$ANTGF Updates NI 51-101 Report, Combined Undiscou
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Posted On: 05/01/2018 2:37:13 PM
$ANTGF Updates NI 51-101 Report, Combined Undiscounted Reserves Increased By 57% From $135 Million to $212 Million
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.
Saratoga Reserves
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
Forward-Looking Statements Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forwardlooking 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.
Disclaimer:
Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.
All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated one thousand one hundred and fifty dollars cash and one thousand dollars worth of restricted stock for the creation and dissemination of this content.
This material does not represent an investment solicitation. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.
The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.
Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: http://spotlightgrowth.com/index.php/disclosures/
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.
Saratoga Reserves
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
Forward-Looking Statements Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forwardlooking 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.
Disclaimer:
Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.
All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated one thousand one hundred and fifty dollars cash and one thousand dollars worth of restricted stock for the creation and dissemination of this content.
This material does not represent an investment solicitation. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.
The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.
Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: http://spotlightgrowth.com/index.php/disclosures/
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