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Press release from CNW Group

Advantage Announces New Natural Gas Commodity Price Hedges

Tuesday, March 19, 2013

Advantage Announces New Natural Gas Commodity Price Hedges16:45 EDT Tuesday, March 19, 2013(TSX: AAV, NYSE: AAV)CALGARY, March 19, 2013 /CNW/ - 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:             Period Average Volume Hedged Average Price$Cdn. AECO2013 Year      29,224 mcf/d      $3.31/mcf2014 Year      33,174 mcf/d      $3.78/mcf2015 Q1      33,174 mcf/d      $4.01/mcf             Below is a detailed list of individual derivative contracts as at March 18, 2013:                             Average PriceDescription of Derivative     Term    Volume    $Cdn. AECONatural gas - AECO               Fixed price      January 2013 to December 2013    14,217 mcf/d    $3.51/mcf Fixed price      April 2013 to October 2013    9,478 mcf/d    $3.14/mcf Fixed price      April 2013 to October 2013    9,478 mcf/d    $3.17/mcf Fixed price     April 2013 to October 2013    4,739 mcf/d    $2.95/mcf Fixed price     July 2013 to September 2013    4,739 mcf/d    $3.22/mcf Fixed price     January 2014 to March 2014    14,217 mcf/d    $3.85/mcf Fixed price     January 2014 to March 2014    18,956 mcf/d    $3.84/mcf Fixed price     April 2014 to October 2014    14,217 mcf/d    $3.68/mcf Fixed price     April 2014 to October 2014    18,956 mcf/d    $3.68/mcf Fixed price     November 2014 to March 2015    14,217 mcf/d    $4.02/mcf Fixed price     November 2014 to March 2015    18,956 mcf/d    $4.01/mcf              SOURCE: Advantage Oil & Gas Ltd.For further information: Investor RelationsToll 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