Mendell Helium is pleased to provide the Company’s audited results for the year ended 31 March 2026.
Highlights in the Chairman’s and CEO’s statements include:
· Confirmation of plans for further development of the Fort Dodge region in Kansas, USA – targeting a further four producing wells
· Rost 2-26 de-watering, Schneweis Ventures 13A producing and locations identified for new wells
· 11.5% helium composition reported at Rost 2-26
· Expectation of continued robust pricing for helium
· Alongside the higher impact Fort Dodge wells, Hugoton operations with five production wells provide a complementary low maintenance and long term production base to our operations
· Loss for the year before taxation of £1,314,000
· Move to AIM completed following the year end
The Company’s annual report and accounts for the year ended 31 March 2026 and notice of annual general meeting (“AGM”) have been sent to Mendell Helium’s shareholders. The AGM will be held at 10.30 am on Thursday 4 November 2026 at Edinburgh Printmakers, Castle Mills, 1 Dundee Street, Edinburgh, EH3 9FP.
Copies of the annual report and accounts and notice of AGM are available on the Company’s website: https://www.mendellhelium.com
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
Nick Tulloch, Chief Executive Officer of Mendell Helium, said: “We are pleased to publish our annual report for the year ended 31 March 2026, a year which provided the platform for the next phase of our development of a helium production operation in Kansas.
“Rost 1-26 and Rost 2-26 will be the hub of these plans. With recorded helium concentrations of 5.1% and 11.5% respectively, we have the potential for very significant production. We know from our experience with Rost 1-26 that increasing gas flows follow sustained removal of water and Rost 2-26 is following the same pattern, albeit with a far higher helium composition. As production develops, we will continue to work on our surface operations to enable purification of greater gas volumes. As previously announced, there may be merit in fracking Rost 2-26. This operation – if we proceed – is within our budget and could be completed in a matter of weeks.
“Our joint venture with Ritchie Exploration Inc. could not have got off to a better start with strong production from Schneweis Ventures 13A with gas and water flowing from reservoir pressure. To say this is a positive sign would be an understatement. This is a well that has considerable promise and, with access to a pipeline, production is not constrained by surface purification.
“We are finalising plans for new wells in Fort Dodge and we expect to update investors over the coming weeks on our progress.”
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
|
Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor website
|
||
|
Mendell Helium plc Nick Tulloch, CEO
|
Via our website investors@mendellhelium.com |
|
|
Cairn Financial Advisers LLP (Nominated Adviser) Ludovico Lazzaretti / Liam Murray
|
Tel: +44 (0) 20 7213 0880 |
|
|
SI Capital Limited (Broker) Nick Emerson
|
Tel: +44 (0) 1483 413500 |
|
|
Fortified Securities Guy Wheatley
|
Tel: +44 (0) 203 4117773
|
|
|
Tel: +44 (0) 20 3973 3678 |
|
|
AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss
|
Tel: +44 (0) 207 4690930
|
|
|
Brand Communications (Public & Investor Relations) Alan Green |
Tel: +44 (0) 7976 431608
|
Overview of Mendell Helium
Mendell Helium is a helium producer in Kansas, USA where it operates through its wholly owned subsidiary M3 Helium.
M3 Helium’s flagship well, Rost 1-26, is in Fort Dodge, just to the east of Dodge City, Kansas. It has been tested as containing 5.1% helium composition and a drill stem test yielded a maximum flow rate of approximately 2,900 Mcf per day. Water removed from Rost 1-26 is delivered to Brobee, a nearby disposal well that has been permitted at 10,000 barrels of water per day at 1,200 psi. Production at Rost 1-26 commenced in early November 2025 and the most recently recorded flow rate in December 2025 was 250 Mcf per day equating to approximately $1.4 million of helium per year (at $300/Mcf helium).
M3 Helium has subsequently drilled a second well, Rost 2-26, which is currently being de-watered and early results have been encouraging. In particular Rost 2-26 has reported a helium composition of 11.5%. It also owns additional leases in the Fort Dodge area capable of supporting up to eight new production wells. M3 Helium has also agreed a joint venture with Ritchie Exploration, Inc. to recomplete the Schneweis Ventures 13A, a well with a drill stem test of over 10,000 Mcf per day and a historic flow rate of 300 Mcf per day. Since coming back on line, the well has recorded peak flow rates of up to 700 Mcf per day, although rates have been variable during de-watering.
At the Rost wells in Fort Dodge, M3 Helium treats the raw gas on site to concentrate the helium and has leased two tube trailers which it uses for deliveries to its offtaker.
M3 Helium also has interests in five producing wells (Peyton, Smith, Nilson, Bearman and Dimmitt) within the Hugoton gas field in South-Western Kansas, one of the largest natural gas fields in North America. Significantly these wells are in the proximity of a gathering network and the Jayhawk gas processing plant meaning that producing wells are all tied into the infrastructure.
Full report and accounts here
