Toronto, Ontario – Advantagewon Oil Corp., (CSE: AOC), (OTC Pink: ANTGF), (the “Corporation”, “Advantagewon”, “AOC”) announced today that further to its press release previously issued on February 3, 2020 that the Corporation has completed all of the work on its second Canadian well. The Corporation is pleased to announce that the work was successful, and oil has been discovered. The Corporation is in the process of tying in the well and expects to be able to report flow rates in the next 7 to 10 business days. The Corporation will receive 100% of the net revenue until it has recovered the cost of well estimated at $80,000 CDN after which time it will become a 75% working interest owner.
The Corporation also announced that it has received notice of dispute with respect to its first well. The Corporation has engaged legal counsel and is reviewing various options, but the Corporation believes that the dispute is without merit.
The Corporation is looking at several additional opportunities and will announce the additional acquisitions once completed.
The Corporation also announced today that it has entered into a debt for shares settlement with a Director of the Corporation. The Corporation issued 2,000,000 Common Shares at a price of $0.01 CDN per Common Share to settle debts totaling $20,000.00 CDN owed and due to the Director.
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
