Desert Mountain Energy Announces Helium Discovery on Well
Desert Mountain Energy Corp. (TSXV: DME, U.S. OTC: DMEHF) announced significant helium discoveries in its fourth wildcat well, prompting the company to set production casing for further development. The drilling indicated minimal levels of gases other than helium and nitrogen, which is promising for future production. The company has also received a direct payee number from the US government for same-day payment on gas shipments. Additionally, 150,000 options have been assigned to a consultant at $4.25 CDN each.
- Significant helium showings discovered in the fourth wildcat well.
- Decision made to set production casing, indicating future production potential.
- Direct payee number awarded by the US government for immediate gas shipment payments.
- Options granted at $4.25 CDN suggest potential value for consultants.
- None.
TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, July 9, 2021 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (U.S. OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.
Desert Mountain Energy Corp. is pleased to announce that it has encountered significant showings of helium across four formations in its fourth wildcat well. A decision was made to set production casing and is in the process of cementing it into place. In keeping with the original plan, indications suggest there was very limited background levels of gases other than Nitrogen and Helium present during drilling.
The Company will be scheduling the completion equipment and will not make further announcements with regards to this well until those completion procedures and testing are completed.
The Company is also pleased to announce that it has been assigned a direct payee number by the US government, to enable immediate same day payment for gases shipped.
The Company has assigned 150,000 options at
ABOUT DESERT MOUNTAIN ENERGY
Desert Mountain Energy Corp. is a publicly traded exploration and resource company focused on the discovery and development of rare earth gas fields in the U.S. The Company is primarily looking for elements deemed critical to the renewable energy and high technology industries.
We seek safe harbor
"Robert Rohlfing"
Robert Rohlfing
Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forwardlooking statements and information herein include but are not limited to statements regarding the Company's anticipated performance in the future the planned exploration activities, receipt of positive results from drilling, the completion of further drilling and exploration work, and the timing and results of various activities.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and the United States; financial risks due to helium prices, operating or technical difficulties in exploration and development activities; risks and hazards and the speculative nature of resource exploration and related development; risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of the Company's exploration operations, no material adverse change in the market price of commodities, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
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SOURCE Desert Mountain Energy Corp.
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