Avanti Energy (TSXV: AVN) is increasing its land holdings within Alberta. The company this morning announced that it has leased a strategic helium land package from the government of Alberta that is reportedly highly prospective for helium extraction.
The total land package leased from the government is pegged at 2,500 acres, with the property having abandoned wells showing 95% nitrogen from the Devonian and Cambrian formations. Surrounding wells in the region have helium content as high as 2%, thanks in part to a closed structurally high feature that has over 75 metres of relief that is ideal for trapping helium.
The company has identified multiple helium target intervals within the Devonian and Cambrian formations. Avanti is now working towards identifying well locations for the property via a detailed evaluation phase.
Avanti Energy last traded at $3.00 on the TSX Venture.
Information for this briefing was found via Sedar and Avanti Energy. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
