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Desert Mountain Energy Testing Helium Potential of its Kight Gilcrease Sand Unit Oil & Gas Project In Oklahoma
(via TheNewswire) April 16, 2019 / TheNewswire / Vancouver, British Columbia -- DESERT M...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"Desert Mountain Energy Testing Helium Potential of its Kight Gilcrease Sand Unit Oil & Gas Project In Oklahoma(via TheNewswire)\n \n \nApril 16, 2019 / TheNewswire / Vancouver, British Columbia -- DESERT MOUNTAIN ENERGY CORP. (the \"Company\") (TSX.V: DME) is pleased to report that it is now conducting geological studies and gas sampling to determine the helium potential of its Kight Gilcrease Sand Unit oil and gas project in Seminole County, OK (the \"KGSU\"). The KGSU is situated in an area of Oklahoma which has been host to numerous helium bearing gas wells, with commercial production grades typically ranging from 0.6% to 1.4% He. While the KGSU\nremains a strong target for enhanced secondary water flood production of oil, management believes the property also offers good potential for helium production. The Booch, Senora and Earlsboro Sands, from 2160 ft to 2728 ft, are regarded as highly prospective with a dense lime or anhydrite cap and close proximity to known or indicated fault structures. The Company is presently testing gas from existing wells on site to determine presence of helium. Commercial viability will ultimately depend upon grade, pressure and size of any helium reservoir. Results are expected shortly.\n\n\n \n\nTargeting work and permitting is continuing at the Company's Heliopolis Helium Project in Arizona's Holbrook Basin, with good progress to date. Heliopolis remains the Company's flagship project and management is looking forward to its upcoming drill program to test three targets in different areas in the Basin. \n\n \n \nBy way of background, The KGSU was permitted and approved by Oklahoma Corporation Commission (\"OCC\") by Order #375263 dated July 19, 1993, as an enhanced oil recovery project primarily utilizing water-flood secondary recovery operations, in an administrative proceeding which consolidated and unitized all working and royalty interests in the project. The KGSU has had historic production estimated at 1,690,240 BO by the OCC and presently has 7 wells on site, one of which is operational. The oil produced is a light sweet crude that varies from 34 API to 43 API gravity.\n\n \n \nThe KGSU comprises an area of approximately 883.7 acres, which is substantially underlain by the Gilcrease Sandstone common source of oil supply. The KGSU leases are located 8 miles S of Wewoka directly astride St...