17:01:31 EDT Sat 10 Jun 2023
Enter Symbol
or Name

Avanti Energy Inc (4)
Symbol AVN
Shares Issued 58,193,382
Close 2022-05-02 C$ 1.44
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Avanti Energy receives helium exploration permits in Sask.

2022-05-03 13:40 ET - News Release

Mr. Genga Nadaraju reports


Avanti Energy Inc. has been granted three helium exploration permits from the government of Saskatchewan for a total of approximately 63,000 acres.

The acquisition of these highly prospective helium properties complements the company's existing holdings beyond Alberta and Montana and aligns with one of Avanti's primary strategies of having a well-diversified portfolio of quality helium assets. The permits are in strategically targeted areas for helium exploration, based on the company's detailed geological models and technical assessment. All of the lands have had historical shallow oil and gas activity on or adjacent to them and any future operations should benefit from existing access and infrastructure. Avanti has also applied for several additional exploration permits in southwest Saskatchewan that are still awaiting regulatory approval.

"With the permits in hand, the team can now start looking at acquiring seismic data, fine tune our geological mapping and put an exploration plan in motion," commented Genga Nadaraju, vice-president of subsurface at Avanti. "Adding a complementary asset to our portfolio of high-impact helium projects positions Avanti with the potential of providing an irreplaceable resource across geographic areas which is critical for applications such as semiconductor chip manufacturing, aerospace, MRI scanning, optical fibre manufacturing and nuclear power generation."

The targeted zones for helium in Saskatchewan are similar to the company's landholdings in the Greater Knappen area (southeast Alberta and northwest Montana), focused on the Cambrian and the Devonian reservoirs containing mainly nitrogen with up to 2 per cent helium.

About Avanti Energy Inc.

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.

We seek Safe Harbor.

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