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Bullboard - Stock Discussion Forum Desert Mountain Energy Corp V.DME

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

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... see more

TSXV:DME - Post Discussion

Desert Mountain Energy Corp > my question about extensive testing of well #4
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Post by Margin321 on Aug 25, 2021 11:32am

my question about extensive testing of well #4

I am glad they are getting a lot more info on the different zones in well #4 and trying to confirm that it is a discovery  (with reserves, so far the "discovery" word only appeared in the headline of a news release - it is technically a "helium show" because no wireline, no DST - and it is certainly not a commercial discovery without pressure testing, reservoir definition, proven reserves. 

BUT, if they were looking for a fast path to production in 4th quarter 2021 (that is just not on track to happen), then why didn't they do pressure testing (draw down and build up pressures) and other testing on well 1 (which flowed 24 mmcf of 7% helium) - so they could determine what rate it could be produced, establish some reserves, and start the engineering to move toward some initial production. Those numbers on well #1 seemed incredible to me and were the main reason (the other being past history of 15 years of helium production in Holbrook basin) that I decided to invest in DME.
Comment by madmoney101 on Aug 27, 2021 11:02pm
I totaly agree , I cant see DME doing much production in 2021 , but there is a lot happening , I hope to god to see some form of reserves hit the balance sheet if not this quarter at lest in september at years end. Also I see where oral arguments have been granted in the Flagstaff vs Desert Mountain Energy case , hopefully that will be wraping up before to long.. But as you say you dont have ...more  
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