Quantum announced the results of a comprehensive geological and geophysical evaluation programme over the last 12 months across the Sagebrush (90% WI), Coyote Wash (100%) and the other acreage in its Colorado portfolio.

The Company has identified two lower-risk drilling candidates as potential near-term wells, with drilling targeted within approximately the next 12 months, subject to permitting, and operational priorities.
Three additional high-risk/impact exploration prospects have also been identified, representing substantially larger helium and oil opportunities for future potential drilling.

Quantum intends to continue refining and prioritising the opportunities generated by the seismic programme while advancing permitting, technical studies and commercial planning associated with future drilling.

In the last 12M, Quantum has undertaken a comprehensive technical programme across its acreage, including acquisition of 3D seismic, advanced seismic processing, detailed geological interpretation and integration of historical well and production data.

The programme has confirmed the integrity of the known helium-bearing structures at Sagebrush and Coyote Wash, refined the Company’s understanding of existing discoveries and, importantly, identified multiple additional drilling opportunities.

This work represents a significant step forward in Quantum’s technical understanding of its Colorado acreage and provides a substantially stronger foundation for future exploration, appraisal and development activities.

We expect a steady stream of news flow in the next 12M to validate the Company’s resource estimates and further de-risk the wider portfolio, progressing potential targets through detailed evaluation and development planning towards drill ready status.

*SP Angel acts as Nominated Advisor and Corporate Broker to Quantum Helium Ltd