Q1 2026 Oil Production & Corporate Update

Quantum Helium Limited

04 June 2026

 

04 June 2026

Quantum Helium Limited

("Quantum" or the "Company")

Q1 2026 Oil Production

&

Corporate Update

Quantum Helium Limited (AIM: QHE) is pleased to provide an update on oil production from its Sagebrush Project in Colorado, in which it holds a 90% working interest, for the first quarter ended 31 March 2026. This announcement follows the Company's previous production announcement in respect of 2025 oil production released on 23 March 2026

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

Sagebrush Q1 2026 Oil Production and Revenue (Gross 100%)

Calendar Quarter Production (bbls) Revenue (US$) Average Oil Price (US$/bbl) Q1 2026 2,482.17 108,288.16 57.44

Notes:

1.  Figures are reported on a 100% project basis and are not adjusted for Quantum's working interest.

2.  Revenue figures are before royalties, taxes and operating costs.

3.  All oil sales remain unhedged.

Operational Overview

Oil production from the Sagebrush Project continued throughout Q1 2026 from multiple producing wells, generating gross revenue of US$108,288 before royalties, taxes and operating costs.

The quarter benefited from a supportive oil price environment, particularly during March, as geopolitical tensions in the Middle East increased volatility across global energy markets.

Quantum believes the current oil market environment further highlights the strategic value of maintaining oil production alongside its helium exploration and development activities at Sagebrush.

The Company continues to progress the extended production test at the Sagebrush-1 well, which remains a key operational focus as Quantum advances its broader helium development strategy across the Sagebrush Project.

During the test programme, Sagebrush-1 has been taken out of normal oil production operations and dedicated to testing activities. Production from the Company's other Sagebrush wells continues as normal. As a result, overall field production during Q2 2026 is expected to be lower than recent quarters while the extended production test at Sagebrush-1 remains ongoing.

Strategic Importance of Oil Production

Oil production at Sagebrush continues to play an important role within Quantum's broader strategy by:

• Providing near-term revenue generation

• Supporting helium-focused exploration and development activities

• Demonstrating existing production capability across the asset base

This integrated approach allows Quantum to maintain operational momentum while advancing its helium projects and broader development activities.

Market Context

Oil markets remain highly volatile and sensitive to geopolitical developments, particularly in the Middle East. During Q1 2026, crude prices strengthened amid heightened tensions involving Iran and concerns regarding disruption to regional supply routes, including the Strait of Hormuz.

As Quantum's oil production remains unhedged, the Company retains exposure to strengthening commodity prices.

Outlook

Quantum expects oil production from the Sagebrush field to continue alongside its helium-focused activities, with production from other Sagebrush wells continuing while the extended production test at Sagebrush-1 remains underway. The Company's primary focus remains the successful completion of the test programme and advancing development planning across the broader Sagebrush and Coyote Wash portfolio.

Corporate Update

Further to the Company's announcement on 3 June 2026 regarding the proposed share consolidation and Notice of Extraordinary General Meeting, the Company advises that it is currently investigating options for a potential secondary listing of its ordinary shares on the OTC market in the United States.

The Board believes that an OTC quotation could provide Quantum with increased visibility amongst North American investors and improve access to a broader pool of potential investors, particularly given that the Company's core helium and hydrocarbon assets are located in Colorado, USA.

In recent months, the Company has received a growing level of inbound interest from U.S.-based investors, reflecting both the location of its assets within the United States and increasing investor interest in the helium sector. Recent market reports have highlighted a significant increase in helium prices following disruptions to supply from Qatar, one of the world's largest helium producers, further reinforcing the strategic importance of securing new sources of helium production. The Board believes an OTC quotation could enhance the Company's ability to engage with this audience and broaden its shareholder base over time.

As part of the Company's evaluation of a potential OTC secondary listing, the Board has considered the listing requirements and market expectations applicable to certain OTC market tiers, including minimum share price requirements. These considerations formed part of the Board's rationale for proposing the share consolidation announced on 3 June 2026.

The Board believes the proposed share consolidation will better position the Company for a potential secondary 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.

The Company notes that investigations regarding a potential OTC secondary listing remain at an early stage and no decision has yet been made to proceed. Any potential OTC secondary listing would be subject to applicable regulatory approvals and the satisfaction of relevant OTC market requirements.

Quantum will provide further updates as appropriate.

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."

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon publication via Regulatory Information Service ('RIS'), this information is now in the public domain.

Enquiries:

Quantum Helium Limited Carl Dumbrell Chairman	NOMAD and Joint Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl [phone]
Brand Communications Alan Green Tel: [phone]	Joint Broker CMC Markets UK Plc Douglas Crippen [phone] Joint Broker OAK Securities Jerry Keen / Robert Bell Tel: [phone]

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. 

 

END