Calgary, AB, February 9, 2022 – Avanti Energy Inc. (TSXV: AVN) (OTC: ARGYF) (the “Company”) is pleased to announce that it has successfully completed the initial testing on its second helium well, WNG 11-22, on its Greater Knappen project, located in Montana.
Open hole logging of WNG 11-22 confirmed excellent reservoir quality sand in all three target zones. The Basal Cambrian sand exhibits 35ft of net pay with porosity up to 16%. The Souris River has two intervals totalling 42ft net pay with porosity up to 18%. DST (Drill Stem Test) results indicated all three zones showed potentially economic helium concentrations. Subject to further analysis and lab results, the preliminary DST results encourage completing these zones.
“The technical team is thrilled that WNG 11-22 confirmed our second play concept in Greater Knappen,” commented Genga Nadaraju, Avanti VP – Subsurface. “We are very happy with the initial results, as we saw excellent reservoir quality in the Cambrian and the Devonian formations with high potential helium shows. We are looking forward to completing and testing our first two wells. Avanti expects to resume drilling additional targets in the coming months.”
About Greater Knappen Area:
- ~69,000 acresof potential helium-rich properties across both Montana and Alberta.
- Technical team has identified 17 drilling targets in the core Greater Knappen area.
- 10closed structural highs, exhibiting relief of 70m to >200m, that are ideal for trapping helium.
- In 2021 helium production commenced from a well drilled in the immediate area by a separate company, from the same zones targeted by Avanti’s technical team, further validating the Company’s model.
- Other wellssurrounding Avanti’s lands have high helium shows in multiple Devonian and Cambrian targets with helium percentages of up to 2% and nitrogen percentages of up to 96%.
Avanti continues to evaluate multiple opportunities across Western Canada and the United States to build an industry-leading helium company with a premier portfolio of prospective lands.
The Company has engaged Advanced Media Solution Ltd. to provide strategic digital media consulting and corporate brand marketing services. The Company has agreed to a budget of one hundred fifty thousand (US) for six-months and may wish to continue with Advanced Media but is under no obligation.
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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