U.S. OTC: DMEHF
FOR IMMEDIATE RELEASE
DESERT MOUNTAIN ENERGY GIVES UPDATE ON THE WEST PECOS SLOPE ABO GAS FIELD
Vancouver, British Columbia, September 5, 2023 — DESERT MOUNTAIN ENERGY CORP. (the “Company”) (TSX.V: DME, U.S. OTC: DMEHF, Frankfurt: QM01) From the President of the Company. The Company is excited to report its ongoing success in reassembling the helium processing facility in New Mexico. An additional dehydration unit will be added to the system, resulting in the removal of helium, inert gases, and heavy C-molecules. This will lead to a higher net price for the methane gas produced by the company. The elimination of these particles will have an immediate and substantial impact on the net price received by the Company for its natural gas.
The Company will continue replacing specific portions of flow lines and has implemented a scheduled maintenance program for the flow lines. The continued pigging of lines will help to lower flowing pressures from the furthest distant wells. Smaller gathering system compressors have been delivered, when coupled with line pigging will enable boosting production from the wells testing with elevated levels of helium. As stated in the press release on 08/16/23, the geologic team conducted independent gas analysis on specific individual wells, focusing on wells that showed higher levels of helium in previous tests over the past two years. The overall average gas composition of the tested wells, including C1-C10, Nitrogen, and Helium percentages, falls within the expected ranges based on testing and reported by the former operator. The Company plans to continue conducting additional independent gas composition tests on specific wells to further delineate opportunities to increase the overall helium throughput of the plant.
THE McCAULEY PROJECT IN ARIZONA
DME, in partnership with Beam Earth Ltd., is planning an airborne, low-altitude, geophysical survey over specific properties in Arizona. The properties to be surveyed include the McCauley Field, the Winslow South Field, and the O’Haco properties. By incorporating data from previously drilled wells, the survey aims to improve the accuracy of the final data sets by establishing additional correlations. The results of this high-resolution survey will be used to verify and, if necessary, redefine drill targets for each of the properties.
Pursuant to the appointment to the Board of Directors and head of the Audit Committee, the Company has set options for Mr. Michael O’Shea. The 300,000 options were set at a premium to Friday’s closing price, $0.44 per share vesting over one year with a five-year expiry date of 09/01/28.
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
Exec Chairman & CEO
For more information, contact:
Don Mosher, President & Director
E-mail [email protected]
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.