Quantum Helium (QHE) is moving towards the next phase of operations at its Sagebrush Project in Colorado, with a stimulation programme now being prepared following detailed technical work with IPT Well Solutions.
The planned programme will build on information generated from the earlier Sagebrush-1 work. IPT has recommended a conventional propped fracture stimulation and is modelling a larger-volume treatment designed to establish stronger and more sustained connectivity with the Leadville reservoir.
Alongside Sagebrush, Quantum is progressing its broader Colorado drilling strategy, with technical and drilling plans advancing across both Sagebrush and Coyote Wash for 2027. The company said this provides a wider pipeline of potential operational activity and catalysts across its portfolio.
Quantum remains well funded to progress these plans. As at 30 June 2026, the company held cash balances of ~£5.505 million and said it retains substantial financial capacity to fund its current exploration, development, operating and working-capital requirements.
The company has also proposed a £250,000 strategic investment in Herencia Resources.
Herencia is an exploration and development company progressing the Great Caesar Gold Project in Queensland, Australia and its proposed return to the London public markets. Carl Dumbrell and Graham Duncan are directors of both Herencia and Quantum Helium.
The Board believes that the investment offers an opportunity to enhance returns from a relatively small portion of available cash while preserving funding for its core activities.
Quantum Helium’s Executive Chairman Carl Dumbrell said: "Quantum enters this next phase in a very strong position. We are well funded, we have an experienced technical team and, following the detailed work undertaken with IPT, we now have a clear pathway for the next stage of operations at Sagebrush.
"The forthcoming stimulation programme builds directly on the technical information generated from the earlier work at Sagebrush-1. IPT has recommended a conventional propped fracture stimulation and is now modelling a larger-volume treatment designed to establish stronger and more sustained connectivity with the Leadville reservoir.
"Importantly, Sagebrush is one part of a broader development strategy across our Colorado portfolio. Alongside the stimulation and evaluation programme, we are progressing technical and drilling plans across Sagebrush and Coyote Wash for 2027, providing the Company with a wider pipeline of potential activity and catalysts."
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The next operational phase at Sagebrush is the main near-term focus, while work across Coyote Wash gives Quantum a broader pipeline for 2027. Its strong cash position also provides flexibility to pursue the non-core Herencia investment without materially affecting funding for its Colorado programme.