Sagebrush-1 Extended Production Test Update

About this update from Quantum Helium Limited

    02 June 2026   Quantum Helium Limited ("Quantum" or the "Company")   Operational Update Sagebrush-1 Extended Production Test Quantum Helium Limited (AIM: QHE) is pleased to provide a further operational update on the ongoing extended production test at the Sagebrush-1 well in Colorado, USA. Highlights • Extended production test continuing at Sagebrush-1 • Initial acid injection programme successfully completed on the upper Leadville zone • Technical analysis supports progression to the next phase of reservoir stimulation • Planned fracture stimulation designed to enhance reservoir connectivity • Preliminary analysis confirms raw gas produced has close similarities to gas analysis conducted in 1994 • Further operational updates expected in due course Operational Update Operations continue to advance at Sagebrush-1 as the Company progresses the extended production test designed to evaluate the commercial potential of the helium-bearing Leadville Formation. Over recent weeks, the Company has undertaken a number of testing, monitoring and acidization activities designed to evaluate reservoir performance and optimise the forward testing programme. As is common during complex testing programmes involving historic wells, certain operational adjustments were required as the programme progressed with testing of the lower Leadville horizon appearing to have been impacted by the performance of downhole testing equipment, requiring additional operational work before testing could continue. These matters have now largely been addressed and the Company has successfully advanced into the next phase of reservoir evaluation. Following completion of this work, the Company successfully carried out an initial acid injection programme on the upper Leadville dolomite interval at approximately 7,250 feet depth. During the treatment, the formation accepted fluids at increased injection rates and pressures relative to earlier operations, providing encouraging indications regarding communication with the reservoir. The pre-stimulation programme was designed to improve near-wellbore reservoir connectivity and reduce historical formation damage. Initial engineering analysis indicates the treatment successfully extended beyond the immediate wellbore area and established communication with the targeted reservoir interval, providing valuable insight into reservo...

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