Correction to Circular
Mendell Helium plc has issued a correction to its circular regarding the general meeting, clarifying that the deadline for appointing proxies through CREST is 10.00 a.m. on 14 May 2026, not 1 May 2026. The general meeting will proceed as scheduled on 18 May 2026. The company is proceeding with its acquisition of M3 Helium, which has demonstrated helium composition of 5.1% and a drill stem test flow rate of approximately 2,900 Mcf per day at its Rost 1-26 well, generating approximately $1.4 million of helium per year at current prices. M3 Helium is also developing additional wells and has a joint venture to recomplete another well, while also exploring Bitcoin mining operations.
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Mendell Helium announces a minor correction to the circular and notice of general meeting posted to shareholders on 1 May 2026.
Note 10 in the explanatory notes as to the proxy, voting and attendance procedures at the general meeting on page 31 incorrectly stated that the deadline for appointing proxies through CREST was 10.00 a.m. on 1 May 2026. The correct deadline is 10.00 a.m. on 14 May 2026 and the circular and explanatory notes should be read accordingly.
The general meeting will be held at 10.00 a.m. on Monday 18 May 2026, at the Company's offices at Office 12, Arran House, Arran Road, Perth, Perthshire PH1 3DZ.
The Directors of the Company are responsible for the release of this announcement.
| Mendell Helium plc Nick Tulloch, CEO | Via our website investors@mendellhelium.com |
| Cairn Financial Advisers LLP (AQSE Corporate Adviser) Ludovico Lazzaretti / Liam Murray | Tel: +44 (0) 20 7213 0880 |
| SI Capital Limited (Broker) Nick Emerson | Tel: +44 (0) 1483 413500 |
| Stanford Capital Partners Ltd (Broker) Patrick Claridge/ Bob Pountney | Tel: +44 (0) 203 3650 3650/51 |
| Fortified Securities Guy Wheatley | Tel: +44 (0) 203 4117773 |
| OAK Securities Jerry Keen / Calvin Man | 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 announced on 27 June 2024 that it has entered into an option agreement to acquire the entire issued share capital of M3 Helium through the issue of 57,611,552 new ordinary shares in Mendell Helium to M3 Helium's shareholders. The option has been exercised and completion of the acquisition is expected to take place on 18 May 2026.
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 5,000 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 completed. It also owns additional leases in the Fort Dodge area capable of supporting a further four new production wells. It has also agreed a joint venture with Ritchie Exploration, Inc. to recomplete the Schneweis Ventures 13, a well with a drill stem test of over 10,000 Mcf per day and a historic flow rate of 300 Mcf per day.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.