Advantage Oil & Gas Ltd

(AAV)

Advantage Oil and Gas Ltd. is an intermediate oil and natural gas corporation with properties located in Western Canada. 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 converted from a royalty trust to a growth oriented corporation with a specific focus on developing its significant Montney natural gas resource play at Glacier, Alberta. With an estimated drilling inventory of over 500 horizontal well locations at Glacier and total project capital expenditures that could exceed $2.5 billion, significant reserves and production growth is anticipated to grow shareholder value. In support of project development at Glacier, cash flow is obtained from a focused asset base consisting of long life oil and natural gas assets that have a reserve life index of 17.6 years and production of approximately 23,000 boe per day weighted 65% to natural gas and 35% to oil and natural gas liquids.