Avanti Energy is to acquire 15 new Montana gross sections with multiple structural closures, these are in addition to lands acquired earlier this year that are highly prospective for potential helium extraction.
The sections contain several closed structural highs, ideal for the trapping helium, that exhibit around 80m to 200m of relief. There are multiple target zones in the Devonian and Cambrian regions with excellent reservoir quality. Adjacent wells to the north of the acreage in Canada have helium shows up to 2% and nitrogen up to 96%.
The Avanti team has been finalizing the title review and due diligence over its 50,000 acres of land in Montana and during its continuing technical evaluations identified additional lands with significant structural closures for trapping helium to bring into the company’s property portfolio.
The company’s geological models suggest the newly acquired sections have excellent reservoir potential in multiple target zones. The agreement is conditional to Avanti satisfactorily completing the due diligence on the land rights and ownership, which is already underway.
“The acquisition of these sections is very exciting and fits within our strategy of acquiring targeted land packages that are highly prospective for helium development,” commented Chris Bakker, Avanti Energy CEO. “This property is a bolt-on to our Greater Knappen core land package and adds to the multiple closed structural highs we have already assembled. Building on very promising local analogue well results, our detailed analysis indicates strong potential for development of helium across Greater Knappen.”
Avanti continues to evaluate multiple opportunities across Western Canada and the US to build a helium company with a premier portfolio of prospective lands.
For more information visit: www.avantienergy.com