AVANTI ENERGY REACHES TOTAL DEPTH AT WNG 11-22 AND PREPARES FOR TESTING

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.

For corporate and shareholder inquiries, please contact: Avanti Energy Inc., Investor Relations, Phone: [phone], Email: [email protected], Website: www.avantienergy.com