TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC,
April 14, 2022 /CNW/ -
DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV:
DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the
Company.
The Company is pleased to announce that it has purchased five
heavy haul rigs to move drilling and plant processing equipment.
The Company has lost critical time waiting to get drilling
equipment moved and has seen a large increase in heavy haul rig
costs. DME spent in excess of USD
700,000.00 to move rigs and equipment on the first seven
wells. Initially, the rig mobilization on Well #1 was approximately
$26,000.00, in 18 months the cost has
escalated to $164,000.00 on Well #7
for rig de-mobilization. The Company's excellent cash position has
made it possible to control costs and timing of equipment moves
with the purchase of five heavy haul trucks. DME is finalizing the
separate company, which will have under ten employees, and the
equipment will be contracted out and provide additional cash flow
to the company's bottom line.
"Management has taken advantage of a healthy treasury to combat
inflation and supply chain issues," says Robert Rohlfing, CEO of Desert Mountain Energy
Corp. "This acquisition not only solves those issues but will
provide additional cash flow. The fleet will be contracted out when
not being used by the Company."
ABOUT DESERT MOUNTAIN ENERGY
Desert Mountain Energy Corp. is a publicly traded resource
company primarily focused on exploration, development and
production of helium, hydrogen and noble gases. The Company is
primarily looking for elements deemed critical to the renewable
energy and high technology industries.
We seek safe harbor
"Robert Rohlfing"
Robert
Rohlfing
Exec Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in polices of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. The statements made in this press release may contain
certain forward-looking statements that involve a number of risks
and uncertainties. Actual events or results may differ from the
Company's expectations.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Such forward looking statements and information herein include but
are not limited to statements regarding the Company's anticipated
performance in the future the planned exploration activities,
receipt of positive results from drilling, the completion of
further drilling and exploration work, and the timing and results
of various activities.
Forward-looking statements or information involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company and its operations to be materially different from
those expressed or implied by such statements. Such factors
include, among others, changes in national and local governments,
legislation, taxation, controls, regulations and political or
economic developments in Canada
and the United States; financial
risks due to helium prices, operating or technical difficulties in
exploration and development activities; risks and hazards and the
speculative nature of resource exploration and related development;
risks in obtaining necessary licenses and permits, and challenges
to the Company's title to properties.
Forward-looking statements are based on assumptions
management believes to be reasonable, including but not limited to
the continued operation of the Company's exploration operations, no
material adverse change in the market price of commodities, and
such other assumptions and factors as set out herein. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements or information, there may be other
factors that cause results to be materially different from those
anticipated, described, estimated, assessed or intended. There can
be no assurance that any forward-looking statements or information
will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements or
information. Accordingly, readers should not place undue reliance
on forward-looking statements or information. The Company does not
intend to, and nor does not assume any obligation to update such
forward-looking statements or information, other than as required
by applicable law.
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content:https://www.prnewswire.com/news-releases/desert-mountain-energy-makes-strategic-move-to-address-rig-moving-inflation--availability-issues-301525540.html
SOURCE Desert Mountain Energy Corp.