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InvestmentPitch Media Video Discusses Desert Mountain's Announcement of Discovery of Helium of up to 1.36% Following Tests on Gas Samples from 3 Existing O & G Wells in Oklahoma - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2019) - Desert Mountain Energy (TSXV: D...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"InvestmentPitch Media Video Discusses Desert Mountain's Announcement of Discovery of Helium of up to 1.36% Following Tests on Gas Samples from 3 Existing O & G Wells in Oklahoma - Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - May 14, 2019) - Desert Mountain Energy (TSXV: DME) has announced positive results for the presence of helium following analytical tests performed on gas samples from three existing oil and gas wells in Seminole County, Oklahoma. These initial test results, with concentrations up to 1.3622% helium, from the company's Kight-Gilcrease Sand Unit oil field or \"KGSU\", were viewed by management as highly encouraging and suggest the potential for future development of helium production from this oil field.For more information, please view the InvestmentPitch Media \"video\" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"Desert Mountain\" in the search box.Cannot view this video? Visit:http://www.investmentpitch.com/video/1_55qfyqoj/Desert-Mountain-announces-discovery-of-helium-of-up-to-136-following-tests-on-gas-samples-from-3-existing-OG-wells-in-OklahomaThe three wells reporting positive results for helium were situated higher on structure in the KGSU. Three other wells lower on structure were also sampled but predictably did not return notable helium values, which is reflective of helium's tendency to rise in structure until it bumps up against an impermeable cap. Commercial viability of helium production from the KGSU will ultimately depend upon grade, pressure and size of the helium reservoir. Next steps would be drilling of several new shallow gas wells in the KGSU to test for the presence and concentrations of helium in the three zones above the Gilcrease Sands as well as to test the extent of the potential helium reservoir.The KGSU, which is not located within an environmentally sensitive area nor on a known Native American reservation, is substantially underlain by the Gilcrease Sandstone common source of oil supply, and comprises an area of approximately 884 acres. The KGSU project 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% helium. The Hugoton Fiel...