Desert Mountain Energy Corp V.DME

AOGCC Update

[HeliumHigh]

For those interested, DME's request for extending tempory abandonment status for Wells 1 and 2 to March 31, 2022 was approved today.  Jessica Davey (VP of Land for DME) was in attendance but did not speak.  It approving DME's request, it was explained that DME had communicated that it was facing 40 week lead time for key items needed for production at Wells 1 and 2, plus the additional time needed for delivery and assembly.  In discussion, the Commission noted that equipment delays were quite common in the industry right now.  

I assume DME wanted to have a significant buffer - as March 31, 2022 is really far out.  FYI, from other discussion at the meeting, it appears DME would need to approach the Commission again for approval to access/test a well that is in temporary abandonment status (as Wells 1 and 2 will be for the foreseeable future).

In summary, there really weren't any significant new DME updates from the meeting - other than the actual approval of its extention requests for Wells 1 and 2 of course.  The extended timeline for production at that gas field by DME was already discussed by Robert in the Ellis Martin interview earlier this morning.

[ScaleofSale]

Thank you HH. I have taken some time to process all the information and feel this correction was inevitable. I think even with good results, the production delay information would have caused a sell off eventually. I appreciate that RR was less speculative in these latest interviews and DM has kept his mouth shut.  I think the sp will languish in this area or lower for some time, so will

[canuckktrader]

I'm really sorry guys but I think some people need to wake up a bit here, this is the ultimate spin going on to try and coverup some really bad wells. From past experince in drilling Oil and Gas wells, if you have a economical well there is no way you would apply for an Abandonment permit just because you need to wait 12 months to get equipment. This is total and utter nonsese. Cap your

[Buyhigheatchips]

Lol. Can't even say nice try.

[Jimmyjohn1]

They applied for temporary abandoment not an abandonment permit. Which would basically means "suspend" the Well. They have to plug it with something temporarily that can be removed. Doesnt mean they have to come back and redrill the thing over again.

[canuckktrader]

LOL plug it with something? Other than concrete? Its cheaper to put a well head on than fill a hole with concrete, as helium escape EVERYTHING what is it they are plugging it with to keep the helium trapped?  Mark my words this well that is being abanonded or suspended or whatever it is you guys want to believe is never going to see the light of day, there will never be any production come

[Jimmyjohn1]

canuckktrader, You seem to not know what you are talking about.  I'm not even sure why you're in this chat.  Seems to me you're here just to spread misinformation.      Below is the regulations from the Arizona Oil and Gas Commission on temporary abandonment of Wells.   Desert Mountain Energy has to provide proof to the commision that these Wells will

[madmoney101]

Thanks thats good to know , March 15 2023 was what was requested as per the Publlic meetings Notice , not 2022 as you wrote .. https://static.azdeq.gov/pn/aogcc_091721.pdf  thanks for the info..

[HeliumHigh]

You are correct, MM - thanks for catching that typo.  Shockingly, March 2022 is actually not very far away now - unless one is waiting for initial revenues to commence of course.  It's all a matter of perspective I guess.

[madmoney101]

I really like the company but if anyone is looking for revenues to start by first quarter next year they are living in fantansy land, There are a lot of other ways to add value to the company though , and it seems they are getting a good bang for the money they do spend , THATS if one can beleave what is said in interviews , myself I like to see the balance sheet grow , dont tell me you hit pay

[madmoney101]

if anyone would like some light reading heres how royalties , drawdowns , farm ins ect ect as far as the irs is concerned , some fun stuff , a couple of good jokes also. Im  just not that up on how the Arizona tax codes work though.. https://www.irs.gov/irm/part4/irm_04-041-001#idm140692455327408

[Ebenizer3]

sorry temporary abandonment, 9/17, temporary, p&a just a play on words lol. u can re-enter a 50 yr old well if u like. iacx energy