RE: From the RNS- Commercial Oil Production: “Commercial “, confirmed- it’s new25 Jun 2026 08:36
From today’s RNS: more important bits:
The ongoing Extended Production Test at Sagebrush has already delivered results that have exceeded our expectations. We confirmed helium-bearing gas with concentrations of approximately 2.5%, demonstrated reservoir connectivity and identified commercial oil production from the Leadville Formation.
The oil discovery was an unexpected but highly encouraging outcome. Not only does it enhance the overall value proposition of Sagebrush, but it also has the potential to provide meaningful future cash flow that can support further exploration and development activities across the portfolio.
As the testing programme continues, we intend to provide the production, pressure and fluid data to Sproule ERCE to support an updated independent assessment incorporating the newly identified oil potential, while simultaneously advancing plans for the next phase of operations, including gas analysis, development planning and evaluation of broader opportunities across both Sagebrush and Coyote Wash.
We believe we have assembled two exceptional projects within one of North America's most prospective helium fairways and look forward to updating shareholders as we continue to advance them.