DESERT MOUNTAIN ENERGY CORP. ACQUIRES 40 ACRES OF LAND FOR WELLS IN THE McCAULEY FIELD
Desert Mountain Energy Corp. (TSX.V: DME, OTC: DMEHF) has announced the acquisition of an additional 40 acres of land in the McCauley field for upcoming developmental wells, with drilling expected to commence shortly. The company is focused on becoming a vertically integrated helium producer and is in the process of finalizing permits for new wells while establishing contracts with end-users. Notably, they have secured a priority arrangement with Drake Well Services Inc. for drill services, enhancing their operational capabilities.
- Acquisition of 40 acres improves drilling capacity.
- Expected permits for new wells to enhance production.
- Plans to establish contracts with 36 end-users within 300 miles.
- Risks associated with the speculative nature of resource exploration.
- Dependence on market conditions for helium pricing.
TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, Jan. 5, 2022 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSX.V: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.
Desert Mountain Energy is pleased to announce the purchase of an additional 40 acres of land for the drilling of developmental wells with plans to begin work this month. The Company is continuing to pursue ownership of acreage surrounding future well locations, believing it is in the best interests of both local landowners and the Company. The permitting process was previously started for the next well in the McCauley field and it is expected to have that permit shortly.
The company has also completed the required filings to sell processed helium to the US Government and has signed non-disclosure agreements with other end-users. "The Company's plan has always been to become a vertically integrated helium producer selling directly to end-users," said Robert Rohlfing, CEO of Desert Mountain Energy. "Due to our location, we have the luxury of having 36 end-users within 300 miles of our finishing facility. We expect to be adding further end-user contracts and we look forward to building upon those relationships."
The Company has entered into an agreement with Drake Well Services Inc., whereby in exchange for pre-payment for drilling services, the Company is provided priority use of a top drive rig with a 16,000' depth capability.
ABOUT DESERT MOUNTAIN ENERGY
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.
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 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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