Mosman Oil and Gas (QHE) AI Stock Analysis

• Market Cap: £12.66M
• Dividend Yield: N/A
• Average Volume (3M): 617.12M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.15
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: N/A
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): N/A
• Shares Outstanding: 33,318,730,000
• 10 Day Avg. Volume: 578,108,454
• 30 Day Avg. Volume: 617,117,608
• PEG Ratio: -0.01
• Price to Book (P/B): 3.22
• Price to Sales (P/S): 27.60
• P/FCF Ratio: -3.22
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): £1.85M

• Rating: 48 Neutral
• Price Target: 0.04 p ▼(-12.50% Downside)
• Action: Reiterated Date: 01/20/26
• Date: Action: Reiterated 01/20/26

The score is held down primarily by weak financial performance—ongoing losses, volatile/declining revenue, and persistent (and accelerating) cash burn—despite the benefit of a no-debt balance sheet. Technicals are a positive near-term factor with improving momentum above key moving averages, but valuation is limited by loss-making fundamentals and no dividend support.

Positive Factors

Low leverage / no debt

A no-debt capital structure materially reduces refinancing and solvency risk over the medium term. This durable strength gives management flexibility to pursue farm-outs, joint ventures or selective capex without immediate debt servicing pressure, increasing survival odds while cash flow is negative.

Asset monetisation & JV optionality

The business model includes structural monetisation levers (farm-outs, disposals, carried JV work) that can convert exploration value into cash without equity dilution. Over 2-6 months these options provide realistic pathways to fund appraisal or development and de-risk projects.

Improved gross margin

A sustained gross margin uplift suggests stronger realized hydrocarbon economics or lower operating unit costs. If maintained, higher margins improve the long-term conversion of production into operating cash, making eventual return to profitability more feasible once volumes or revenues stabilise.

Negative Factors

Persistent negative cash flow

Ongoing operating cash outflows and accelerating cash burn are a structural weakness: they increase near-term funding needs, raise dilution or refinancing risk, and limit the company's ability to self-fund exploration or development, constraining long-term project delivery.

Deepening net losses & volatile revenue

Worsening profitability and a volatile, declining top line are durable red flags. Persistent losses erode equity and reduce reinvestment capacity, making it harder to progress projects, attract partners, or sustain operations without external funding over the medium term.

Contracting asset base and equity

A shrinking asset base and falling shareholder equity indicate write-downs, disposals, or depletion outpacing investment. This reduces future production potential and collateral for financing, tightening capital access and limiting long-term growth unless asset momentum reverses.

Mosman Oil and Gas Business Overview & Revenue Model

Company Description

Quantum Helium Limited, together with its subsidiaries, engages in the exploration, development, and production of oil and gas properties in Australia and the United States. It primarily explores helium, hydrogen, and hydrocarbons. The company was formerly known as Mosman Oil and Gas Limited and changed its name to Quantum Helium Limited in November 2025. Quantum Helium Limited was incorporated in 2011 and is based in Sydney, Australia.

How the Company Makes Money

Mosman Oil and Gas makes money primarily through upstream petroleum economics: (1) Hydrocarbon production revenue: When it holds interests in producing fields/wells, it earns its working-interest share of gross proceeds from the sale of crude oil and/or natural gas. Sales are typically made to purchasers/marketers at market-linked prices, with revenue net of applicable royalties, production/severance taxes, and operating costs borne in proportion to its interests. If Mosman does not have producing assets in a given period, this revenue stream may be minimal or absent. (2) Asset monetisation (farm-outs, partial disposals, and sales of interests): The company can generate cash by selling all or part of its interest in licences/leases or by farming out interests to partners in exchange for cash consideration, reimbursement of past costs, or a carry of future drilling/appraisal/development expenditure. (3) Joint venture/operator arrangements: Where projects are progressed with partners, Mosman’s economics are influenced by the contractual allocation of costs and revenues (e.g., whether Mosman is carried for a phase of work, the size of its retained interest, and any royalties/overrides). (4) Capital markets funding is not operating revenue, but it can be a significant factor enabling the company to progress projects; however, specific details of financing arrangements, counterparties, or current producing assets are null here because they are not provided in the prompt.

