TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, Dec. 13,
2022 /CNW/ - DESERT MOUNTAIN ENERGY CORP.
(the "Company") (TSXV: DME) (U.S. OTC: DMEHF) (Frankfurt: QM01)
From the President of the Company. The Company is pleased to
announce that it has successfully completed its wildcat well on the
Gunnar Dome prospect. As previously announced, the Company made the
decision to test multiple zones in the well to have a better
understanding of the localized geology with regard to future drill
locations. A total of seven zones were perforated, tested, then
squeezed off and bridge plugs were set to ensure complete closure.
Many of the zones had gaseous mixtures which the McCauley
processing plant is not currently set up to extract. The two
sections which were perforated for production are within the same
geologic formation and are separated by an impermeable layer with
similar pressure. Both zones were perforated in a manner to stay
within an area of only connate formation water values. Water-free
or near-water-free Helium production is a continuing Company
goal.
The upper zone contained 96.5422% Nitrogen, 0.0063% CO2, and
2.8232% Helium with the balance being constituted by fractional
percentages of Methane, Ethane, Propane and Hexanes++. The lower
perforated zone contained 98.5523% Nitrogen, 0.0075% CO2, and
0.7183% Helium with the balance containing the same types of the
aforementioned fractional molecules. Most of the seven zones tested
contained a similar range of high Nitrogen and varied Helium
percentages, providing additional support to the Company's ability
to find Helium in a primary Nitrogen environment, staying away from
areas with elevated levels of CO2. The Company plans on initial
Gunnar Dome production being metered and then transported
approximately 24 miles to the McCauley Helium Processing Facility.
Throughput numbers will not be announced until production has been
established.
"Gas composition is extremely important when coupled with
water-free or near-water-free production and it can be just as
important as the Helium grade in the raw gas," said Robert Rohlfing, CEO of Desert Mountain Energy
Corp. "We are pleased that this well's specific gas composition,
when combined with the wells in the McCauley field, provides for a
relatively quick path to production. This well contains high levels
of Nitrogen combined with Helium, minimally fractional CO2 and
other noble gases. This makes the first plant much easier to
operate."
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-successfully-completes-gunnar-dome-well-301702089.html
SOURCE Desert Mountain Energy Corp.