Helium is an unreactive element, and is therefore essential in producing fibre optics and semiconductors.
Desert Mountain Energy Corp. (TSX-Venture: DME) focuses on exploration, development and production of helium, hydrogen and noble gases—elements deemed critical to the renewable energy and high technology industries.
The company has received a permit for its first offset well, situated where the porosity and permeability are expected to be highly productive in multiple formations, according to the firm’s press release. DME expects the rig to be mobilized and the well spudded by the end of this week.
DME was trading at $2.25 in early afternoon trade.
