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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 HeliumHighon Mar 31, 2023 8:41am
586 Views
Post# 35371277

Email Update from Don re MPF optimization status

Email Update from Don re MPF optimization statusA poster over at the ceo board shared this email from Don:  "Rob mothballed the wells so we need to bring a completion rib back on 3 of the wells and do 1 to 3 days of work on each one. Hopefully we get it in the next week or so and get them flowing then we start the optimization program. While the financing was open all work was brought to a stand still. ". Obviously this was a bit of a surprise. I thought I should share it here right away was well. As appropriately commented by Bertie ".This information regarding the need for a completion rig to start the optimization process is why shareholders get (rightly) upset about DME’s communication. This is hugely relevant news to shareholders that are purchasing stock, and who are of course basing their trades on the advertised timings/milestones provided by the company. DME announced over two weeks ago that the plant was complete, and that sales had been initiated. Management have conducted multiple interviews, including this week, and yet they’ve made no mention of this requirement for the completion rig. Meanwhile, their presentations still mention Q1 for the optimization process to start. There’s no excuse for not telling shareholders about this needed step. ". I still have confidence in RR's ability to execute, but they must do better at communication. What is the value to investors of doing interviews to provide visibility into what is happening if you omit relevant info like this?  It may seem like a small thing to DME management in the scheme of things, but it undermine confidence. If they want to trade on a US exchange one day, they will need to change their ways. 
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