Desert Mountain Energy Stock Price, News & Analysis

Desert Mountain Energy Corp. has announced the acquisition of five heavy haul rigs to enhance the movement of drilling and plant processing equipment. The investment of over USD 700,000 for rig mobilization illustrates rising costs, with expenses per well increasing from $26,000 to $164,000 over 18 months. This strategic purchase aims to mitigate inflation and supply chain disruptions while generating additional revenue through equipment contracts. The company is also finalizing the establishment of a separate entity for the rig operations, further solidifying its financial position.

Desert Mountain Energy Corp. (DMEHF) announced mobilization for cased hole logging on Wells #5, #6, and #7, utilizing advanced tools to enhance data correlation from various gas readings. The completion rig is expected to be on-site at the McCauley Helium Field by mid-April 2022. CEO Robert Rohlfing expressed confidence in the team's progress, aiming for production readiness within the year. The company focuses on helium and noble gases, essential for renewable energy sectors.

Desert Mountain Energy Corp. (TSXV: DME, OTC: DMEHF) provided a corporate update highlighting progress toward production amid a global helium shortage. Key issues include the loss of 25% of helium supply due to a fire in Russia, suspension of production at the Amarillo plant, and supply problems from Algeria and Qatar. The company has set casing in three wells and successfully overturned a court case affecting its operations. With over $18 million in treasury, DME aims for positive cash flow. Upcoming activities include completion of the gathering system and testing of wells by the end of April 2022.

Desert Mountain Energy Corp. (DMEHF) received a significant legal victory as the Arizona Court of Appeals unanimously ruled in its favor, vacating a prior ruling and remanding the case. The Company expressed appreciation for its legal team's efforts and indicated that further announcements regarding Well #3 and related matters will follow. This positive outcome supports Desert Mountain Energy's focus on exploring and developing critical resources like helium and hydrogen, vital for renewable energy and high-tech industries.

Desert Mountain Energy Corp. (DME) announced the successful completion of production casing for Well #7 in the McCauley Helium Field, identifying multiple helium zones. The well recorded excellent bottom hole pressures, indicating a promising ratio of sulfur-free hydrogen and helium. Following the completion of Wells #4, 5, 6, and 7, the company is poised for further exploration, with a completion rig scheduled to begin operations in 3 to 4 weeks. The company continues to focus on critical elements for renewable energy and high technology industries.

Desert Mountain Energy Corp. (TSX.V: DME, OTC: DMEHF) has been honored with the title of Best Helium Exploration and Development Company – North America by the Canadian Business Awards 2022. This recognition highlights the company's commitment to innovation in the helium industry amidst a critical gas shortage. Additionally, the company has commenced drilling Well #7 in the McCauley Helium Field, with forthcoming updates on total depth. The firm remains focused on the exploration and development of helium and other critical gases essential for high-tech industries.

Desert Mountain Energy Corp. (DME) announced the completion of production casing for Well #6 in the Granite Formation, where helium was detected. The well exhibited multiple helium zones, similar to Wells #4 and #5. Drilling teams aim to establish commercial helium production in North America. The rig is set to move to the next site within the McCauley Helium Field. The company focuses on helium, hydrogen, and noble gas exploration and production, vital for renewable energy and high-tech industries.

Desert Mountain Energy Corp. announced the discovery of a hydrogen field in Arizona, confirming three edges of the field through successful drilling with wells #4, #5, and #6. With a total drilling depth of approximately 4,000 feet, the company achieved significant geological insights, identifying multiple hydrogen-bearing zones, including a high-quality zone of 32 feet without harmful elements. DME is moving forward with innovative drilling techniques while prioritizing environmental protection. Current hydrogen production methods are costly at approximately $12 per gallon, in contrast to gasoline prices around $3.

Desert Mountain Energy Corp. announced the successful completion of drilling operations for Well #5 in the McCauley Field, Arizona, reaching a total depth of 3,925 feet. This marks the company's fifth successful well, with significant helium structures identified, confirming its exploration strategies. CEO Robert Rohlfing indicated plans for an additional Well #7 following the completion of Well #6, aiming to enhance future productivity at the McCauley Finishing Facility in Q3 2022. The company remains focused on exploring critical elements like helium and hydrogen essential for renewable energy.