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Advantagewon Oil Corp CSE:AOC

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    #61
    Lerma AC well - operator error caused new pump to fail. Well is flowing.

    Rick

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      #62
      Shale Shifts Attention To This ‘Forgotten’ Oil Play

      https://oilprice.com/Energy/Crude-Oi...-Oil-Play.html

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        #63
        Good thing they didn't try and raise money over .10c...

        Advantagewon Oil arranges $1-million private placement 2018-07-09 10:31 ET - News Release



        Mr. Charles Dove reports

        ADVANTAGEWON ANNOUNCES A $1M CDN NON-BROKERED PRIVATE PLACEMENT OF UNITS

        Advantagewon Oil Corp. is conducting a non-brokered private placement financing of up to $1-million through the issuance of up to 20 million units at price of five cents per unit. Each unit will consist of one common share in the capital of the corporation and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one common share of the corporation at an exercise price of 10 cents per common share for a period of 24 months from the closing of the financing, subject to accelerated expiry in the event the closing price of the corporation's shares closes at or greater than 15 cents for 10 consecutive trading days.

        All common shares issued in connection with this placement will be subject to a four-month-plus-one-day hold period under applicable Canadian securities laws. Finders' fees may be payable on a portion of the private placement to eligible finders of 8 per cent. All proceeds from the financing will be used for drilling and general working capital purposes.

        The offering will permit participation of existing shareholders of the corporation who held shares of the corporation as of July 5, 2018, and who continue to hold shares of the company as of the closing date of the offering, pursuant to the existing securityholder prospectus exemption available under Ontario Securities Commission Rule 45-501, Ontario Prospectus and Registration Exemptions, and equivalent provisions of other applicable securities laws. In addition, for those shareholders and for others who do not qualify under the existing shareholder exemption, such persons may qualify to participate under other prospectus exemptions, such as the accredited investor (as the term is defined in the Securities Act (Ontario) or other legislation applicable in the jurisdiction in which such subscriber resides) prospectus exemption.

        To participate, shareholders relying on the existing shareholder exemption will be required to represent, in writing, certain requirements of the existing shareholder exemption, including that they were as of the record date and continue to be, as of the closing date, a shareholder of the company, and that they are purchasing the offering shares as principal for their own accounts. The aggregate acquisition cost to a shareholder relying on the existing shareholder exemption, and not the accredited investor prospectus exemption, cannot exceed $15,000 in the 12-month period immediately preceding the closing date of the offering, unless that shareholder has obtained advice regarding suitability of the investment from a registered investment dealer in the shareholder's jurisdiction. The minimum subscription amount for shareholders relying on the existing shareholder exemption is $5,000 (the minimum subscription).

        About Advantagewon Oil Corp.

        Advantagewon is focused on building consistent cash flow from low-cost, low-risk oil wells in the state of Texas. Advantagewon applies specialized expertise to increase oil recovery from 10 per cent to 15 per cent to up to 75 per cent for each well. Once the enhanced recovery strategy is successfully applied, Advantagewon will repeat the process throughout the oil pool to maximize output and minimize cost and risk.

        We seek Safe Harbor.

        © 2018 Canjex Publishing Ltd. All rights reserved.

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          #64
          ADVANTAGEWON PROVIDES WISEMAN LEASE PRODUCTION UPDATE AND FINANCIAL HIGHLIGHTS

          Advantagewon Oil Corp. has provided an update on the production at its Wiseman lease in the LaVernia area of Texas.

          The Corporation's three wells on the Wiseman lease are now all on production. Two of these wells were completed with a frac last year and with electrical power lines constructed earlier this year have been equipped and production commenced in July. These wells are showing increasing oil recoveries as the injected frac fluid is recovered. Current oil production is 5 barrels of oil per day however oil production is expected to increase as the remaining frac fluid is recovered.

          Advantagewon is pleased to report increased revenues for the three months and six months ending June 30, 2018 over the same periods in 2017.

          Total Revenue for the three months ended June 30, 2018 (Q2) increased to $239,095.00 CDN in 2018 from $130,728.00 CDN in Q2 2017, representing an increase of 83%.

          Total Revenue for the Six months ended June 30, 2018 increased to $427,145.00 CDN from $264,600.00 CDN for the Six months ended June 30, 2017, representing an increase of 61%.

          Mr. Paul Haber, Chairman Stated: "Since Mr. Dove was appointed as our CEO back in December of 2017, he has been instrumental in both locating and putting oil wells back online. Since May of this year, he has assembled a highly qualified and experienced management and operations team and they have rehabilitated 32 wells on our properties. With WTI prices now hovering around $70USD per barrel, the 32 wells have unlocked approximately $63,000.00 USD in gross revenue on a monthly basis for the Corporation which is reflected in our Q2, 2018 revenue totals. This has been accomplished with minimal costs incurred and minimum risk to the Corporation. In recommissioning these wells, Mr. Dove's and his team's work on the Corporation's oil properties this year has also allowed the Corporation to identify and target multiple compelling new drilling locations on its properties. The size of our combined land holdings is significant as is our existing reserve potential in zones including shallow oil sands and deeper oil zones including the Austin Chalk. Our year end 2017 51-101 report showed a 78% increase in undiscounted reserve value. The revenue growth of 83% and 63% announced above shows progress towards realization of Advantagewon's production potential."

          About Advantagewon Oil Corp.

          Advantagewon is focused on building consistent cash flow from low cost, low risk oil wells in the State of Texas. AOC applies specialized expertise to increase oil recovery from 10-15% to up to 75% for each well. 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'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.

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            #65
            ADVANTAGEWON ANNOUNCES REDEMPTION OF SECURITIES HELD, DEBT REDUCTION, CASH RECEIVED AND PAYMENTS DUE

            Advantagewon Oil Corp. has provided an update on redemption of securities held, debt reduction, cash received and payments due.

            As detailed in the Corporation Q2 Financial Statements, on July 6, 2018, an agreement was reached with Gunpowder Capital Corp. ("Gunpowder", "GPC") for the redemption of 91,470 Class - A Preferred Shares of GPC previously owned by the Corporation.

            Gunpowder has redeemed 91,470 Class - A Preferred Shares for net proceeds of $832,230. These proceeds were applied to debt owed by AOC to GPC. The total debt owed to GPC of $442,792 was fully retired eliminating monthly principal payments of $15,000 CDN plus interest at an average rate of 14.2 % per annum. $142,207 was received as cash and the remaining $238,231 will be paid in seven installments of $34,033. As of the date of this press release payments have been received for August and September 2018.

            The Corporation has entered into an agreement whereby two of the Directors of the Corporation and certain contractors have agreed to receive their compensation in common shares of the Corporation at a deemed price of $0.08 CDN per common share. Over the next year, a total of 3,085,000 shares will be issued in place of cash payments of $246,800 to these Directors and contractors. All shares issued in will be subject to a four month plus one day hold period under applicable Canadian securities laws.

            Mr. Charles Dove Stated: "The retirement of the debt announced and payment in shares to certain Board members and contractors as stated above will save the Corporation approximately $39,000 CDN per month in cash expenditures. The Corporation is working to both rapidly increase its incoming revenues and decrease its debt and other payment obligations. I appreciate the confidence the Board members and contractors have shown in accepting compensation in shares vs. cash. As stated in the Corporation's Sept 5th, 2018 press release, the Corporation has recently unlocked $63,000.00 USD in gross revenue on a monthly basis by simply locating and recommissioning inactive wells on our properties. We anticipate further increased production from these recommissioned wells combined with further increased production from the wells recently put online at our Wiseman lease."

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