Quantum Helium (QHE ) has outlined a comprehensive summary of its achievements over the past 12 months, including a review of key milestones achieved, ahead of the company's Extraordinary General Meeting, 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.
Over the past year Quantum 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.
The company divested non-core assets, increased to 90% its working interest in the flagship Sagebrush project increased to 90%, and secured an independent assessment by Sproule that confirmed more than one billion cubic feet of gross prospective helium resources across Sagebrush and Coyote Wash.
The company also completed a high-resolution 3D seismic programme, confirming a large helium-bearing Leadville structure at Sagebrush and identifying additional exploration upside.
Key regulatory approvals were secured from the Bureau of Indian Affairs, enabling Quantum to assume operatorship and commence the extended production test at Sagebrush-1.
Meanwhile, existing Sagebrush oil production generated approximately US$617,000 gross revenue during 2025, with production continuing into 2026 and benefiting from strengthening oil prices.
The balance sheet looks robust, too, after Quantum raised £5 million some weeks back.
The current proposed share consolidation is intended to support improved market positioning and facilitate a potential OTC listing in the United States, subject to shareholder and regulatory approvals
"The past twelve months have been transformational for Quantum Helium,” said Carl Dumbrell, Quantum’s chairman.
“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.”
View from Vox
It’s been fascinating to watch the rapid transformation of Quantum, from a slightly moribund oil and gas company into a fast-moving and dynamic helium company. The pace of work has been rapid, and significant progress has been achieved both at Coyote Wash and at Sagebrush, all against the backdrop of a strong helium market. The key now will be the full results of the extended well testing programme. So far, so good, so there’s grounds for cautious optimism. Will Quantum be entering the ranks of the helium producers before too long? You wouldn’t bet against it.