DESERT MOUNTAIN ENERGY CORP. From the President of the Company. The Company is pleased to announce that it has signed a Joint Operating Agreement (JOA) with Beam Earth Ltd. The JOA initially encompasses the shallow hydrogen zones found while drilling in the McCauley helium field. The agreement provides for the Company’s continued ability to remain focused on its helium prospects, whilst utilizing Beam Earth ltd. expertise in hydrogen. Furthermore, this agreement provides the basis for opportunities for other JOA’s with Beam in jurisdictions outside of Arizona.
“The cooperation of our technical teams provides a like-minded approach to exploration, development and production of helium and the emerging technologies surrounding the optimization of lower cost, naturally occurring hydrogen,” says Robert Rohlfing, CEO of Desert Mountain Energy Corp. “We look forward to working together with Beam Earth on the complexity of the geological settings and specific geophysical options required to be able to repeatedly duplicate successful exploration.”
The Company has tested two zones in the Gunnar Dome well and found helium. The gaseous composition of that specifically tested interval would not be compatible for production with the planned McCauley Helium Processing Facility. Therefore, the Company is scheduling the rig and associated equipment to come out, isolate the tested zone and complete the well into another zone where helium was seen on the mass spectrometer without the inclusion of other noble gases. DME will advise upon completion of that work.
The Company would also advise that it has filed a counterclaim for damages in regards to the original injunctive action by the City of Flagstaff. The Company will only comment as appropriate in this matter. A copy of the filing may be found online, at the Coconino County Clerks’ office.
Desert Mountain Energy Corp. is a publicly traded resource company primarily focused on exploration, development and production of helium, hydrogen and noble gases. The Company is primarily looking for elements deemed critical to the renewable energy and high technology industries.