DESERT MOUNTAIN ENERGY HAS SIGNIFICANT SHOWS OF HELIUM ON GUNNAR DOME WILDCAT WELL
VANCOUVER, BC, Aug. 4, 2022 - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.
The Company is pleased to announce that it has encountered the largest number of helium and hydrogen showings from all wells drilled thus far, on its Gunnar Dome prospect in Arizona. Mass spectrometer readings during drilling operations clearly delineated multiple zones which had either helium, hydrogen or argon present. The Company is in the process of setting & cementing the production casing on the well. As is the Company's previously stated practices, it has set and cemented multiple strings of casing, (which exceed all state regulatory requirements,) to isolate and protect all water zones, irrespective of their individual mineral content. The Company further anticipates it will have a completion rig for the well available, at the end of August.
"Our geologic and drilling teams continue to successfully drill our targets, cement and set production casing," says Robert Rohlfing, CEO of Desert Mountain Energy Corp. "We look froward to bringing in the completion rig, sample and release the results of this well."
Consistent mass spectrometer readings and the corresponding flow results visible at the surface are extremely encouraging and await final definitive testing for specific perforated formation results.
The geologic data from this well confirms the hypothesis on the possible trapping mechanisms of both helium &, hydrogen within this specific geologic setting. This information will be applied by our team to other specific settings. It further expands upon the previously held theoretical understanding of helium and hydrogen generation. It is the opinion of the Company, (based on confidential and proprietary geologic drilling data,) that the acreage controlled by the Company on the corresponding structures will ultimately confine the water-free commercial production areas for this geologic setting to the leases currently held.
With this press release, the Company will be in communications with its partner in hydrogen processing to explore where and how they can meld this discovery into other long-term ESG developmental plays. It is the Company's position to monetize its newly discovered hydrogen assets, whilst developing the long-term opportunities which management feels may be the most advantageous to shareholders.
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.
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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.
SOURCE Desert Mountain Energy Corp.