AVANTI REACHES TOTAL DEPTH AT RANKIN 01-17 WELL AND PREPARES FOR DRILL STEM TESTING

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.

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