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DESERT MOUNTAIN ENERGY PROVIDES OPERATIONS UPDATE
DESERT MOUNTAIN ENERGY PROVIDES OPERATIONS UPDATE Canada NewsWire TSX.V: DME ...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"\n \n \n \n DESERT MOUNTAIN ENERGY PROVIDES OPERATIONS UPDATE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSX.V: DME\n \n U.S. OTC: DMEHF\n \n \n Frankfurt\n \n : QM01\n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 31, 2023\n \n \n /CNW/ -\n \n DESERT MOUNTAIN ENERGY CORP. (the \"Company\")\n \n (TSXV: DME) (U.S. OTC: DMEHF) (Frankfurt: QM01)\n \n From the President of the Company.\n \n The Company wishes to apprise shareholders that it has continued to complete planned work as previously outlined, per the use of proceeds from the last financing. \"The Company is in an excellent financial position,\" said\n \n Robert Rohlfing\n \n , CEO of DME. \"There is approximately\n \n $19.7 CDN\n \n million cash on hand with significant percentages tied up in various guaranteed interest-bearing accounts.\"\n \n \n The wells feeding the McCauley Helium Processing Facility were swabbed down with no formation water being detected. The water removed showed signs that it was from drilling and completion operations and not from the targeted formations. A full-size, helium gas tube trailer is on-site for production rather than the smaller tanks for run-up testing.\n \n \n As previously outlined in the use of proceeds, the Company has acquired additional heavy trucks and additional trailers. Trailers to haul the Company's produced raw crude gases are being modified to haul crude gas from our other wells to the McCauley Helium Processing Facility. The Company expects to take delivery of a workover rig, capable of swabbing and light workover functions, by the end of\n \n June 2023\n \n . These specific vehicles were selected to help optimize and reduce the wait time to accomplish specific tasks. Our trucking company continues to improve usage performance. The signing of a long-term agreement to haul heavy gas field compression units for a major company in the four corners region and\n \n Colorado\n \n is significant.\n \n \n Our hydrogen drilling partner was encountering market conditions slowing their financing...