CALGARY, AB, Jan. 17, 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 first helium well, Rankin 01-17, on its 100%-owned Greater
Knappen project, located in Montana.
The Rankin 01-17 well has now been drilled to a total depth of
5,860 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 to assess gas
composition, pressure, and flow rates. After these operations the
drill rig and crew will be immediately mobilized to the Company's
next planned helium exploration well at Greater Knappen.
Genga Nadaraju, Avanti VP -
Subsurface, commented, "Avanti's technical team is thrilled that
our first exploratory well encountered all targeted zones for
potential helium. We are also excited to have seen shows in an
additional formation not previously identified and the team is
looking forward to the further evaluation of the well."
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.