Quantum Helium (QHE ) has published a year-end operational update after what it described as a highly active period across its Colorado assets, marking progress on seismic, resources and permitting ahead of planned testing in early 2026.
The company said it has completed the Sagebrush three-dimensional seismic acquisition, with the full dataset due to move into processing this week. Meanwhile, Sproule ERCE has finalised its independent resource verification report for Coyote Wash, which Quantum said confirms its second certified helium resource.
In addition, Quantum said total independently assessed 2U gross helium across Sagebrush and Coyote Wash is now more than one billion cubic feet (BCF). The company also confirmed it has finalised the Irrevocable Letter of Credit required for the extended flow test at Sagebrush-1, with funds transferred and the official letter expected shortly.
As a result, Quantum said it expects to lodge the letter immediately with the Tribe and the Bureau of Indian Affairs (BIA), alongside Tribal Council authorisation. Regulatory work is continuing, with the company expecting final sign-off for the extended flow test once the BIA completes its review cycle.
Separately, Quantum said it has acquired an additional 7.5% working interest in Sagebrush, taking its holding to 90%, as it moves into what it called a pivotal period of testing and development.
Going forward, early 2026 priorities include receiving processed and interpreted seismic results, commencing the extended flow test at Sagebrush-1 following BIA approval, integrating the new seismic into drilling and development plans, and advancing commercial discussions and surface development options.
Quantum Chief Executive Officer, Howard McLaughlin, commented: "This month has been exceptionally productive for Quantum, with a number of major milestones all achieved within days of each other. Finishing the Sagebrush 3D seismic, finalising the Sproule ERCE report on Coyote Wash, and completing the Irrevocable Letter of Credit collectively move us a significant step closer to flow testing Sagebrush-1 and progressing the wider development plan.
“The Letter of Credit has now been finalised, with all required funds transferred, and we expect the formal document to be issued shortly. Once received, it will be delivered immediately to the Tribe and the BIA with the accompanying authorisations. Subject to their availability, we anticipate sign-off shortly thereafter.
The seismic dataset is now ready to be transferred for processing, and this will give us valuable insights into the structure around Sagebrush-1 and potential new drilling targets for 2026.”
View from Vox
Quantum is lining up several near-term catalysts, with the key near-term swing factor now the timing of BIA approval for the Sagebrush-1 extended flow test. If that clearance lands as expected, the combination of a newly acquired basin-wide three-dimensional seismic dataset, a second independently verified resource at Coyote Wash, and a higher 90% stake at Sagebrush should help sharpen development planning and strengthen Quantum’s position in commercial talks as 2026 begins.