Milestones

Mosman Oil and Gas Limited (‘Mosman’) shareholders approve name change to Quantum Helium to reflect the Company’s new management and focus on helium exploration and development.

Quantum Helium begins trading on the London Stock Exchange under the new ticker, QHE on 14 November 2025.

Carl Dumbrell, Executive Chairman of Quantum Helium, commented: “The adoption of the Quantum Helium name reflects our evolution into a dedicated helium exploration and development company with verified and fast-advancing projects in Colorado’s Four Corners region. Our Sagebrush project has already been independently evaluated by Sproule ERCE, while the evaluation process for Coyote Wash is now underway, with results expected before the end of this month. With 3D seismic acquisition about to commence and an extended flow test planned at Sagebrush this quarter, we are entering a very active and potentially value accretive period for the Company. Quantum Helium benefits from proven helium prospective resources, a drilled and cased discovery well, and clear pathways toward commercial production. I’m very optimistic about the opportunities ahead for the Company and our shareholders.”

Mosman Oil and Gas Limited (‘Mosman’), advancing helium, hydrogen and hydrocarbon projects in the USA, is pleased to announce that the Ute Mountain Ute Tribe has formally approved the 3D seismic acquisition programme at the Company’s flagship Sagebrush Project in Colorado, USA, where Quantum Helium holds an 82.5% working interest.

This approval marks a major milestone in the advancement of Sagebrush, enabling Mosman to move ahead with preparations for the seismic acquisition scheduled to commence in late September and run through mid-October 2025. The 3D seismic survey is a key component in refining drill targets and advancing towards an extended production test at the previously drilled Sagebrush-1 well, which recorded historic helium concentrations of 2.76% from the Leadville Formation.

The final Environmental Assessment for Coyote Wash was completed on 17 July 2025 and is currently in the final stages of the permitting process.

Mosman announced completion of the Sale and Purchase Agreement (SPA) and Transfer of Title on permit EP 145, Amadeus Basin, NT, Australia to Echelon Resources Limited (“Echelon”, ASX:ECH). Mosman received AU$440,000 (AU$400,000 plus GST) as part of the completion of the SPA and transfer of EP-145 Permit to Echelon where Mosman retains a 5% royalty on helium and hydrogen. The contract includes an option for Mosman to re-acquire any area of EP 145 when Echelon no longer wishes to explore in, or produce from, any area of the licence.

Mosman signed an agreement to sell EP-145 to ASX listed Echelon Resources Limited, a company that has interests in the adjacent Mereenie gas field. This is expected to lead to earlier drilling and development of this permit area. Mosman retains a 5% helium and hydrogen royalty.

Mosman signed an agreement with Westmarket Oil & Gas Pty Ltd (a wholly owned subsidiary of Georgina Energy PLC (AIM: GEX) for the  sale of EP(A)-155. Mosman retains a 2.5% royalty.

In December 2024 Mosman was awarded the rights to explore this area in Colorado that has multiple targets identified on 3D seismic.

On 2 October 2024, the Company completed the sale of Nadsoilco LLC (which held the Stanley oil production assets) for consideration of up to US$1.75 million.

On 15 October 2024, Mosman reached an agreement to acquire the 75% interest in EP-145 from Greenvale Energy Ltd, resulting in Mosman holding a 100% interest and operational control of EP-145. Subsequent to period end, the Group announced that it had signed an agreement with Echelon Resources Limited with binding terms to sell 100% EP 145 for $400,000, and retain a 5% helium and hydrogen royalty. The disposal is subject to normal conditions, including government approvals which are anticipated to take a few months.

On 16 September 2024, the Company announced it had raised £1.5 million (before expenses) by way of a fundraising undertaken by SP Angel through the issue of 4,285,714,287 new ordinary shares at a price of 0.035 pence per share.

On 23 July 2024, the Group announced that it had acquired a further 10% working interest (“WI”) in the Vecta Helium Project in Colorado, USA from Vecta Oil and Gas Ltd, increasing Quantum Helium’s total WI in the project to 20%. Vecta continues to own the remaining 80% WI and operate the project.

The Vecta Helium Project includes c 51,000 leased acres in Colorado, in five areas each with identified helium prospects. The exploration strategy is to drill an exploration well on each of the five areas in 2025. Following a successful exploration programme, the next step would be to acquire seismic and drill helium production wells. A rig has been contracted by Vecta to drill five wells.