Quantum Helium shares rise following strong nine month performance
Quantum Helium Ltd on Tuesday reported that gross oil revenue from its Sagebrush project in the first nine months of 2026 exceeded revenue for the whole of 2025.
Shares in the US- and Australia-focused energy exploration and development company were up 13% to 1.70 pence per share on Tuesday morning in London.
Quantum Helium, who has a 90% working interest in Sagebrush, said gross oil revenue for the nine months ended September 30 totalled USD500,765, up 23% from USD408,532 in 2025.
Third-quarter project revenue was USD184,502, with Quantum's share amounting to USD166,052.
Gross oil production totalled 7,771 barrels in the first nine months, including 2,630 barrels in the third quarter. The average realised oil price in the quarter was USD71.28 per barrel.
Quantum Helium said: "The stronger oil price environment during 2026 has contributed positively to revenues, reinforcing the value of the company's existing producing oil assets as it progresses its helium development activities."
The company said existing oil production continued to generate revenue while it advanced its helium development strategy.
Chief Executive Officer Howard McLaughlin said the company's immediate operational focus remained on advancing the planned larger-volume stimulation programme at Sagebrush-1, with preparations in their final phase.
Quantum Helium, formerly Mosman Oil & Gas, acquired around a 83% working interest in Sagebrush in February 2025, increasing its stake to 90% in December.
Copyright 2026 Alliance News Ltd. All Rights Reserved.