TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, Feb. 28, 2022 /CNW/ - DESERT MOUNTAIN
ENERGY CORP. (the "Company") (TSXV: DME) (U.S. OTC:
DMEHF) (Frankfurt: QM01) From the President of the
Company.
Desert Mountain Energy Corp. (DME) is pleased to announce that
it has defined three edges of a Hydrogen field with wells #4
(11-1), #5 (1-1), #6 (10-1). The Company has set and cemented
surface and intermediate strings of casing and is in the process of
finishing up drilling in the McCauley field. Based on information
garnered from drilling operations thus far, the Company is planning
on setting and cementing additional production casing to total
depth. The well will be drilled to a total depth of approximately
4,000' into the top of the granite formation.
"Our excellent geologic and drilling team is meeting and hitting
our objectives in this well. The company is now six for six in
drilling wells in Arizona. We had
originally seen multiple hydrogen bearing zones in wells #4 and #5.
In well #4 we were not able to sample the hydrogen other than with
the mass spectrometer. In well #5 & #6 we were able to see the
full spectrum of all known elements and were able to decern that in
three hydrogen bearing zones," says Robert
Rohlfing, CEO of DME. "The thickest is approximately 32'
thick of extremely high quality without the presence of sulfur or
other elements which would create detrimental issues with future
production. Well #4 established the SE corner of the field, well #5
established the eastern edge of the field and well #6 established
the SW corner of the field. Our internal geographic modelling has
thus far, been within 2' plus or minus on all helium and hydrogen
bearing zones. Therefore, the Company feels that its current
private and state leaseholds encompass all of the water-free
production areas within the inferred nine to ten square miles of
this field for both helium and hydrogen." Water-free production of
helium and hydrogen is a key component of long-term operation
costs.
The current production of hydrogen comes from steam-methane
reforming, electrolysis and bio-mass. Our discovery of basically
clean hydrogen in situ makes DME a leader in this quickly evolving
green business. "I am extremely proud of the great strides our
engineering, drilling teams and our cementing contractor have made
in respect to developing specific techniques using safe, food-grade
and higher components for cementing casing in one pass," says
Robert Rohlfing, CEO of DME. "We
strive to be the successful innovators of our industry. The
company is moving forward, innovating and developing responsible
drilling techniques in a cost-effective and efficient manner. This
serves to protect the surface and aquifers for future generations
of Arizonians. In that spirit, we have chosen to work with
the various state agencies to develop guidelines, based on our
successes in varied downhole environments, then pass on critical
information to any company drilling any type of well in
Arizona so that the water
resources can be protected." The company will provide additional
information on this well after the final casing is set, cemented
and the rig moved to the next location.
Hydrogen is much more efficient than gasoline, but it's four
times more expensive. Current pricing for an equivalent gallon of
hydrogen compared to a gallon of gasoline is approximately 4 to 1,
or $12 per gallon of hydrogen to
$3 per gallon of unleaded 87 octane
gasoline. (Source, calmatters.org).
The Company has transferred its interest in the Oklahoma oil & gas properties to another
company for which the company is not required to expend any further
monies and will receive an overriding royalty on all future
operations from the KGSU.
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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content:https://www.prnewswire.com/news-releases/desert-mountain-energy-discovers-hydrogen-field-in-arizona-301491507.html
SOURCE Desert Mountain Energy Corp.