Desert Mountain Energy Discovers Commercial Helium / Hydrogen Well
Desert Mountain Energy Corp. announced the discovery of helium and hydrogen in Well #2, allowing for production commingling with Well #4 in the McCauley Field. Independent lab tests reported composition: nitrogen 91.970%, helium 4.171%, hydrogen 3.832%, CO2 0.019%. The base site preparation for the processing plant is complete, with timelines for initial production to follow. The company remains optimistic about ongoing legal matters regarding Well #3 while cautioning against premature conclusions. Financial risks due to helium prices and regulatory challenges remain pertinent.
- Discovery of helium (4.171%) and hydrogen (3.832%) in Well #2.
- Ability to comingle production with Well #4 enhances operational efficiency.
- Completion of base site preparation for the processing plant.
- Ongoing positive outlook regarding Well #3.
- Financial risks due to fluctuating helium prices.
- Potential regulatory challenges impacting operations.
TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, Oct. 26, 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 completed additional work on Well #2 and has discovered helium and hydrogen in a lower portion of the previously perforated formation. The gaseous composition will permit the Company to comingle production from Well #2 with gas production from Well #4 in the McCauley Field.
Tests results from an independent laboratory:
Nitrogen | ||
Helium | ||
Hydrogen | ||
Co2 | ||
Hexanes | ||
Pentanes | ||
Methane | ||
Sulphur |
FINISHING & PROCESSSING PLANT
The base site prep has been completed and our engineering team is finalizing the sourcing, acquisition and construction for the operation plant. Definitive time frames for initial production will be announced upon completion of balance of supplier contracts being executed.
WELL #3 UPDATE
The Company continues to be optimistic after the appellate court hearing last week. The Company would urge caution to those who are trying to reach conclusions after listening to the video taped hearing as less than
ABOUT DESERT MOUNTAIN ENERGY
Desert Mountain Energy Corp. is a publicly traded exploration and resource company focused on the discovery and development of rare noble and hydrogen 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
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.
FAQ
What is the significance of Desert Mountain Energy's discovery in Well #2?
What are the test results for Well #2's gas composition?
What is the current status of Desert Mountain Energy's Well #3?
What is the company's plan for the processing plant?
What risks does Desert Mountain Energy face regarding its operations?