Mosman Oil and Gas Financial Statement Overview

Summary

Financials are weak overall: profitability is deeply negative with a sharp revenue decline and worsening net results (low income statement score), and cash flow remains persistently negative with accelerating cash burn (low cash flow score). The main offset is a low-leverage balance sheet with no reported debt, though equity and assets have contracted.

Income Statement

Profitability is weak and deteriorating. While gross margin improved in 2025 (annual) to ~56% (from ~41% in 2024), the company remains deeply loss-making with negative operating profit and a very large net loss in 2025 (annual) versus 2024. Revenue has also been volatile and, in 2025 (annual), fell sharply versus the prior year, indicating an unstable top line and limited operating leverage.

Balance Sheet

Leverage is low with no reported debt across all periods, which reduces refinancing and solvency risk. However, recurring losses are eroding shareholder value: equity declined materially from 2024 (annual) to 2025 (annual), and returns on equity are strongly negative (worsening in 2025). Asset base also contracted meaningfully, highlighting ongoing balance sheet pressure despite the clean capital structure.

Cash Flow

Cash generation is consistently negative, with operating cash flow and free cash flow below zero in every year shown. In 2025 (annual), cash burn accelerated materially versus 2024, indicating higher funding needs and limited self-financing capacity. Although free cash flow is numerically larger than net loss (because non-cash items likely inflate accounting losses), the core issue remains persistent operating cash outflows.

Breakdown	Jun 2025	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	503.57K	186.23K	572.17K	1.81M	816.70K
Gross Profit	281.48K	76.36K	221.29K	695.10K	324.93K
EBITDA	-2.53M	-1.32M	-1.86M	-2.19M	-1.18M
Net Income	-10.32M	-2.14M	-2.13M	-2.45M	-1.36M
Balance Sheet
Total Assets	5.24M	9.45M	8.67M	8.60M	7.72M
Cash, Cash Equivalents and Short-Term Investments	4.00M	873.37K	575.97K	2.41M	2.29M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	921.18K	2.41M	1.38M	1.32M	400.15K
Stockholders Equity	4.32M	7.04M	7.29M	7.28M	7.32M
Cash Flow
Free Cash Flow	-4.31M	-1.47M	-3.63M	-2.08M	-3.32M
Operating Cash Flow	-1.52M	-528.77K	-1.21M	-495.29K	-1.07M
Investing Cash Flow	-2.03M	-962.15K	-2.57M	-1.59M	-2.98M
Financing Cash Flow	6.49M	1.86M	1.93M	2.04M	6.11M

Mosman Oil and Gas Technical Analysis

• Last Price: 0.04

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:QHE, the sentiment is undefined. The current price of 0.04 is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of ― indicates undefined momentum. The RSI at ― is undefined, neither overbought nor oversold. The STOCH value of ― is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a undefined sentiment for GB:QHE.

Mosman Oil and Gas Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
ANGS	54 Neutral	£11.97M	4.49	-21.11%	―	-12.15%	-200.00%
CAD	53 Neutral	£11.93M	6.01	-16.91%	―	-29.63%	-427.78%
ORCA	49 Neutral	£13.07M	-4.98	-26.63%	―	―	27.27%
QHE	48 Neutral	£12.66M	-1.35	―	―	―	―
TRP	44 Neutral	£10.20M	-2.30	-5.14%	―	―	―

Mosman Oil and Gas Corporate Events

Quantum Helium Clears Key U.S. Hurdle to Advance Sagebrush Helium Project

Quantum Helium has secured formal approval from the U.S. Bureau of Indian Affairs for the assignment of the Sagebrush lease in Colorado, where it holds a 90% working interest, clearing the way to be appointed operator. This decision, which follows recent BIA approval at Coyote Wash, consolidates the company’s regulatory footing in the Four Corners helium fairway and underpins a Colorado portfolio now exceeding 1 BCF of independently verified gross helium resources.

