Advantagewon Oil Corp., Reactivates Two Wells for Oil Production. An Additional 6 BOPD Brought Onto Production

Toronto, Ontario--(Newsfile Corp. - July 8, 2019) - Advantagewon Oil Corp., (CSE: AOC) (OTCQB: ANTGF), (the "Corporation", "Advantagewon", "AOC") announced today that it has reactivated two wells on an existing oil lease.

The Corporation is very pleased to announce that the two wells which were reactivated have shown combined initial flow rates of 10 barrels of oil per day ("bopd"). The Corporation anticipates that this rate will stabilize and will continue between 6 bopd and 10 bopd. At the current price of approximately $57 per barrel, having these two wells on productions with a flow rate of 6 bopd will add approximately $125,000 USD of gross revenue per year. The reactivation work on these two wells was completed at a cost of under $10,000 USD.

Work continues work to install power, and production equipment, onto the first well of the Corporation's 2019 drilling program well so the Corporation can commence commercial production on this first well. This first well was announced, via press release, as drilled on April 3, 2019 and production test results flow rates were announced between 12 to 15 bopd on June 12, 2019. The Corporation is considering other possible drilling locations on this and adjacent leases, as identified, when the Corporation commenced and completed its Deeper Oil Zones testing back in Q4 of 2018.

The Corporation is now looking into plugging the Poth "A" sand zone in the Second Radial Jet Drilling well to produce the well from only the Poth "B" zone as the well is producing large volumes of water, believed to be primarily coming from the depleted Poth "A" sand zone as previously mentioned in the Corporations June 12, 2019 press release. Once plugged the Corporation believes that the production potential of this well will be between 8 and 15 bopd. The Corporation is working to have this operation completed by mid-August.

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. 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

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. We seek safe harbor.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46125

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