CALGARY,
AB, March 31, 2022 /CNW/ - Avanti Energy
Inc. (TSXV: AVN) (OTC: ARGYF) (the "Company") is pleased
to provide an update on the development and drilling plan of its
Greater Knappen property.
The completions and testing of the Flathead (Cambrian) zone of
the WNG 11-22 well has progressed well. The Company will initiate
completions on the two Souris River zones on or around April 4, 2022, and expects to provide updated
information, including helium concentration and tested flow rates,
on the Flathead shortly thereafter.
The early results of the WNG 11-22 well have led the Company to
start planning for an appraisal well to delineate the size of the
reservoir and assist with the reserves estimation.
The Company is also planning for its next exploration well that
will test another of the ten identified structures in the Greater
Knappen property. The two well program is targeted to kick
off in mid-June. Avanti is also in the process of qualifying
engineering firms to assist with the design, procurement, and
construction of helium purification facilities for the WNG 11-22
well.
The foregoing information is a directional update and subject to
supply chain, legal and regulatory efforts and other normal
uncertainties associated with exploration.
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.