Toronto, Ontario, April 30th, 2018 – Advantagewon Oil Corp., (CSE: AOC), (OTCQB: ANTGF), (the “Corporation”, “Advantagewon”, “AOC”) is very pleased to announce that MKM Engineering Oil and Gas Consulting Services (“MKM”), of Plano Texas, has completed an update on the Oil & Gas reserves and economics evaluation report for both Advantagewon’s LaVernia and Saratoga properties. Both reports are in compliance to National Instrument 51-101 (“NI 51-101”). Copies of the two reports have been posted onto the homepage of the Corporation’s website www.aoc-oil.com and Form 51-101F1 (Statement of Reserves Data and Other Oil and Gas Information), which references the information contained within the two reports has been filed onto SEDAR.
Set out below are summary tables of the value of the future net revenue for the companies two core properties and of the Corporation in total as at December 31, 2016 and December 31, 2017 as evaluated by MKM in the 2016 and 2017 Year-End 2017 reports. All economic evaluations stated in this press release, and disclosed in the two reports are and have been quoted in US Dollars. AOC’s reserves are 100% light and medium gravity crude oil.
LaVernia Reserve Values
Key highlights of the report concluded that the undiscounted reserve value for the LaVernia field increased by 78% in 2017 vs. 2016.
Key highlights of the report concluded that the undiscounted reserve value for the Saratoga field remained stable.
Combined and Total Reserves
Key highlights of the report concluded that the combined undiscounted reserve value for the two properties increased 57.45%.
Mr. Charles Dove stated: “All of us at AOC are extremely pleased with the findings in the LaVernia report. Since my appointment to AOC, both Derek Stonehouse, our Geologic Technologist, and I, have been diligently working on evaluating and identifying existing geological areas on the LaVernia field that could unlock further Oil reserves. Thus far, the work we have put into the LaVernia field has allowed us to increase the known Undiscounted reserves by 78%. We have many other areas on the property that we want to further investigate and we are very optimistic that we will locate further discoveries on the field.”
About Advantagewon Oil Corp. (OTCQB: ANTGF) (CSE: AOC):
Advantagewon Oil Corp. 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 Oil’s common shares are listed on the OTC Markets in the United States and on the Canadian Securities Exchange (“CSE”) in Canada. Advantagewon Oil is a member of the CSE Composite Index (CSE:AOC). For more information please visit www.aoc-oil.com
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