- Desert Mountain (DME) has achieved 3.511-per-cent helium concentrations in offset wells 5 to 7
- The figure, higher than Discovery Well 4, will have a positive impact on the company’s profitability
- It is building North America’s first solar-powered helium processing facility using hydrogen as a backup power source
- Desert Mountain Energy is primarily focused on the exploration, development and production of helium, hydrogen and noble gases
- Desert Mountain (DME) is up by 17.87 per cent trading at $3.43 per share
Desert Mountain (DME) has achieved 3.511-per-cent helium concentrations in offset wells 5 to 7.
The average helium spot tests on the offsets were almost three times those of Discovery Well 4.
CO2 for the offsets averaged 0.0201 per cent with the balance of the gas being nitrogen.
The company has combined the four wells in preparation for production from the McCauley Helium Processing Facility, which will be North America’s first to be solar-powered using hydrogen as a backup power source.
It will also process a pay zone with over 4 per cent helium in Offset Well 5 in the Rohlfing Helium Field.
“We are thrilled that these wells increase the helium average significantly above Discovery Well 4’s results,” said Robert Rohlfing, Desert Mountain’s CEO. “This will make the wells much more profitable.”
Desert Mountain Energy is primarily focused on the exploration, development and production of helium, hydrogen and noble gases for technology and renewable energy.
Desert Mountain (DME) is up by 17.87 per cent trading at $3.43 per share as of 11:23 am EST.