Advantagewon Targets Eagle Ford Shale Formation in Deep Test

Source Press Release
Company Advantagewon Oil Corp. 
Tags Discovery, Strategy - Upstream, Strategy - Corporate, Upstream Activities
Date February 19, 2019

Advantagewon Oil Corp., (CSE: AOC), (OTCQB: ANTGF), (the “Corporation”, “Advantagewon”, “AOC”) announced today that it has completed a geological study on the Corporation’s leases in Wilson County, Texas. As a result of the study, the Corporation has targeted additional zones on its leases with strong potential for oil production in the Eagle Ford formation. The Corporation proposes drilling a test well (“the Eaglewon Well”) into the Austin Chalk and Eagle Ford formations that are located on one of its leases located in Wilson County.

The Eagle Ford is a geological formation directly beneath the Austin Chalk. It is considered to be the "source rock", or the original source of hydrocarbons that are contained in the Austin Chalk above it. The Texas Railroad Commission, which regulates all oil and gas activity in the state, shows that wells that intersect the Eagle Ford formation in Wilson County alone have produced a total of 16,230,224 barrels of oil (average of 5558 bpod) and 7,001,970 mcf of natural gas in Wilson County between 2010 and 2018. Results obtained in the Eagle Ford formation do not necessarily reflect results that may be obtained from the Eaglewon well. The proposed Eaglewon Well is unrelated to the Poth Sand zone well that was previously announced by the Corporation in its January 17th, 2019 press release. The Poth Sand well is still scheduled to be completed by March 15th, 2019 The Corporation also announced today that due to the proposed commencement of the Eaglewon Well, and subsequent to its January 17th, 2019 news release, the Corporation has increased its non-brokered private placement to $1,000,000.00 CDN from $500,000.00 CDN via the issuance of up to 28,571,428 Units at a price of $0.035 per Unit. For complete terms of the Units please refer to the Corporation’s news release dated January 17th, 2019 which can be viewed by visiting the following website address: https://www.aoc-oil.com/press-releases

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd