Vancouver-based Desert Mountain Energy Corp. (TSX-Venture:DME) is on a buying spree of late. Monday brought news that the junior energy firm has acquired more than 3,000 acres in Eastern Arizona’s Holbook Basin. The lots were under lease for helium, oil and natural gas and purchased from the U.S. Department of the Interior.
The leases look to be rich in helium, as well as in oil and natural gas, and raise the total acreage to within sight of 40,000 acres. Desert Mountain started this land-acquisition late last year. They bring to seven the total number of distinct areas over which leases have now been secured by the Company in the Holbrook Basin.
By noon ET, shares in DME were trading at 22.5 cents, unchanged from Friday’s close, but near its 52-week high of 25 cents a share. Volume soared to over 194,000 shares.
