Toronto, Ontario--(Newsfile Corp. - August 15, 2019) - Advantagewon Oil Corp., (CSE: AOC) (OTCQB: ANTGF), (the "Corporation", "Advantagewon") announced today that it had sold 1019 Barrels of oil in July 2019 from its LaVernia land holdings.
The volume of oil sold in the month of July is the highest ever monthly oil sales total for the Corporation from LaVernia. The average selling price was $50.54 US dollars (USD) per barrel for total Gross Proceeds of $51,497.00 USD or $68,136.00 CDN. This is an early representation of the development potential of the area. The Corporations 51-101 Reserve Report dated December 31, 2018 stated that the Corporation's combined LaVernia area land holdings have a total potential oil recovery of 3,156,760 barrels with a present value of future net income at a 10% discount rate per annum of $78,692,900.00 USD.
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 to increase oil recovery from 10-15% to up to 75% for each well. For more information please visit www.aoc-oil.com.
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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, 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 accepts responsibility for the adequacy or accuracy of this release.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46984