Desert Mountain Energy Corp. [DME-TSXV; DMEHF-OTC; QM01-FSE] reported that the Arizona Oil & Gas Conservation Commission has granted the permit to drill another exploratory helium well in northeast Arizona. This well is located approximately 30 miles west of the first two successful wildcat helium wells the company drilled and completed last year.
These wells are all situated on a known anticlinal feature which the company ran proprietary geophysical studies pertinent to locating specific trapping mechanisms required to have commercial quantities of helium.
The company has contacted the drilling contractor and is now in queue for the drill rig in addition to the open hole logging and cementing companies. Desert Mountain anticipates having the drilling company on site in seven to ten days and anticipates drilling three new wells prior to undertaking completion procedures.
Desert Mountain will be adding additional staff as it begins its planned work on these and other wells and their possible associated production.
The company is primarily looking for elements deemed critical to the green energy and high technology industries.