Toronto, Ontario--(Newsfile Corp. - March 30, 2020) - Advantagewon Oil Corp., (CSE: AOC), (OTC Pink: ANTGF), (the "Corporation", "Advantagewon", "AOC") announced today that it successfully continues to add additional production and production opportunities.
The asset acquisition consists of multiple licensed well locations with current production and an inventory of reactivation candidates. The acquisition was from a private company. The purchase price is consistent with our goal of low cost acquisitions with the opportunity to increase production through our optimization strategies. As a result of current oil prices, the production we are acquiring is currently at approximately breakeven.
Stephen Hughes, CEO said: "We are very pleased to have been able to make this acquisition. We feel the current environment will allow us the opportunity to acquire many similar projects and hold onto them until the price of oil rebounds at which time we believe these acquisitions will be of great benefit to our stakeholders."
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
Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp
T: (647) 466-4037
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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