With all long-lead equipment already in place, Quantum plans to launch an extended production test on the Sagebrush-1 well once operatorship is confirmed, focusing on the helium-bearing Leadville Formation that previously tested at 2.76% helium over about 94 feet of gas pay. The test, supported by 3D seismic and an independent Sproule ERCE assessment of 134 MMscf 2U prospective helium resources at Sagebrush, is intended to refine reservoir models and could mark a significant step toward commercial development, with implications for project economics and local tribal stakeholders.

The most recent analyst rating on (GB:QHE) stock is a Hold with a £0.03 price target. To see the full list of analyst forecasts on Mosman Oil and Gas stock, see the GB:QHE Stock Forecast page.

Quantum Helium Wins Key U.S. Approval to Launch Sagebrush Production Test

Quantum Helium has secured U.S. Bureau of Indian Affairs approval for the assignment of the Sagebrush lease in Colorado, where it holds a 90% working interest, clearing the way for it to become operator and begin an extended production test on the Sagebrush-1 helium well. The move consolidates its position in the Four Corners helium fairway, underpinned by a drilled and cased discovery, more than 1 BCF of independently verified gross helium resources across Sagebrush and Coyote Wash, and recently acquired 3D seismic that de-risks the planned test.

The Sagebrush-1 extended production test will target the helium-bearing Leadville Formation, where historical tests showed 2.76% helium and about 94 feet of net gas pay, and will use modern completion and acid stimulation to assess productivity and reservoir performance. Results from this program are expected to feed into reservoir modelling and potential resource-to-reserve conversion, marking a key step toward possible commercial development of Sagebrush and the broader build-out of Quantum’s Colorado helium portfolio.

The most recent analyst rating on (GB:QHE) stock is a Hold with a £0.03 price target. To see the full list of analyst forecasts on Mosman Oil and Gas stock, see the GB:QHE Stock Forecast page.

Quantum Helium secures key approval for Coyote Wash as Colorado portfolio advances

Quantum Helium has secured formal approval from the U.S. Bureau of Indian Affairs for the Indian Mineral Development Agreement covering its Coyote Wash helium and hydrocarbon project in Colorado, where it is operator with a 100% working interest. The IMDA framework allows the company to advance well planning, final permits, drilling preparations on five Leadville helium prospects, and development planning for both helium and Ismay oil targets.

Independent assessments by Sproule ERCE confirm 2U gross prospective helium resources of 0.97 BCF at Coyote Wash and 0.134 BCF at Sagebrush, giving Quantum a combined 1.104 BCF gross helium resource across Colorado plus prospective Ismay oil resources of up to 750,000 barrels. Management says this positions Coyote Wash as a material growth driver while the near-term focus remains on securing final approvals for an extended production test at the Sagebrush-1 well, supported by new 3D seismic data and ongoing engagement with tribal and regulatory stakeholders.

The most recent analyst rating on (GB:QHE) stock is a Hold with a £0.03 price target. To see the full list of analyst forecasts on Mosman Oil and Gas stock, see the GB:QHE Stock Forecast page.

Quantum Helium’s 3D Seismic Confirms Major Helium Structure at Colorado Sagebrush Field

Quantum Helium reported that initial processing of high-resolution 3D seismic data at its Sagebrush project in Colorado has confirmed a large potential helium-bearing structure in the Leadville Formation, validating earlier 2D seismic interpretation and historic Sagebrush-1 well data showing 2.76% helium. The improved seismic resolution significantly boosts structural confidence, materially de-risks the planned extended production test at Sagebrush-1, and underpins the company’s helium-led development strategy at the field.

The survey has also highlighted new oil and helium opportunities, including Ismay Formation amplitude anomalies at Sagebrush that resemble the original oil discovery and may indicate undrilled algal mound targets, as well as indications that the crest of a key structure at Coyote Wash remains untested. These findings refine six previously disclosed Leadville helium prospects and additional oil targets at Coyote Wash, reinforcing the broader growth potential of Quantum Helium’s US portfolio and its positioning in the emerging helium market.

The most recent analyst rating on (GB:QHE) stock is a Hold with a £0.04 price target. To see the full list of analyst forecasts on Mosman Oil and Gas stock, see the GB:QHE Stock Forecast page.

