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AVANTI ENERGY ANNOUNCES FIRST RESOURCE ESTIMATE FROM WNG 11-22 WELL AND UNDERLYING STRUCTURE
AVANTI ENERGY ANNOUNCES FIRST RESOURCE ESTIMATE FROM WNG 11-22 WELL AND UNDERLYING STRUCT...
About this update from Avanti Helium Corp.
[{"type":"text","content":"\n \n \n \n AVANTI ENERGY ANNOUNCES FIRST RESOURCE ESTIMATE FROM WNG 11-22 WELL AND UNDERLYING STRUCTURE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n June 24, 2022\n \n \n /CNW/ -\n \n Avanti Energy Inc.\n \n (TSXV: AVN) (OTC: ARGYF) (\"Avanti\" or the \"Company\") is pleased to announce that it has received a total unrisked contingent resource estimate of 187MMcf of net recoverable  helium gas (based on a raw gas estimate of 17 billion cubic feet (\"Bcf\") recoverable and net helium concentration of 1.1%) prepared by McDaniel & Associates Consultants Ltd., a qualified reserves evaluator, for the Company's WNG 11-22 helium well and underlying structure in the Greater Knappen Property, located in\n \n Montana\n \n . This volume represents the best estimate of the unrisked contingent resource. The low and high estimates of unrisked contingent resources are 66MMcf and 374MMcf of recoverable helium gas (based on 6 Bcf and 34 Bcf recoverable raw gas), respectively.\n \n \n Based on the test data of the Flathead Cambrian Sandstone zone (the \"Flathead Zone\") from the WNG 11-22 well, a best estimate contingent resource (2C) volume of 77MMcf of net helium (based on 7 Bcf raw gas) is assigned to the well in the category development pending. Two follow-up wells are forecast to be drilled in the structure underlying WNG 11-22 and recover 55MMcf of net helium (based on 5 Bcf of raw gas), respectively.\n \n \n The contingent resources have been risked to account for the chance of commerciality.  The contingent resources have been estimated at a 90% chance of commerciality. As such, the WNG 11-22 well has been assigned development pending risked contingent resources of 6.3 Bcf raw gas in the 2C case, and the follow-up wells have been assigned 4.5 Bcf each in the 2C case, for a total risked contingent resources of 168MMcf (based on 15.3 Bcf of raw gas).\n \n \n By comparison, and based on publicly available data, the largest producing pure play helium in\n \n Canada\n \n is the Wilhelm ...