Canada continues to be a land full of energy, and with all the companies competing for supremacy in the sector, and not just in gas and oil, one would think another discovery by another company would not be all that remarkable. But one Vancouver-based firm is trying to put the lie to that.
On Tuesday, Desert Mountain Energy Company (TSX-Venture:DME) enthused that completion and testing operations were underway at its initial two wildcat helium wells in Arizona's Holbrook Basin.
Tuesday’s news released exulted that both wells were successfully drilled in June and July with production casing set. Earlier this summer brought word that both wells encountered significant gas flows from multiple zones aggregating over 180 ft. in each well, with helium and other gaseous content yet to be determined.
The completion and evaluation procedures include logging of the cased holes, perforating the casing at select locations corresponding with anticipated pay zones, testing the pressure and flow rate of gas from the perforations, and gas sampling to evaluate full gaseous content. Industry best quality control and safety measures will be adhered to, with gas samples sent to an independent third party analytical laboratory.
DME anticipates that the completion and testing work will be complete with results available in the next few weeks.
DME admitted volume wasn’t the hottest, only about 7,600 shares, but the price surge was – four cents, or 5.9%, to 72 cents.
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