Toronto, Ontario--(Newsfile Corp. - February 3, 2020) - Advantagewon Oil Corp., (CSE: AOC), (OTC Pink: ANTGF), (the "Corporation", "Advantagewon", "AOC") announced today that it has further expanded and advanced its Canadian based operations. The Corporation has entered into an agreement whereby it acquired a working rights interest to a former operating well that has a historic production record of between 20 and 30 Barrels of Oil Per Day ("BOPD").
The Corporation has also committed to funding and implementing a workover program with the purpose of recommissioning the well that it is acquiring. Total commitment, including both the purchase price, and the anticipated costing to conduct the workover program, will amount to Eighty Thousand Dollars ('$80,000.00") CDN. The Corporation has issued a promissory note on the same terms as conditions as those entered into in its most recent financing round.
Once the workover program is completed and the well is both recommissioned and put back online, the Corporation's working interest on the well will be 100%. The Corporation anticipates that the workover will take approximately 3 weeks and plans on commencing the workover immediately.
About Advantagewon Oil Corp.
Advantagewon is focused on building consistent cash flow from low cost, low risk oil wells. 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. Stephen Hughes
CEO & Director
Advantagewon Oil Corp.
T: (587) 580-9344
stephen.hughes@aoc-oil.com
Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp
T: (647) 466-4037
frank.kordy@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/52040
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