CALGARY,
AB, Feb. 3, 2022 /CNW/ - Avanti Energy
Inc. (TSXV: AVN) (OTC: ARGYF) (the "Company") is pleased
to announce that it has successfully completed the drilling phase
of its second helium exploration well, WNG 11-22, on its Greater
Knappen project, located in Montana.
The WNG 11-22 well has now been drilled to a total depth of
5,390 feet and has identified multiple potential helium zones.
Avanti's technical team is proceeding with open hole logging and
drill stem testing (DST) of the identified pay zones.
"The entire team is really excited with the progress the
drilling team made on WNG 11-22," commented Chris Bakker, Avanti CEO. "The drilling team
reached total depth 2 days ahead of the aggressive targets they set
for themselves and we are proceeding with the logging and DST. We
want to extend a big thank you to T&S Drilling and the entire
crew."
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.