Desert Mountain Energy Corp V.DME

News

[fausthimself]

https://desertmountainenergy.com/desert-mountain-energy-announces-agreement-to-provide-consulting-for/?fbclid=IwAR048gbzEx4hUd2LmJO3ARAb4DSbVgf13W3iGYdwINIec5oCANSrW3v9B5A

[Buyhigheatchips]

"For those efforts the Company will receive a carried override position on any projects without any financial input. Likewise, if during drilling operations for Earl Resources Ltd., helium is discovered, then Earl Resources Ltd. will have an equivalent carried position on any production by the Company." What is a carried override? Kind of sounds like a royalty. 

[Blueshoes]

Trying to make sense of this... seems okay and not okay all at once... thoughts?

[tylerod1]

I couldn't parse anything from the lack of details in the statement, but i did a little light reading on domal salt energy storage. Interesting stuff.  https://www.forbes.com/sites/mitsubishiheavyindustries/2020/03/13/in-utah-hydrogen-and-a-massive-salt-dome-are-winning-the-west-for-renewable-energy/?sh=1368a1fc5c52

[Jimmyjohn1]

This sounds like a good agreement for DME.

[Deerock]

Do we know exactly what a "carried override position" is? I've tried to google the term but the only thing that came up was the recent DME news release.

[Buyhigheatchips]

I'm looking forward to the next YouTube recording to clarify but really they should just use the English language. Yes, even in news releases!

[GoldenArm]

Yeah me too. Last 2 NR are not thrilling or informative. Carried Override sounds like that the cost of drilling is covered and if they hit gas they get a cut of profits when they are generated.

[Ebenizer3]

the term carried means that earl is paying all the operating costs as far as the storage is concerned, and if they find helium than dme is paying for the operation for helium. would be nice if they gave us a #. Would even be nicer if dme produced some helium. Hard to figure after #1 hit 24 thousand mcf @ 7%, and a year later still not producing. There's something to be said about being the