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Successful EPT confirms Helium plus Commercial Oil
Quantum Helium Limited announced successful results from the Sagebrush-1 Extended Production Test, confirming helium concentrations of 2.5% and demonstrating reservoir connectivity with pressure build-up reaching approximately 90% of virgin reservoir pressure. The test also unexpectedly identified commercial oil production from the Leadville Formation, with potential rates of up to 40 barrels per day gross, opening a new hydrocarbon play and recovering over 80 barrels of oil to date. These findings, alongside an independently certified helium resource base of 1.104 BCF across its Colorado portfolio, are expected to inform future development strategies for both helium and oil. Disclaimer*
About this update from Quantum Helium Limited
15 June 2026 Quantum Helium Limited ("Quantum" or the "Company") Successful Sagebrush-1 Extended Production Test Confirms Helium-Bearing Gas, Reservoir Connectivity and Commercial Oil Production New oil play identified alongside one of the largest independently certified helium resource positions on the London market Quantum Helium Limited (AIM: QHE) is pleased to provide an update on the Extended Production Test ("EPT") at the Sagebrush-1 well in Colorado, where the Company holds a 90% working interest, which remains ongoing. The EPT has been successful in confirming helium-bearing gas, reservoir connectivity and commercial oil production from the Leadville Formation, while generating significant new data to support future development and resource evaluation. Highlights · Helium concentrations of 2.5% confirmed by laboratory analysis of recovered gas samples - consistent with historical testing and significantly above typical industry concentrations of approximately 0.3% to 1.0% · Acid fracture stimulation successfully established connectivity with natural fracture systems, with pressure build-up reaching approximately 90% of virgin reservoir pressure as measured by downhole gauges · High injectivity confirms the presence of a significant natural fracture system, providing important information for appraisal and development planning · Commercial oil production identified from the Leadville Formation (between 7,250 and 7,360 feet depth) - an unexpected outcome that opens a new hydrocarbon play in the Sagebrush area, with potential rates of up to 40 barrels per day gross to working interest indicated by initial testing results and reservoir analysis over a more than two week period. · More than 80 barrels of oil recovered during testing operations to date · EPT production, pressure and fluid data to be provided to Sproule ERCE for review, including assessment of the newly identified oil potential · Next phase underway - additional perforations and completion modifications to increase reservoir exposure and accelerate further required cleanup, with existing production equipment on site to support longer-term operations. The...
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