Quantum Helium (AIM:QHE), the AIM-listed helium, hydrogen and hydrocarbon explorer with US and Australian projects, is targeting the start of a stimulation programme at its Sagebrush-1 well in Colorado during the fourth quarter.
Technical adviser IPT Well Solutions has recommended a conventional propped fracture stimulation of the Upper Leadville interval, having found previous acid-based treatments may have been by the formation's mineralogy, and is now modelling a larger-volume treatment.
"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," said Carl Dumbrell, Executive Chairman.
The programme sits within a wider Colorado drilling strategy, with further activity planned across Sagebrush and Coyote Wash during 2027, and is subject to regulatory approvals and service-company availability.
Separately, the company's OTC Markets quotation goes live on 22 September under the ticker QHELF, widening access for US investors.
Quantum has also approved a £250,000 investment in Herencia Resources, an Australian gold exploration company planning a return to London markets, taking 10 million shares at 2.5p each. Directors Carl Dumbrell and Graham Duncan sit on both boards, making it a related party transaction under AIM Rule 13.
Quantum held cash of approximately £5.505 million as at 30 June, with the Herencia stake representing approximately 4.54% of that balance. Dumbrell intends to buy Quantum shares in the market following the company's results, subject to dealing clearance.