- Joined
- Nov 28, 2016
- Messages
- 8,734
This would be considered their first "miss" on helium but they believe it's part of 10 square mile hydrogen field which will prove up with more digs. They said it's the first "green hydrogen" field in north America meaning it's free of hydrocarbons and sulfur which is corrosive. That being said expect this well to stay capped for a few years. Green hydrogen is still in an infancy of use and they would need to prove up the rest of the field and have enough capex to start another operation. As the book grows though this certainly makes them more attractive as an acquisition to a company like Linde down the road.
Welp. I jumped the gun here. The hole also has helium. They just wanted to make separate announcements for the hydrogen field and helium find i guess.
I assume we'll see preliminary results on # 7 in 2 weeks and final flow/% testing results on the 3 wells in 4-6 weeks.
CHEERS BOYS!
DESERT MOUNTAIN ENERGY COMPLETES DRILLING OF WELL #6 FOR HELIUM IN McCAULEY HELIUM FIELD, ARIZONA, by @newswire
TSX.V: DMEU.S. OTC: DMEHFFrankfurt: QM01