Toronto, Ontario--(Newsfile Corp. - October 19, 2017) - Advantagewon Oil Corp. (CSE: AOC) (OTC Pink: ANTGF) (the "Corporation", "Advantagewon") announced today that it has entered into a Purchase and Sale Agreement to purchase 100% working interests in the Linnie Rouse lease located in the LaVernia field in the State of Texas. Total purchase price for the lease will be One Hundred and Eighty Thousand Dollars ("$180,000.00") USD. The Corporation will acquire the lease in full via a cash payment.
The Rouse lease comprises 257 acres, produces 5 BOPD and is located adjacent to other AOC lands and a pool that has produced over 4,000,000 barrels of oil. This lease has seen minimal previous oil development.
As a result of this acquisition, Advantagewon now holds the rights to approximately 4,000 acres in the LaVernia field.
Our NI 51-101 (a copy of which is on our website) indicated an undiscounted value of US$96,000,000 for the 1,200 acres included in the report. We believe these results are indicative of our whole land package and are in the process of having our report updated.
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. For more information please visit www.aoc-oil.com.
For further information please contact:
Mr. Paul Haber
CEO & Director
T: (416) 318-6501
E: [email protected]
Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp.
T: (647) 466-4037
E: [email protected]
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 —