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Desert Mountain Energy Corp V.DME

Alternate Symbol(s):  DMEHF | V.DME.WT

Desert Mountain Energy Corp. is a Canada-based 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 economical manner by supplying elements deemed critical to the renewable energy and high technology industries. Its Holbrook Basin Helium Project comprises more than 1000,000 acres of key helium prospects under lease. Its West Pecos Slope Abo Gas Field and gas gathering system is located in Chaves County, New Mexico. The West Pecos Gas Field encompasses a vast infrastructure, including 188 wells, over 50 miles of gas collection lines, and 77,000 acres of oil and gas leases. Its secondary focus is developing hydrogen assets located within their helium fields.


TSXV:DME - Post by User

Post by Biloxibuzzon Jul 05, 2021 5:40pm
353 Views
Post# 33496641

I think we may have a well (#4)

I think we may have a well (#4)Thanks HH for the update from the State. It seems to me that the fact that DME has not applied for another permit means they are well on their way to solving whatever issues are slowing the completion of well #4. If well #4 was a bust, I believe they would have pulled a permit for well #5 and continued onward. There would be lost time  and drill rig costs but the lost production from well #4 would be replaced by production from well #5. We would still have 3 wells producing in the near term. (Although near term might not be in management's vocabulary.) I will speculate that DME goes into production with wells #1, #2 and #4. That gets us to a re-rating as a producer the quickest. Maybe well #3 backs into this equation if the legal problems are solved before we start producing. 
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