- Desert Mountain Energy (DME) has signed an agreement to purchase raw or crude helium gas from PetroSun
- PetroSun is an Arizona-based company with over 250,000 acres of land in the state
- The agreement is part of Desert Mountain’s strategy to diversify gas inputs as it builds up its processing facilities
- Desert Mountain Energy is primarily focused on the exploration, development and production of helium, hydrogen and noble gases
- Desert Mountain Energy (DME) is up by 1.24 per cent trading at $2.44 per share
Desert Mountain Energy (DME) has signed an agreement to purchase raw or crude helium gas from PetroSun.
PetroSun is an Arizona-based company with over 250,000 acres of land in the state. It trades on the OTC pink sheets and is currently completing its newest well.
Pricing will be set based on market pricing conditions, available processing capacity and the chemical composition of the gas at the time of purchase.
The companies have also agreed to collaborate on future exploration for helium and hydrogen, where feasible for seismic testing and other geophysics.
Desert Mountain remains focused on pursuing gas purchase agreements that conform to its stated operational guidelines. It intends to build and operate additional plants, based on its primary McCauley Helium Processing Facility in Arizona, to process a wide variety of noble gas mixtures from third-party wells.
“We look forward to working with PetroSun in their areas along with maximizing, when possible, our existing trucking, personal and processing facilities,” stated Robert Rohlfing, Desert Mountain’s CEO. “In our discussions with the CFO and President, they were desirous of looking for ways to adapt some of our drilling and completion procedures to ensure the protection of the environment going forward.”
Desert Mountain Energy is primarily focused on the exploration, development and production of helium, hydrogen and noble gases for the renewable energy and high technology industries. The company holds over 100,000 acres of land in Arizona, one of the world’s most prospective locations for helium.
Desert Mountain Energy (DME) is up by 1.24 per cent trading at $2.44 per share as of 9:47 am EST.