Quantum Helium Wins Key BIA Approval for Sagebrush Project Bonding

Quantum Helium Limited has secured approval from the U.S. Bureau of Indian Affairs for the Irrevocable Letter of Credit required for bonding at its Sagebrush Project in Colorado, marking a key regulatory milestone. With this approval in place, the company is now advancing the assignment of leases and formal designation of operatorship with the BIA, while all long-lead items for the planned extended production test at Sagebrush have been procured, positioning Quantum for an active 2026 as it progresses testing and development across its Colorado portfolio.

The most recent analyst rating on (GB:QHE) stock is a Hold with a £0.04 price target. To see the full list of analyst forecasts on Mosman Oil and Gas stock, see the GB:QHE Stock Forecast page.

Quantum Helium Director Graham Duncan Increases Stake with 39.3 Million-Share Purchase

Quantum Helium Limited has disclosed that non-executive director Graham Duncan has significantly increased his stake in the company, purchasing 39.3 million ordinary shares between 29 December 2025 and 7 January 2026 at 0.039 pence per share. Following these transactions, Duncan now holds 100,250,617 ordinary shares, representing 0.30% of the company’s voting rights, a move that may be interpreted by investors as a sign of confidence from the board in Quantum’s exploration and production strategy across its US and Australian assets.

Quantum Helium Executive Director Increases Stake with 45 Million-Share Purchase

Quantum Helium Limited has disclosed that Executive Director Andrew Scott purchased a total of 45,000,000 ordinary shares in the company on 29 and 30 December 2025 at 0.04 pence per share. Following these transactions, Scott’s beneficial holding has increased to 174,791,702 ordinary shares, representing 0.52% of the company’s total voting rights, signalling a notable vote of confidence in Quantum’s prospects from within its senior leadership.

Quantum Helium consolidates Colorado position with new certified resource and Sagebrush progress

Quantum Helium Limited has delivered a year-end operational update highlighting rapid progress across its Colorado assets, including completion of the Sagebrush 3D seismic acquisition and finalisation of an independent resource report for the Coyote Wash project by Sproule ERCE. The report confirms Coyote Wash as the company’s second certified helium resource, lifting total independently assessed 2U gross helium resources at Sagebrush and Coyote Wash to more than 1 billion cubic feet. Quantum has also secured the Irrevocable Letter of Credit required for an extended flow test at the Sagebrush-1 well and expects final regulatory sign-off from the US Bureau of Indian Affairs following submission of the letter and associated tribal approvals. In parallel, the company has increased its working interest in Sagebrush to 90%, consolidating its position ahead of a pivotal phase of testing, seismic interpretation and drilling planning in early 2026, when it also aims to advance commercial and surface development discussions. These steps materially strengthen Quantum’s technical database, regulatory footing and ownership position, setting up a catalyst-heavy 2026 that could be significant for its resource monetisation and broader helium development plans.

Quantum Helium Secures Major Independently Certified Helium Resource in Colorado

Quantum Helium Limited has received an independent resource report from Sproule ERCE confirming a 2U (best estimate) gross recoverable helium resource of 0.97 billion cubic feet (BCF) at its 100%-owned Coyote Wash project in Colorado. When combined with the previously certified 0.134 BCF at the nearby Sagebrush project, the company now has 1.104 BCF of independently verified 2U gross helium resources in Colorado, giving it one of the largest independently certified helium portfolios among London-listed helium companies and an indicative potential gross value of about US$331 million. Sproule ERCE also identified prospective recoverable oil volumes of up to 750,000 barrels at an Ismay formation prospect on the Coyote Wash acreage and noted three potential well locations, while 3D seismic at Sagebrush has been completed and an extended flow test for the Sagebrush‑1 discovery well is advancing through regulatory approvals, underpinning an active 2026 work programme and signalling a period of resource maturation and potential value creation for shareholders.

Quantum Helium Expands Stake and Advances Seismic Survey at Sagebrush Project

Quantum Helium Limited has increased its working interest in the Sagebrush Helium Project in Colorado from 82.5% to 90%, leading to updated net resource figures. The company is progressing well with its high-resolution 3D seismic program at Sagebrush, expecting substantial completion of the survey soon, with initial processed outputs anticipated in January. This development enhances Quantum’s resource base and strengthens its position in the helium and hydrocarbon industry.