Vancouver, B.C., May 26, 2021 – Avanti Energy Inc. (TSXV: AVN) (US OTC PINK: ARGYF) (the “Company”) is pleased to announce that it has now acquired key 2D seismic data over its recently acquired strategic land package in Alberta (see press release dated May 10, 2021).
The Company has licensed several privately-owned 2D seismic lines and the early interpretation has confirmed the presence of a large structural closure, previously identified by the Avanti team using well data in the area.
Genga Nadaraju, Vice President, Subsurface Geology, commented, “With the seismic data in hand, the team has now moved to complete a detailed evaluation phase to optimally position well locations for the upcoming drilling program.”
Avanti has also initiated the environmental review necessary for the planned Q3/Q4 2021 drilling program.
The ~2,500-acre property is highly prospective for potential helium extraction, residing over an area with a closed structural high that is ideal for trapping helium and multiple helium shows have been identified in and around the property with shows up to 2%. Previously drilled oil and gas wells on the property show high nitrogen content of ~95% in multiple zones. Nitrogen at this concentration is important because it is often associated with producible quantities of helium and the production of helium is a relatively simple process.
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.
For corporate and shareholder inquiries, please contact:
Avanti Energy Inc.
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.