Quantum Helium Ltd (AIM:QHE) told investors it has identified two near-term drilling candidates and three larger follow-on prospects after completing an extensive seismic evaluation of its Colorado acreage.
The two lower-risk targets could be drilled within approximately 12 months, subject to permitting and operational priorities. Quantum said they could provide a route towards near-term production and cash flow while supporting its wider helium and oil strategy.
Three additional prospects offer potentially larger helium and oil opportunities, with the company saying they could materially expand its resource base. Further exploration concepts are also emerging as interpretation of the seismic data continues.
The work combined newly acquired high-resolution 3D seismic with reprocessed historic surveys and a review of drilling, wireline and production data. It confirmed the integrity of the helium-bearing structures at Sagebrush and Coyote Wash while expanding Quantum’s inventory beyond the two established projects.
Chief executive Howard McLaughlin said the programme had “continued to expand the number of opportunities” across the acreage. Quantum will now refine the targets and advance permitting, technical studies and commercial planning for future drilling.
