August 25, 2014, Toronto, Canada – GC-Global Capital Corp.’s (GDE.A:TSXV) (“Global Capital”) client company, Advantagewon Oil Corp. (“Advantagewon” “AOC”), has scheduled the end of August for the start of their second drilling program on its Saratoga oil property in the state of Texas. As Global Capital announced in June, AOC had entered into a secured $1,000,000 operating line agreement with the Company. The initial advance of $600,000 was made August 25th.
Global also is pleased to announce the drilling results for AOC’s Marlatt #1 well on its Saratoga oil field earlier this summer.
The Marlatt 1 well was drilled to a total depth of 5,500 feet and is now tied-in and producing at a rate of 70 bpd.
AOC holds a 100% working interest and a 77.5% net interest in its Texas oil field.
Advantagewon Oil Corp. was originally formed to take advantage of opportunities in the Texas oil patch. Management’s focus is to build AOC into a substantial dividend paying company focused on smaller oil plays in Texas.
Global Capital also announces that effective August 22, 2014 Mr. Robert Parent has resigned from the Board of Directors due to personal reasons. Mr. Parent first joined the Board 2011. Mr. Jason Ewart, commented “I wanted to personally thank Robert for his contribution as a member of the Board of Directors and wish him best of luck in his future endeavors.”
About GC-Global Capital Corp.
Global Capital is a merchant bank, which provides bridge loan services (asset back/collateralized financing), to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. For further information, please contact Jason G. Ewart at (416) 488-7760 or visit Global Capital’s website at www.gcglobalcapital.ca.
About Advantagewon Oil Corp.
Advantagewon Oil Corp. is a Texas based oil production company. For further information, please contact Paul Haber, the Executive Chairman and Interim Chief Executive Officer, at email@example.com.
This news release includes forward-looking statements related to the expected occurrences in relation to the properties and drilling activities identified. A multitude of factors can cause actual events to differ significantly from any anticipated development and although AOC believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. These forward looking statements are based upon assumptions that AOC has made concerning the reliability of available data regarding its properties. Neither AOC nor any of its subsidiaries nor any of its officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors, nor do any of the foregoing accept any responsibility for the future accuracy of the opinions expressed in this document or the actual occurrence of the forecasted developments.
Although the Company believes that the expectations represented by the forward-looking statements contained herein are reasonable, undue reliance should not be placed on the forward-looking statements because there can be no assurance that such expectations will be realized. The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forwardlooking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Data obtained from the initial testing results at the well identified in this press release, including barrels of oil produced
and levels of water-cut, should be considered to be preliminary until a further and detailed analysis or interpretation has been done on such data. The well test results obtained and disclosed in this press release are not necessarily indicative of long-term performance or of ultimate recovery. The reader is cautioned not to unduly rely on such results as such results may not be indicative of future performance of the well or of expected production results for the Company in the future.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.