VANCOUVER, BC, Sept. 15, 2021 /CNW/ - Avanti Energy Inc.
(TSXV: AVN) (US OTC PINK: ARGYF) (the "Company") is
pleased to announce that it has completed its due diligence on the
acquisition of Montana properties
previously announced on June 14,
2021, and July 22, 2021. Upon
completion of satisfactory due diligence, Avanti proceeded to sign
definitive agreements for ~50,000 acres of land in Montana that are highly prospective for
helium. The Company is moving forward in preparation for
drilling activities.
During technical review of the properties, Avanti's team also
identified a new four-way structural close to the east and entered
into a Letter of Intent to acquire a previously unannounced 4,480
acres.
Highlights:
- Avanti's total land holdings are now ~69,000 acres of
potential helium-prospective properties, over which the Company
maintains 100% operatorship.
- The properties, referred to as Greater Knappen, feature
ten closed structural highs, exhibiting relief of
70m to 170m, that are ideal for the trapping of
helium.
- In January 2021, a single
competitor well in the immediate area began helium production from
the same zones targeted by Avanti's technical team, further
validating the Company's model.
- Wells surrounding Avanti's properties have high helium shows in
multiple Devonian and Cambrian targets with helium percentages of
up to 2% and nitrogen percentages of up to 96%.
"By completing the definitive agreements, Avanti has secured its
core Greater Knappen property, a cornerstone to its portfolio
approach to land acquisition and exploration," said Chris Bakker, Avanti Energy CEO. Mr.
Bakker emphasized, "This property has ten structures with several
prospective helium bearing zones to pursue through our 2021
drilling program."
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, the 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.