InvestmentPitch Media Video Discusses Desert Mountain and its work to Determine the Helium Potential at its Kight Gilcrease Sand Unit Project in Oklahoma - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2019) - Desert Mountain Energy (TSXV: DME) is conducting geological studies and gas sampling to determine the helium potential at its oil and gas project in Seminole County, Oklahoma. The Kight Gilcrease Sand Unit 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.
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The KGSU comprises an area of approximately 884 acres, which is substantially underlain by the Gilcrease Sandstone common source of oil supply. It is not located within an environmentally sensitive area or on a known Native American reservation.
The oil-bearing pay zone was estimated by the Oklahoma Corporation Commission to be from 10 feet to 40 feet in width and to occur at a subsurface depth of approximately 2,726 feet to 2,810 feet. While the KGSU remains a strong target for enhanced secondary water flood production of oil, management believes the property also offers good potential for helium production.
Irwin Olian, President and CEO, stated: "Whilst we have been advancing our Heliopolis Project in Arizona as quickly as possible and look forward to drilling in the coming months, we saw an opportunity to increase shareholder values by examining the helium potential of our Kight Gilcrease property in Oklahoma. Accordingly, we are now testing wells on that property for helium content and are optimistic about the potential."
Commercial viability will ultimately depend upon grade, pressure and size of any helium reservoir, with results expected shortly. Targeting work and permitting is continuing at the company's Heliopolis Helium Project in Arizona's Holbrook Basin, with good progress to date. Heliopolis remains the company's flagship project and management is looking forward to its upcoming drill program to test three targets in different areas in the Basin.
There is currently a global helium shortage despite continued liquidation of inventories by the U.S. Government from its National Helium Reserve. These reserves are projected to be essentially exhausted within another two years. Desert Mountain Energy has some excellent material on its website about the importance of helium and its many uses across a number of industries.
For more information about the company, please visit its website at www.DesertMountainEnergy.com, contact Irwin Olian, President and CEO, at 604-788-0300 or by email at tigertail@DesertMountainEnergy.com.
Corporate Communications is handled by Carrie Howes, who can be reached at 416-837-0075 or by email at carrie@DesertMountainEnergy.com.
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