VANCOUVER, BC, July 12, 2021 /CNW/ - Avanti Energy
Inc. (TSXV: AVN) (OTCPINK: ARGYF) (the "Company") is pleased to
announce that following a detailed geophysical review of seismic
data, the Company's technical team has confirmed three potential
drilling locations on its Aden property located in Southern Alberta. The Aden property is highly
prospective for potential helium exploration and the Company is
moving forward with its planned Q3/Q4 2021 drilling program.
Highlights:
- Avanti has identified three potential drilling locations to
test multiple helium target intervals in the Precambrian and
Beaverhill Lake formations.
- Geophysical review of seismic data has confirmed a four-way
structural close with over 75 meters of relief, ideal for trapping
helium.
- Wells will target multiple horizons, showing up to ~95%
nitrogen and ~2% helium from multiple adjacent wells and previously
abandoned wells located on the property.
- Initial environmental assessment on the property has been
completed.
Following extensive geophysical evaluation of seismic data, the
Company has identified three potential drilling targets and
confirmed a large four-way closed structure with over 75 meters of
relief. Geological evaluations of nearby wells indicate nitrogen
concentrations between ~86% - 98% and helium concentrations between
~.6% - 2.17% in the Cambrian Sandstone, Lower Beaverhill Lake, and
Upper Beaverhill Lake, providing three target pay zones for
potential helium discovery.
As part of the comprehensive geological evaluation of the area,
core and log analysis indicate excellent reservoir quality rock
over multiple horizons in the Beaverhill Lake and Cambrian
formations. The Company has also successfully completed its initial
environmental assessment of the property.
"The entire team is excited to be moving into this next phase in
the of development our properties," commented Chris Bakker, Avanti Energy CEO. "The data from
nearby wells, along with the extensive geological and geophysical
analysis, have led our team to believe that these targets
constitute the ideal locations for our 2021 drilling program and
achieve the goal of confirming our geological models and
discovering helium," concluded Mr. Bakker.
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.
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.
Forward-Looking Statements
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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE Avanti Energy Inc.