Sacramento, CA , Feb. 02, 2018 (GLOBE NEWSWIRE) — A new report has been published on Advantagewon Oil Corp. (OTCQB: ANTGF) Advantagewon Oil Corp. operates as a low-cost and low-risk oil exploration and production company within the state of Texas. As of February 2018, Advantagewon Oil Corp has around 24 low-cost prospects across two properties within the state: La Vernia and Saratoga. The company holds leases covering 3,500 plus acres on the La Vernia field, 400 acres on Saratoga property. Currently, Advantagewon Oil Corp. has operational oil wells at its La Vernia and Saratoga properties, where the company has production costs of $11 per barrel and $12 per barrel respectively.
The report provides an overview of Advantagewon Oil Corp., its oil properties/leases, industry analysis, and the outlook for the U.S. oil markets for 2018.
As the first month of 2018 comes to a close, oil stands among the top performers. WTI Crude Oil saw gains greater than 7.00% for the month of January, closing at just under $65 per barrel. The long-term trend on oil’s Commitment of Traders (COT) report remain very bullish, as commercial hedgers and large traders continue to add to their positions.
According to a recent report from natural resource investment management firm, Goehring & Rozencwajg, the oil markets are on track to hit $100 in 2018. The firm sees the rallying continuing due to the continuation of oil inventory drawdowns, improving demand, decrease in large oil discoveries, and signs of exhaustion within the U.S. shale market.
“Since we first outlined our thesis one year ago, oil inventories have drawn by as much as 650,000 b/d relative to normal – a record rate. The market deficit continues to get worse, and 2018 should see inventories draw further. With the market in deficit, demand surging higher and the rest of the non-OPEC world feeling the impact of meager conventional discoveries, the burden of balancing the market falls to the US shales. However, signs are emerging that the US shales are exhibiting the first signs of field exhaustion and will not be able to make up the shortfall. Inventories should continue to fall, putting upward pressure on oil prices. Our thesis – $100 oil sometime in 2018 – is looking more and more possible,” detailed the resource outlook report.
Goehring & Rozencwajg also commented on the lack of attention to the oil rebound, which is up around 150% since bottoming in February 2016. The firm notes that investors continue to rely on consensus data rather than actual fundamental improvements. The firm concluded that the continued neglect from investors and coinciding fundamental improvements in the oil markets could “present investors with a phenomenal buying opportunity.”
Advantagewon Oil Corp. recently released its proposed first quarter 2018 drilling program, which detailed the intent to drill between six to ten wells across three of its current LaVernia leases by the end of March 2018. These initial wells will target two shallow Poth sands at depths from 1,100 to 1,400 feet. Poth does not require fracing to produce, which allows the company to save on expenses and increase cash flow. Overall, the new wells are expected to add an additional 15 barrels of oil per day (BOPD) in production initially.
Furthermore, the company took the opportunity to announce that its average daily oil production has hit approximately 45 BOPD. Management forecasts monthly revenues net of royalties to come in around $60,000 USD for the month of January.
On January 24th, Advantagewon Oil CEO Charles Dove interviewed with the “Stock Day” podcast to provide more details on the company’s Texas operations. Mr. Dove notes that advanced technologies and upgraded wells have revitalized the Texas oil landscape, which was once considered to be tapped. “There is still a lot left to do. A lot of low-risk opportunity and we just see that as a great way to grow a company right now,” detailed Mr. Dove.
Overall, Advantagewon Oil has an exciting future ahead, as the low-cost producer continues to expand its production capabilities across its properties. Oil market fundamentals continue to stabilize and improve, despite the lack of attention from investors. However, the commitment of traders (COT) report shows that the “smart money,” the commercial hedgers, are continuing to expand on their short positions on oil to multi-year highs. Advantagewon Oil is entering a period of high-growth and margins, as oil prices continue to march higher.
For more information on Advantagewon Oil Corp., please visit https://www.aoc-oil.com and http://spotlightgrowth.com/index.php/2018/02/01/1-stock-consider-oil-forecast-hit-100-2018/
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