AVANTI ENGAGES DRILLING CONTRACTOR FOR FIRST THREE WELLS OF ITS HELIUM EXPLORATION PROGRAM IN MONTANA
Calgary, AB, November 9, 2021 – Avanti Energy Inc. (TSXV: AVN) (US OTC PINK: ARGYF) (the “Company”) is pleased to announce that it has contracted T&S Drilling for its initial three well drilling program at its 100%-owned Greater Knappen land holdings in Northern Montana.
The initial drilling program is scheduled to spud in early December and will target three separate pay zones, two in the Beaverhill Lake formation and one in the Basal Sandstone formation. The drilling targets exhibit structural highs with relief of 70m to >200m. Previously drilled wells surrounding Avanti’s lands have high helium shows in multiple Devonian and Cambrian targets with helium percentages of up to 2% and nitrogen percentages of up to 96%.
Chris Bakker, CEO of Avanti, commented, “We are excited to have engaged T&S Drilling and now have a clear line-of-sight to spudding our first well and unlocking the significant potential of Greater Knappen. Management’s technical interpretation of just 7 of the 10 structures suggest an estimated un-risked and undiscovered resource potential of between 1.4 and 8.9 billion cubic feet of recoverable helium.”
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.
The Company has also retained B2I DIGITAL, Inc. (“B2I”) to provide digital marketing advisory services to Avanti pursuant to a consulting agreement (the “Agreement”) dated November 2, 2021. B21 has been engaged to assist the Company in broadening awareness to the investing community (the “Services”).
B21 and its principal, David Shapiro, do not currently have any interest, directly or indirectly, in the Company or its securities. B2I has agreed to comply with all applicable securities laws and policies of the TSX Venture Exchange (the “TSXV”) in providing the Services. B2I has been engaged by the Company for an initial period of six months, starting November 15, 2021 (the “Initial Term”) with the option to renew on a month-to-month basis. Either B2I or the Company may terminate the Agreement at any time upon thirty days’ prior notice to the other party after the Initial Term. B2I will be paid a monthly fee of US$6,000 during the Initial Term.
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.gradyf10.sg-host.com.
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Avanti Energy Inc.
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.