DESERT MOUNTAIN ENERGY COMPLETES CASED HOLE COMPLETION WORK ON WELL 5 AND 6
Desert Mountain Energy Corp. (DMEHF) has successfully completed cased hole work on Wells 5 and 6, with Well 7 expected to finish later this week. Initial tests indicated bottom hole pressures are within anticipated values, and sampling for gaseous analysis has been completed. The company plans to drill another wildcat well before summer. Additionally, DME has set 350,000 options for officers and directors at $3.30 for three years, indicating confidence in future growth.
- Successful completion of cased hole work on Wells 5 and 6.
- Initial flow tests show bottom hole pressures within expected values.
- Plans for future drilling of an additional wildcat well.
- Issuance of 350,000 options at $3.30 demonstrates commitment to company leadership.
- None.
TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, May 2, 2022 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.
Desert Mountain Energy Corp. (DME) is pleased to announce that it has completed cased hole work on Wells 5 and 6. Completion work on Well 7 is anticipated to be completed later this week. Bottom hole pressures were within the expected values and the initial flow test and sampling for gaseous analysis have been completed. The Company made the decision to test the zones of interest, for future production within the McCauley Helium Field and on other DME properties. These lowest zones were then shut off and our main zones of interest for primary helium production were then perforated and tested with gas samples being sent via ground transportation to an independent lab for analysis.
"These 3 wells are expected to go online along with Wells 2 and 4," says Desert Mountain Energy Corp. CEO, Robert Rohlfing. "Results from Wells 5, 6 and 7 will be released as soon the laboratory test results are received. The Company is planning on drilling another wildcat well before summer, hoping to add another helium field to our current portfolio."
Desert Mountain Energy Corp. has set 350,000 options for officers, directors and consultants at a price of
Desert Mountain Energy Corp. is a publicly traded resource company primarily focused on exploration, development and production of helium, hydrogen and noble gases. 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
Exec 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.
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 forward looking 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 nor 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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