TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, Sept. 16,
2024 /CNW/ - DESERT MOUNTAIN ENERGY CORP. (the
"Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From
the President of the Company. Desert Mountain Energy Corp. is
pleased to announce that the separation of commercial volumes of
helium from a complex natural gas stream has been achieved. The
processing plant has been recirculating and enriching helium with
the end product going into an end user's tube trailer. The facility
has been in commercial operation following the resolution of
numerous issues by the DME team during the start-up phase.
Current production revenue is now expected to cover the overall
corporate G&A but will not be reflected in the September 30, 2024, audited year- end financials.
The Company anticipates a gradual rise in sales volumes and
revenue, with a current emphasis on well workovers and reducing the
overall small percentage of produced water.
During the facility's relocation from Arizona, an AI component was integrated.
Currently, the AI is undergoing training through data collection
while commercial processing remains ongoing. Data points are
essential for the system to learn and function effectively as more
wells are brought online. Each well possesses distinct chemical
compositions that the plant must adapt to. The plant is nearing
autonomy, requiring minimal human intervention for operation.
The geological team continues to review downhole data to
determine the most viable wells for increased helium production.
They are also examining regional data to enhance the understanding
of geological controls and pinpoint locations with the potential
for higher helium grades. Certain wells are showing increased
levels of hydrogen, prompting a need for further investigation to
determine the underlying causes of these occurrences.
ABOUT DESERT MOUNTAIN ENERGY
Desert Mountain Energy Corp. is a publicly traded resource
company primarily focused on the exploration, development and
production of helium, hydrogen, natural gas and condensate. The
Company is focused on helium extraction from different raw gas
sources in an environmental and economic manner supplying
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.
