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Advantagewon Oil Corp
Symbol AOC
Shares Issued 187,338,864
Close 2018-01-22 C$ 0.135
Market Cap C$ 25,290,747
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Advantagewon Oil to drill at LaVernia

2018-01-22 09:48 ET - News Release

Mr. Charles Dove reports

ADVANTAGEWON OIL CORP. ANNOUNCES PROPOSED Q1 2018 DRILLING PROGRAMME

Advantagewon Oil Corp. has finalized its proposed first quarter drilling and operational development program.

The corporation intends to drill a minimum of six wells and may drill up to 10 wells on three of its current LaVernia field leases before the end of Q1 2018. The intended plan will be to initially drill two wells on each lease, with additional locations permitted and ready to go based on the success on the initial drilling.

For the proposed drilling, the initial six wells will target two shallow "Poth" sands at depths ranging from 1,100 feet to 1,400 feet. The corporation has prioritized the Poth sand for its Q1 drilling and operational development program as the Poth does not require a frac to produce oil, saving costs and resulting in near-immediate oil production. The shallower of these, the "A" sand, has been a proven oil producer in the area for over 60 years. The deeper sand, the "B" sand, has produced oil and tested oil in a number of wells in the area, but has seen virtually no development. The three leases to be drilled total 698 acres. Drilling cost is estimated at $75,000 (U.S.) per well for a total of $450,000. The corporation anticipates initial production rates of 15 barrels of oil per well.

In Q4 of 2017, the corporation's Q4 drilling and operational development program primarily targeted the deeper "Navarro" sand which required a frac. The corporation has learned that the Navarro sand wells once fracced take a longer time to recover injected frac fluids before seeing oil produced versus the Poth. The Navarro wells do have a long production life, once stable oil production is established, however Poth has the potential of rapidly increasing the corporation's daily production. The proceeds from the potential increased production can be used to further develop the company's landholdings.

The results from the Q4 drilling and operational development program were successful and the corporation is currently producing approximately 45 barrels of oil per day (bopd). Two wells previously drilled in that program are still not on production. The corporation anticipates that one will be on production by the end of January while the other well will be fracced by mid-February depending on the availability of a frac crew.

About Advantagewon Oil Corp.

Advantagewon is focused on building consistent cash flow from low-cost, low-risk oil wells in the state of Texas. Advantagewon applies specialized expertise to increase oil recovery from 10 per cent to 15 per cent to up to 75 per cent for each well. Once the enhanced recovery strategy is successfully applied, Advantagewon will repeat the process throughout the oil pool to maximize output and minimize cost and risk.

We seek Safe Harbor.

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