Quantum Helium (QHE ) has released its annual report and accounts for the year ended 30 June 2026. 

During the period the company generated revenue of A$725,000, up from A$504,000 the previous year, as a result of oil production at the Sagebrush project in Colorado and the positive pricing environment.

Overall losses were reduced to A$3.423 million from A$10.3 million in 2025.

Cash at year-end was A$10.5 million, while cash as at 9 September 2026 was A$8.48 million.

The company made significant progress during the year. The Sagebrush working interest was increased from 82.5% to 90%, with Quantum receiving approval to assume operatorship in April 2026.

In addition, the Sagebrush-1 extended production test confirmed the presence of helium-bearing gas at approximately 2.5%, as well as strong reservoir connectivity and pressure recovery, and identified commercial oil within the Leadville Formation, with more than 80 barrels recovered during testing by mid-June 2026.

Meanwhile, independent assessments established combined 2U gross helium resources of 1.104 billion cubic feet across the Sagebrush and Coyote Wash projects, comprising 0.134 bcf at Sagebrush and 0.97 bcf at Coyote Wash.

"FY26 was a defining year for Quantum,” said Carl Dumbrell, executive chairman of Quantum Helium. 

“We entered the period as Mosman Oil and Gas and ended it as Quantum Helium, with a more focused portfolio, a substantially stronger financial position and a clearer pathway towards development. During the year we increased our interest in Sagebrush to 90%, assumed operatorship, confirmed helium at approximately 2.5%, identified commercial oil within the Leadville Formation and established combined 2U gross helium resources of 1.104 bcf across Sagebrush and Coyote Wash. Our focus is now on execution: progressing the Sagebrush engineering and reservoir optimisation programme, followed by the recommended larger stimulation and testing programme, while continuing to advance Coyote Wash."

 

View from Vox

 

It was a transformative year for Quantum, what with a name change, the advancement of its helium assets and the increases in revenue and cash flow. The company now looks well positioned to move towards production of helium in Colorado, with various work programmes in train.