CALGARY, AB, Nov. 9, 2021 /CNW/ - Avanti Energy Inc.
(TSXV: AVN) (US OTC PINK: ARGYF) (the "Company") is pleased to
announce that it has contracted T&S Drilling for its initial
three well drilling program at its 100%-owned Greater Knappen land
holdings in Northern Montana.
The initial drilling program is scheduled to spud in early
December and will target three separate pay zones, two in the
Beaverhill Lake formation and one in the Basal Sandstone formation.
The drilling targets exhibit structural highs with relief of
70m to >200m. Previously drilled wells surrounding
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%.
Chris Bakker, CEO of Avanti,
commented, "We are excited to have engaged T&S Drilling and now
have a clear line-of-sight to spudding our first well and unlocking
the significant potential of Greater Knappen. Management's
technical interpretation of just 7 of the 10 structures suggest an
estimated un-risked and undiscovered resource potential of between
1.4 and 8.9 billion cubic feet of recoverable helium."
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 also retained B2I DIGITAL, Inc. ("B2I") to
provide digital marketing advisory services to Avanti pursuant
to a consulting agreement (the "Agreement") dated November 2, 2021. B21 has been engaged to
assist the Company in broadening awareness to the investing
community (the "Services").
B21 and its principal, David
Shapiro, do not currently have any interest, directly or
indirectly, in the Company or its securities. B2I has agreed
to comply with all applicable securities laws and policies of the
TSX Venture Exchange (the "TSXV") in providing the
Services.
B2I has been engaged by the Company for an initial period of six
months, starting November 15, 2021
(the "Initial Term") with the option to renew on a month-to-month
basis. Either B2I or the Company may terminate the Agreement
at any time upon thirty days' prior notice to the other party after
the Initial Term. B2I will be paid a monthly fee of
US$6,000 during the Initial
Term.
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.