Advantage Oil & Gas Ltd. is a growth-oriented corporation focused entirely on development of its significant position in the Montney natural gas and liquids resource play. The Corporation’s common shares trade on the Toronto and New York Stock Exchanges under the symbol AAV with its head office in Calgary, Alberta, Canada.

Advantage’s Montney resource play is located at Glacier, Alberta and has an estimated future drilling inventory of >1,000 horizontal well locations.  Total estimated capital expenditures over the life of the project could exceed $10 billion with significant reserves and production growth.  Production at Glacier has grown to 200 mmcfe/d (33,330 boe/d) with future growth targeted to achieve annual production of 235 mmcfe/d in 2017.

Advantage is well positioned with financial and operational flexibility, commodity price hedging and a highly experienced management team and staff to extract value from our Montney land base.

Operations

“Industry Leading Low Costs & Capital Efficiencies”

The company is focused primarily on development and delineation of its world class Montney natural gas and liquids resource at Glacier, Alberta. Since 2008, production has grown to approximately 200 mmcfe/d (33,330 boe/d) and 2P reserves have increased to 1.9 Tcfe at December 31, 2015. Improved well results and lower costs reduced originally estimated capital requirements by over $300 million to execute our 2015 through 2017 growth plan. Upper & Lower Montney wells generate rates of return in excess of 40% at $2.50/mcf Cdn AECO prices. And, our Middle Montney wells generate rates of return in excess of 20% at current gas and liquids pricing.