Advantagewon Oil Corp. Adds Additional Well and Provides Production Update
Toronto, Ontario--(Newsfile Corp. - May 14, 2018) - Advantagewon Oil Corp. (CSE: AOC) (OTCQB: ANTGF) (the "Corporation", "Advantagewon", "AOC") provides this update with respect to the three wells brought back to production announced last week.
Production testing has been conducted on the three wells brought back on line as oil producers last week and AOC is pleased to announce that in total we have added three barrels of oil per day (3 BOPD). This has been accomplished at very little cost to the company.
AOC is also please to announce that we have found an additional well (our fourth since we started a detailed inventorying of our land packages) that has been brought on late last week. We continue to review all properties and wells and expect to find similar opportunities as work progresses. We will make periodic announcements of wells returned to production and rates as they become available.
CEO, Mr. Charles Dove stated: "I am pleased with the progress on adding 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.
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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. 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.
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