Advantage Announces New Natural Gas Commodity Price Hedges

          Advantage Announces New Natural Gas Commodity Price Hedges

PR Newswire

CALGARY, March 19, 2013

(TSX: AAV, NYSE: AAV)

CALGARY, March 19, 2013 /PRNewswire/ - Advantage Oil & Gas Ltd. ("Advantage"
or the "Corporation") announces that it has entered into new natural gas
commodity price hedges for 2014 and 2015. Advantage has now hedged the
following average production volumes at the corresponding averages prices for
the periods as follows:

                                          
                                                      Average Price
Period              Average Volume Hedged            $Cdn. AECO
2013 Year          29,224 mcf/d             $3.31/mcf
2014 Year          33,174 mcf/d             $3.78/mcf
2015 Q1            33,174 mcf/d             $4.01/mcf
                                          

Below is a detailed  list of individual derivative  contracts as at March  18, 
2013:

                                                          
                                                            Average
                                                                 Price
Description of                                            
Derivative                       Term            Volume       $Cdn. AECO
Natural gas - AECO                                          
    Fixed price         January 2013 to       14,217   
                            December 2013         mcf/d        $3.51/mcf
    Fixed price          April 2013 to        9,478    
                             October 2013         mcf/d        $3.14/mcf
    Fixed price          April 2013 to        9,478    
                             October 2013         mcf/d        $3.17/mcf
    Fixed price          April 2013 to        4,739    
                             October 2013         mcf/d        $2.95/mcf
    Fixed price          July 2013 to         4,739    
                            September 2013        mcf/d        $3.22/mcf
    Fixed price         January 2014 to       14,217   
                              March 2014          mcf/d        $3.85/mcf
    Fixed price         January 2014 to       18,956   
                              March 2014          mcf/d        $3.84/mcf
    Fixed price          April 2014 to        14,217   
                             October 2014         mcf/d        $3.68/mcf
    Fixed price          April 2014 to        18,956   
                             October 2014         mcf/d        $3.68/mcf
    Fixed price         November 2014 to      14,217   
                              March 2015          mcf/d        $4.02/mcf
    Fixed price        November 2014 to       18,956   
                              March 2015          mcf/d        $4.01/mcf
                                                   



SOURCE Advantage Oil & Gas Ltd.

Contact:

Investor Relations
Toll free: 1-866-393-0393

ADVANTAGE OIL & GAS LTD.
700, 400 - 3rd Avenue SW
Calgary, Alberta
T2P 4H2
Phone: (403) 718-8000
Fax: (403) 718-8300
Web Site:www.advantageog.com
 
Press spacebar to pause and continue. Press esc to stop.