Toronto, Ontario--(Newsfile Corp. - May 10, 2018) - Advantagewon Oil Corp. (CSE: AOC) (OTCQB: ANTGF) (the "Corporation", "Advantagewon", "AOC") provides this update with respect to the two wells brought back to production announced last week.
The Corporation's new oil well operator in the LaVernia continues to familiarize himself with the company leases and wells and has identified opportunities for the company to bring some additional existing wells back on production. To date three wells have been brought back on and production testing is currently underway on these wells with results expected by the end of this week. This has been accomplished at very little cost to the company.
We expect to find similar opportunities as work progresses.
CEO, Mr. Charles Dove stated: "I look forward to finding additional opportunities to add production on the company's lease holdings by restoring existing wells to production. It is vital that we extract all possible value from our holdings and these incremental low cost additions will contribute to our goal of achieving positive cash flow."
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 DoveCEO & 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 —
