August 16, 2018 - 8:45 AM EDT
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Advantagewon Provides Production Update

Toronto, Ontario--(Newsfile Corp. - August 16, 2018) - Advantagewon Oil Corp. (CSE: AOC) (OTCQB: ANTGF) (the "Corporation", "Advantagewon", "AOC") provided today an update on the production increase achieved on the 32 additional wells recently put back into production.

As previously announced in the Corporation's July 23, 2018 press release, the Corporation anticipated that combined production from these 32 wells would ultimately add approximately 16 to 64 barrels of oil per day ("bopd") and indicated it would provide a progress report mid-August. As of the date of this press release, the 32 wells have added production of 22 bopd. The Corporation is continuing work to better equip some of these wells and anticipates further improvements. Operations are underway on additional wells to improve their deliverability.

As stated in the Corporation's April 30, 2018 press release, the Corporation has been diligently working on identifying and evaluating opportunities in the LaVernia area. This work was instrumental in increasing the undiscounted reserve value in LaVernia which, as stated in the Corporation's NI 51-101 Report, increased from $98,712,300 USD in 2016 to $175,867,450 USD in 2017, representing a 78% increase in the undiscounted reserve value.

The Corporation has prepared the first of the two wells drilled last March for the frac to address the formation damage. The procedure on the well has been delayed as cost quotes on the frac on the single well have been high and additional quotes have been requested.

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.

For further information please contact:

Mr. Charles Dove
CEO & Director
Advantagewon Oil Corp.
T: (403) 815-2440
E: [email protected]
W: www.aoc-oil.com

Mr. Paul Haber
Chairman & Director
Advantagewon Oil Corp.
T: (416) 318-6501
E: [email protected]
W: www.aoc-oil.com

Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp.
T: (647) 466-4037
E: [email protected]
W: www.aoc-oil.com

Forward-Looking Statements

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.

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Source: Newsfile Corp. (August 16, 2018 - 8:45 AM EDT)

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