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Desert Mountain Energy Files Permit Applications to Drill Two Wells on its Oklahoma Kight-Gilcrease Property
(via TheNewswire) August 14, 2019 - TheNewswire - Vancouver, British Columbia -- DESER...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"Desert Mountain Energy Files Permit Applications to Drill Two Wells on its Oklahoma Kight-Gilcrease Property(via TheNewswire)\n \n \nAugust 14, 2019 - TheNewswire - Vancouver, British Columbia -- DESERT MOUNTAIN ENERGY CORP. (the \"Company\") (TSXV:DME) (OTC:DMEHF) (Frankfurt:QM01)) is pleased to announce that it has now filed two separate applications with the Oil & Gas Conservation Division of the Oklahoma Corporation Commission in Oklahoma City to acquire drill permits for two new primary wells in the Company's Kight-Gilcrease Sand Unit oil field in Seminole County (the \"KGSU\"). The two wells will be simple, vertical wells drilled to a depth of approximately 2950 ft each from sites located at an altitude of about 887 ft, relatively high on the structures which are being targeted for their potential to host reservoirs of helium, oil & gas. They are designed to test five stratigraphic zones known to exist in the KGSU, namely the Calvin, Senora, Earlsboro, Booch and Gilcrease Sands, which are located respectively at 1170, 2490, 2620, 2670 and 2820 ft. Management anticipates that the permit applications will be approved shortly and does not anticipate any issues or delays. Drilling will commence shortly after the permits are granted, subject to drill rig availability.\n\n\n \n\nThe Company previously announced (see PR dated May 13, 2019) that analytical tests performed on gas samples from three existing oil & gas wells on the KGSU returned positive results for the presence of helium, with concentrations up to 1.3622% He. These test results are consistent with helium concentrations being produced from other U.S. natural gas fields in Kansas, Oklahoma and Texas. These encouraging results led management to conclude that a drill program to evaluate the helium potential of the KGSU should be undertaken as soon as practicable. Accordingly, management has devised a two-hole drill program designed to test the five zones noted above for helium, oil & gas. While the KGSU remains a strong target for enhanced secondary water flood production of oil from the Gilcrease zone, helium now adds a new dimension to the property.\n\n \n \nHelium is the second lightest element (next to hydrogen) and has the smallest molecular size of any element on earth. Accordingly, it defies gravity and tends to rise to the surface of the earth's ...