Toronto, Ontario--(Newsfile Corp. - March 7, 2018) - Advantagewon Oil Corp. (CSE: AOC) (OTCQB: ANTGF) (the "Corporation", "Advantagewon", "AOC") is pleased to announce that the soft ground conditions at LaVernia have significantly improved and that the drilling rig that was previously on standby, has now been moved onto the LaVernia field and the drilling of the first three of the proposed six wells has commenced.
Completion & testing operations will be carried out upon conclusion of the drilling program. Each vertical well will be approximately 400 metres in total depth, and the drilling is expected to take approximately three days per well.
As previously stated in the Corporation's Jan 22nd, 2018 press release, once drilling and equipping of the six wells is completed, the wells are expected, on average, to add 15 barrels of oil per day ("BOPD"), per well, for a total of 90 BOPD. The Corporation is still awaiting for the drilling permits to arrive on the remaining three wells and anticipates that these permits will arrive this coming week.
About Advantagewon Oil Corp.
Advantagewon is focused on building consistent cash flow from low cost, low risk oil wells in the State of Texas. AOC applies specialized expertise in oil pool development by development drilling, pressure restoration and maintenance using water and chemical injection to increase oil recovery from 10-15% to up to 75% for each pool.. Once the enhanced recovery strategy is successfully applied, AOC will repeat the process throughout the oil pool to maximize output and minimize cost and risk. Advantagewon's common shares are listed on the OTC Markets in the United States and on the Canadian Securities Exchange ("CSE") in Canada. Advantagewon is a member of the CSE Composite Index (CSE: AOC). For more information please visit www.aoc-oil.com
For further information please contact:
Mr. Charles Dove
CEO & Director
Advantagewon Oil Corp.
T: (403) 815-2440
E: charles.dove@aoc-oil.com
W: www.aoc-oil.com
Mr. Paul Haber
Chairman & Director
Advantagewon Oil Corp.
T: (416) 318-6501
E: paul.haber@aoc-oil.com
W: www.aoc-oil.com
Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp.
T: (647) 466-4037
E: frank.kordy@aoc-oil.com
W: www.aoc-oil.com
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
— 30 —
