AVANTI ENERGY PROVIDES DEVELOPMENT UPDATE AND DRILLING PLAN FOR GREATER KNAPPEN
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.
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.
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.
For corporate and shareholder inquiries, please contact: Avanti Energy, Investor Relations, Phone: 403-394-0409, Email: [email protected], Avanti Energy Inc., Website: www.avantienergy.com
Share this article