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Desert Mountain Energy Acquires Additional 3040 Acres of Strategic Helium Leases in Arizona's Holbrook Basin from the U.S. Bureau of Land Management
(via TheNewswire) October 15, 2018 / TheNewswire / Vancouver, British Columbia - D...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"Desert Mountain Energy Acquires Additional 3040 Acres of Strategic Helium Leases in Arizona's Holbrook Basin from the U.S. Bureau of Land Management(via TheNewswire)\n\n \nOctober 15, 2018 / TheNewswire / Vancouver, British Columbia - DESERT MOUNTAIN ENERGY CORP. (the \"Company\") (TSX.V: DME) is pleased to announce that it has now acquired an additional 3040 acres under lease for helium, oil & natural gas in the prolific Holbrook Basin of Eastern Arizona. The leases were acquired at auction from the Bureau of Land Management of the U.S. Dept. of the Interior (\"BLM\"). The new leases are situated in Navajo County, Arizona in relatively close proximity to the prolific Pinta Dome Field, which with related nearby fields produced in excess of 9.2 Bcf of helium gas grading 8-10% He from 1961-1976. This now brings the Company's total acreage under lease in the Basin to 39,742 acres when added to the 36,702 acres already under lease from the Arizona Department of Land. The Company initiated its exploration and land acquisition program in the Basin in the 4th quarter of 2017. \n\n \n \nThe new leases are highly prospective for helium as well as oil & natural gas. They bring to seven the total number of distinct areas over which leases have now been secured by the Company in the Holbrook Basin. This latest tranche of leases adds acreage to the Company's existing Woodruff East Area as well as establishing a new area called Pinta Dome North. The leases are characterized by anticlinal features, monoclines and other geological structures with surface expression, together with reservoir rocks and salt and anhydrite caprocks, giving them potential to serve as trapping mechanisms for commercially significant helium reservoirs.\n\n \n \nApproximately 2400 acres of the new leases, comprising BLM Lease Parcel ID AZ-2018-09-0386, are in Navajo County in an area called the Woodruff East Area, bringing to 8828 acres the Company's aggregate lease holdings in this area. It is situated in the NE corner of the Holbrook Basin approximately 12 mi S-SW of the Pinta Dome Field. These new leases directly offset two historic blowout gas wells, NMA #10 and NMA #37, providing the Company with the next permitted well locations under applicable regulations. The reported pressures encountered on each of these two blow out wells is consistent with the press...