COLLE SANTO GAS PROJECT UPDATE

Wednesday July 15, 2015

Vancouver, British Columbia, July 15, 2015 Avanti Energy Inc. (TSXV: AVN) (“Avanti” or the “Company”) is pleased to announce that its Italian subsidiary CMI Energia S.p.A (“CMI”) has assembled a world class technical and administrative team ideally suited to completing the development and permitting process for the recently acquired Colle Santo gas project.

Located in the Abruzzo region of centralItaly, the Colle Santo project is the largest undeveloped onshore gas field inItaly. Colle Santo contains 76 bcf of proven and probable gas reserves. The current proven and probable field limits cover 2451 acres and the reserves have been fully delineated by two existing new wells along with six older wells. The two existing new wells are currently capable of production in excess of 20 mmcf of gas per day. CMI is operator and, along with its affiliate Avanti Exploration LLC, andDove Energy BV, owns a 90% working interest in the project.

Development Team

Avanti has named Mark Frascogna as Managing Director of CMI.  In addition to serving as Vice President of Avanti, Mr. Frascogna has decades of experience working in the oil and gas sector in Italy having served in various senior management positions for companies including: Calpine, Forest Oil and Intergie. Avanti, through its subsidiary CMI, has also appointed Mr. Antonio Panebianco as Chief Technical Officer. Mr. Panebianco is a professional engineer and he brings years of experience in engineering oil, gas and power projects inItaly. As part of the technical team working on the Colle Santo project, CMI has selected the following Italian based engineering firms:

High Technology Engineering Srl– General Contractor

Ediltop Srl – Pipeline Engineers

DREAM Group of Turin - Prof. Leonardo Tognotti, chemical engineer Universityof Pisa–Environmental Consulting

This team of engineering firms brings decades of relevant in country experience to the Colle Santo project in: design and construction of gas facilities, gas pipelines, and environmental evaluation and safety.

CMI’s new Managing Director,Mark Frascogna commented: “We are very excited about the substantial merits of the Colle Santo project and are confident of its importance and viability as an onshore natural gas development. We are looking forward to working closely with the region of Abruzzo to develop Colle Santo in strict observance of mining, health and environmental rules, and in a way that will create significant royalty and tax revenues, employment, and economic stimulus for the surrounding communities for years to come.”

The board of directors and management of Avanti believe there is substantial opportunity to develop over the coming year a portfolio of oil and gas development projects in onshore Italy. Colle Santo is the first of what is expected will be several acquisitions of projects that are in production or have near-term production potential.

Avanti was established in 2013 by energy industry executiveJohn McIntyreand his team of professionals, representing over 200 years of global oil and gas experience in over 20 countries, including: Italy, Switzerland, United States, Indonesia, South Africa, Colombia, and Argentina. Avanti’s focus is on the acquisition and enhancement of producing and other similar assets that may benefit from the application of proven technologies. 

For more information regarding the Company please contact Kirk Gamley, corporate communications, at 604-689-7422. 

 

 

 

“John F. McIntyre”                                                                                                                                        

President, CEO         

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

 


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