17:45:33 EDT Sat 10 Jun 2023
Enter Symbol
or Name

Avanti Helium Corp
Symbol AVN
Shares Issued 58,223,382
Close 2022-10-28 C$ 0.54
Recent Sedar Documents

Avanti Helium spuds third well at Greater Knappen

2022-10-31 11:03 ET - News Release

Ms. Genga Nadaraju reports


Avanti Helium Corp. has spudded its third helium well, WNG 10-21, an appraisal well on its Greater Knappen property, located in Montana.

The WNG 10-21 well will be drilled to a depth of approximately 5,500 feet and will target both the Flathead Cambrian sandstone and Souris River zones for helium production. The WNG 10-21 appraisal well is approximately one kilometre west and 50 metres down dip of the company's WNG 11-22 helium well and 50 m down dip. Geological and seismic modelling show similar characteristics to the WNG 11-22 well and by delineating down structure from WNG 11-22 the company hopes to further define and expand the WNG helium pool.

"The WNG 11-22 discovery well confirmed a base case for the size of the pool," commented Genga Nadaraju, vice-president, subsurface. "WNG 10-21 is targeted to define the medium case for the pool size and be an additional production well for the WNG helium pool. The team is excited and awaiting the drilling results from WNG 10-21."

The company has also continued to progress facilities engineering work and is currently in the bidding process for critical items. Current expectations are that first-tier long lead orders will be placed this quarter. In addition, site power and utility requirements are being assessed to determine additional infrastructure requirements which should be completed by Q4. Site scouting of surface land location for the facility is also being actively pursued. Potential site locations have been screened to minimize transportation logistics and to align with minimizing costs for utility power distribution upgrades.

About Avanti Helium Corp.

Avanti Helium 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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