Business
Coyote Wash receives formal BIA Approval
Quantum Helium Limited has received formal approval from the U.S. Bureau of Indian Affairs for the Indian Mineral Development Agreement concerning the Coyote Wash Project, a significant regulatory milestone enabling well planning and drilling preparations for helium and oil targets. The company also reported that the assignment of operatorship for the Sagebrush project is progressing towards conclusion, with all required documentation received and in good standing. Quantum's Colorado portfolio now holds 1.104 BCF gross (828 MMscf Net) 2U helium resources, including 0.97 BCF at Coyote Wash and 0.134 BCF at Sagebrush, alongside prospective recoverable oil resources of up to 750,000 barrels at Coyote Wash. Disclaimer*
About this update from Quantum Helium Limited
[{"type":"text","content":"\n\n\n \n26 February 2026\n \nQuantum Helium Limited\n(\"Quantum\" or the \"Company\")\n \nBIA Approval of Coyote Wash IMDA\nAssignment of Sagebrush operatorship progressing towards conclusion\nQuantum Helium Limited (AIM: QHE) is pleased to announce that it has received confirmation from the U.S. Bureau of Indian Affairs (\"BIA\") that the Indian Mineral Development Agreement (\"IMDA\") relating to the Coyote Wash Project has been formally approved.\nThis approval represents a significant regulatory milestone for the Company and follows the previously announced independent resource confirmation by Sproule ERCE at Coyote Wash.\nThe Company is still awaiting formal approval of the Sagebrush assignment of operatorship with the BIA having confirmed that all documentation required for the assignment of the relevant leases and designation of operatorship has been received and is in good standing.\nThe Company understands that formal approval of the Sagebrush assignment and operatorship is progressing towards conclusion and remains confident that this will be completed in the short term.\nWith IMDA approval now secured at Coyote Wash and constructive engagement ongoing across regulatory and Tribal stakeholders, Quantum believes it is entering an important operational phase across its Colorado portfolio.\nCoyote Wash - IMDA Approval\nThe IMDA provides the contractual and regulatory framework under which Quantum may develop helium and hydrocarbon resources on Tribal lands within the Coyote Wash project area, where the Company holds a 100% working interest and is operator.\nWith IMDA approval now secured, Quantum is positioned to:\n· Advance well planning and final permitting activities;\n· Progress drilling preparations across the five mapped Leadville helium prospects;\n· Refine development planning for both helium and Ismay oil targets; and\n· Move towards drilling and development operations at Coyote Wash.\nAs announced on 19 December 2025, Sproule ERCE independently confirmed 2U gross prospective helium resources of 0.97 BCF at Coyote Wash. Combined with the 0.134 BCF 2U gross helium prospective resource at Sagebrush, Quantum holds 1.104 BCF gross (828 MMscf Net) 2U helium across its Colorado portfol...