Sproule: Coyote Wash is a major Helium Resource

Quantum Helium Limited

19 December 2025

 

19 December 2025

Quantum Helium Limited

("Quantum" or the "Company")

Sproule ERCE Confirms Major Helium Resource at Coyote Wash

 

Over 1 BCF of Independently Verified Gross Helium Resources Across Colorado Projects

Establishes Quantum Helium Among the Largest Independently Certified Helium Companies on the LSE by resource size

Quantum Helium Limited (AIM: QHE), advancing helium, hydrogen and hydrocarbon projects in the USA, is pleased to announce receipt of the independent resource report from Sproule ERCE for the Coyote Wash Project in Colorado, where Quantum holds a 100% working interest.

The report estimates 2U (Best Estimate) gross recoverable helium of 0.97 BCF at Coyote Wash, which, when combined with the Sproule ERCE-verified 2U gross helium resource of 0.134 BCF at Sagebrush, establishes 1.104 BCF of independently verified 2U gross helium across the Company's Colorado portfolio.

This represents Quantum's second independently evaluated helium resource, reinforcing the continued growth and maturing technical confidence in the Company's strategy.

Sproule ERCE has also completed its assessment of the oil potential at Coyote Wash, confirming 1U / 2U / 3U recoverable oil estimates of 150 / 420 / 750 thousand barrels across a single mapped Ismay prospect.

Highlights

·      Sproule ERCE estimates 2U gross recoverable helium of 0.97 BCF at Coyote Wash

·      Combined with Sagebrush, Quantum now has 1.104 BCF gross (828 MMscf Net) 2U helium, all independently evaluated. 

·      Potential gross value of ~ US$331 million ($300/Mscf)

·      Establishes Quantum as having one of the largest independently verified helium portfolios among London-listed helium companies

·      Sproule ERCE also identifies up to 750,000 barrels of potentially recoverable oil at an Ismay prospect with three potential well locations.

·      3D seismic acquisition at Sagebrush complete, with results of processing and interpretation expected in the new year to provide additional drillable oil and helium prospects

·      Positive engagement with the Bureau of Indian Affairs (BIA) as the Company progresses towards approval for the extended flow test at Sagebrush-1

Sproule ERCE Resource Summary - Coyote Wash (Leadville Formation)

Coyote Wash - Total Gross Raw Gas Resource Volume Leadville Prospects (MMscf)

Estimate	Total Raw Gas (MMscf)	Hydrocarbon Gas (MMscf)	Helium Gas (MMscf)	CO₂ Gas (MMscf)
1U	15,695	3,567	432	6,271
2U	35,182	7,998	970	14,055
3U	60,928	13,850	1,682	24,342

(Source: Sproule ERCE)

Ismay Formation - Gross Prospective Oil & Gas Resource Volumes

Prospect	1U Oil (Mstb)	2U Oil (Mstb)	3U Oil (Mstb)	1U Gas (MMscf)	2U Gas (MMscf)	3U Gas (MMscf)
Mariano Wash Prospect - single well	50	140	250	180	286	498
Mariano Wash Prospect - 3 well total	150	420	750	540	858	1,494

(Source: Sproule ERCE)

Coyote Wash - Total Net Raw Gas Resource Volume Leadville Prospects (MMscf)
(14% royalty which increases to 19% from Production Year 11 onwards)

Estimate	Total Raw Gas (MMscf)	Hydrocarbon Gas (MMscf)	Helium Gas (MMscf)	CO₂ Gas (MMscf)
1U	12,293	2,794	338	4,912
2U	26,371	5,995	727	10,535
3U	42,957	9,765	1,186	17,162

(Source: Sproule ERCE)

Ismay Formation - Net Prospective Oil & Gas Resource Volumes
(14% royalty which increases to 19% from Production Year 11 onwards)

Prospect	1U Oil (Mstb)	2U Oil (Mstb)	3U Oil (Mstb)	1U Gas (MMscf)	2U Gas (MMscf)	3U Gas (MMscf)
Mariano Wash Prospect - single well	43	120	215	155	246	428
Mariano Wash Prospect - 3 well total	129	361	645	464	738	1,285

(Source: Sproule ERCE)

Quantum Chief Executive, Howard McLaughlin, commented: "This is a defining moment for Quantum. With Sproule ERCE now independently evaluating more than one billion cubic feet of 2U gross helium across Sagebrush and Coyote Wash, we have established ourselves among the larger independently certified helium companies on the London market. Few companies can point to two independently evaluated helium projects, a drilled and cased discovery well ready for testing, and a completed seismic acquisition programme that could further expand our resource base."

"The Sproule ERCE outcome gives us tremendous confidence in the scale and quality of our portfolio. It validates our disciplined technical work, strengthens our strategic position, and sets the foundation for a highly active 2026. Our engagement with the BIA has been very constructive, including a meeting with senior officials this week, and we continue to progress towards approval for the extended flow test at Sagebrush-1. With meaningful project milestones ahead, shareholders can look forward to a sustained period of value-building newsflow."

Qualified Person Statement

The information contained in this announcement has been reviewed and approved by Howard McLaughlin, Chief Executive Officer for Quantum Helium, who has more than 45 years of experience in the oil and gas industry and is a member of the American Association of Petroleum Geologists.

Note: (*) Resources have been estimated by Sproule ERCE using the reserve and resource estimation guidelines outlined by the Petroleum Resources Management System (PRMS), as revised June 2018.  Helium and Carbon Dioxide gas has been evaluated as a non-hydrocarbon gases using the principles of the SPE PRMS as allowed by the SPE August 2022 statement on the "Extension of PRMS Principles to Non-Hydrocarbon/Non-Traditional Situations".

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 the publication of this announcement via Regulatory Information Service ('RIS'), this information is now considered to be 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]

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.

Glossary

Term	Definition
1U / Low Estimate	At least a 90% probability that the quantities recovered will equal or exceed this estimate.
2U / Best Estimate	At least a 50% probability that the quantities recovered will equal or exceed this estimate. Often considered the "most likely" case.
3U / High Estimate	At least a 10% probability that the quantities recovered will equal or exceed this estimate. Represents upside potential.
Bcf	Billion standard cubic feet of gas, measured at standard conditions of temperature and pressure
Contingent Resource	Those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by application of development projects, but which are not currently considered to be commercially recoverable owing to one or more contingencies.
MMscf	Million standard cubic feet of gas, measured at standard conditions of temperature and pressure.
Mscf	Thousand standard cubic feet of gas, measured at standard conditions of temperature and pressure.
Prospective Resource	Those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects.

PRMS	Petroleum Resources Management System, the globally recognized framework issued by the Society of Petroleum Engineers (SPE) and partners, used for classifying petroleum and non-hydrocarbon resources.

 

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