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AVANTI HELIUM CORP. RECAPS 2022 AND PROVIDES 2022 OUTLOOK
AVANTI HELIUM CORP. RECAPS 2022 AND PROVIDES 2022 OUTLOOK Canada NewsWire ...
About this update from Avanti Helium Corp.
[{"type":"text","content":"\n \n \n \n AVANTI HELIUM CORP. RECAPS 2022 AND PROVIDES 2022 OUTLOOK\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 Sept. 13, 2022\n \n \n /CNW/ -\n \n Avanti Helium Corp.\n \n (TSXV: AVN) (OTC: ARGYF) (the \"Company\") is pleased to provide an update on the Company's plans for 2022, recap its 2022 accomplishments to-date and offer important commentary on the current state of the global helium market.\n \n \n \n Chris Bakker\n \n , CEO, commented, \"The helium market has been robust throughout 2022 with fundamentals still indicating helium demand continuing to heavily outweigh supply. With\n \n Russia's\n \n export restrictions and higher natural gas prices causing other suppliers to stop refining helium from their gas streams, there has been a global helium shortage.\n \n 1,2\n \n From conversations with traders and analysts, helium spot prices have increased substantially to between\n \n US$2,000\n \n -\n \n US$5,000\n \n /Mcf in 2022, with some sales reportedly reaching as high as\n \n US$6,000\n \n /Mcf. Avanti expects helium prices to remain elevated for longer and is focused on bringing the WNG helium pool into production as quickly as possible.\"\n \n \n Mr. Bakker concluded, \"As the world economy transitions into what might be a very different global supply chain structure, the Company believes that North American demand growth will continue driving prices. For example, the passing of the CHIPS and Science Act of 2022 has encouraged an already strong \"reshoring\" of semiconductor manufacturing, which is a crucial use for helium.\n \n 3\n \n \"\n \n \n \n Key Accomplishments from 2022:\n \n \n \n \n Successfully drilled multiple wells in Greater Knappen,\n \n Montana\n \n , with WNG 11-22 showing 1.1% helium with an anticipated production rate of 55 Mcf/d of helium.  A review of publicly available data shows the first and second most productive helium wells in\n \n Canada\n \n are producing at ~60Mcf/d and ~50.6Mcf/d, respectively\n \...