updated as the flow testing program
and results become available in due course."

 

Enquiries:

 Quantum Helium Limited     NOMAD and Joint Broker

 Carl Dumbrell              SP Angel Corporate Finance LLP

 Chairman                   Stuart Gledhill / Richard Hail / Adam Cowl

                            +44 (0) 20 3470 0470
 Brand Communications       Joint Broker

 Alan Green                 CMC Markets UK Plc

 Tel: +44 (0) 7976 431608   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.

 

 

 

 

 

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