Calgary, AB, March 7, 2022 – Avanti Energy Inc. (TSXV: AVN) (OTC: ARGYF) (“Avanti” or the “Company”) is pleased to announce that it has commenced completions operations on its WNG 11-22 Helium well in Greater Knappen, Montana.
The Company will flow test three potentially commercial productive helium bearing zones. The test results will provide important data to support upcoming resource estimates, including flows, pressures, and reservoir fluid helium concentrations. Additionally, testing results will be used to support the design of helium purification facilities. The Company expects the durations of the testing to be between 3-5 weeks.
Avanti is also pleased to announce it has engaged McDaniel & Associates Consultants Ltd. of Calgary, Alberta to evaluate preliminary well results and assist the Avanti team with analysis of key helium prospects. The primary purpose of the evaluation is for corporate resource reporting such as annual reports, banking, financing, and corporate transactions.
“Completion and testing of the WNG 11-22 well is an exciting step in the development of Avanti’s Greater Knappen property,” commented Chris Bakker, Avanti CEO. “The Drill Stem Test results showed very promising flow results along with helium concentrations up to 1.1% and the completions work will bring the well to its full potential.”
About Avanti Energy
Avanti Energy is focused on the exploration, development, and production of helium across western Canada and the United States. Avanti’s professional oil and gas exploration and production team is actively targeting untapped potential helium reserves to help meet the increasing global demand for an irreplaceable and scarce element critical to advanced technology, medical and space exploration industries. For more information, please go to the Company’s website at www.avantienergy.com.
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Avanti Energy Inc.
The information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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