Alston Energy Inc. Announces the Filing of its Third Quarter Financial Statements and MD&A for 2012
TSX Venture Exchange Trading Symbol: ALO
CALGARY, Nov. 29, 2012 /CNW/ - Alston Energy Inc. ("Alston" or the "Company") is pleased to announce that it has filed its interim financial statements and related management's discussion and analysis ("MD&A") for the nine months ended September 30, 2012 with the Canadian securities regulatory authorities on SEDAR at www.sedar.com. Selected financial and operational information is outlined below and should be read in conjunction with the financial statements and related MD&A.
The related documents can also be found on the Company's website www.alstonenergy.ca.
|SUMMARY FINANCIAL RESULTS|
|Three months ended September 30||Nine months ended September 30|
|($ thousands, except per share and production information)|
|Natural gas (mcf/d)||1,093||615||763||733|
|Oil ($ per bbl)||64.08||67.99||74.17||69.33|
|Natural gas ($/mcf)||2.33||3.59||2.08||3.73|
|Summary statement of income|
|Revenue, net of royalties||1,916||1,705||5,798||4,467|
|Operating and transportation||1,102||1,035||3,336||2,263|
|Depletion and depreciation||1,348||892||2,484||1,943|
|Exploration and evaluation||-||-||10||-|
|Impairment (recovery) of E&E and PP&E||-||(751)||-||(941)|
|Costs related to reverse acquisition||354||-||354||-|
|General and administrative||585||314||1,636||1,428|
|Stock based compensation||46||118||137||360|
|Accretion and finance||(2)||23||114||48|
|Realized (gain) on financial instrument||(46)||(99)||(92)||(103)|
|Unrealized (gain) loss on financial instrument||212||(596)||62||(1,001)|
|Income (loss) per share(2)||(0.01)||0.03||(0.04)||0.02|
|Net working capital (deficit)(1)||(8,627)||(841)||(8,627)||(109)|
|(1)||"Total net working capital" is calculated as current assets less current liabilities.|
|(2)||Due to the anti-dilutive effect of the Corporation's net loss for the three and nine months ended September 30, 2012, the diluted number of shares is equal to the basic number of shares. Therefore, diluted per share amounts of the net loss and cash flow from operations are equivalent to basic per share amounts.|
About Alston Energy Inc.
Alston Energy Inc. is a publicly traded junior oil producer targeting oil-based opportunities in Western Canada. The Company is focused on strategic oil-based acquisitions within its core areas, in addition to exploiting and exploring for incremental production and reserves.
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 press release.
SOURCE: Alston Energy Inc.For further information:
Don Umbach, President & CEO
Telephone: (403) 265-2770 ext. 222
Fax: (403) 265-2775
Pat Taguchi, Chief Financial Officer
Telephone: (403) 265-2770 ext. 228
Fax: (403) 265-2775
Troy Winsor, VP Business Development