RE: What a phenomenal update11 Dec 2025 10:33
Shares in Quantum Helium Ltd (AIM:QHE) rose 3% to 0.027p after the company increased its working interest in the Sagebrush helium project in Colorado to 90 per cent, acquiring a 7.5 per cent stake from Jackal Oil Company for US$85,000.The move consolidates Quantum’s position ahead of production testing at its drilled and cased Sagebrush-1 discovery well. The remaining 10 per cent interest in the project is held by chief executive Howard McLaughlin.
Fieldwork on a 3D seismic survey at Sagebrush is nearing completion, with results expected in January. The survey is aimed at refining the geological model of the Leadville formation and guiding future well locations.
It will also be integrated with existing seismic data from the nearby Coyote Wash project.At Coyote Wash, consultant Sproule ERCE is finalising a resource report following seismic reinterpretation and reservoir analysis. Quantum previously reported an internal best estimate of 1,072 million cubic feet of gross prospective helium resources.
Regulatory progress is continuing, with final approvals pending for an extended flow test at Sagebrush-1. The company said testing is expected to begin early in the new year.Chairman Carl Dumbrell called the acquisition “a very positive and strategic outcome.”