CALGARY, May 1, 2013 /CNW/ - Alston Energy Inc. ("Alston" or the "Company") is pleased to announce that it has filed its audited financial statements and related management's discussion and analysis for the year ended December 31, 2012 with the Canadian securities regulatory authorities on SEDAR at www.sedar.com.
In addition, the Company has filed its statement of reserves data and other oil and gas information for the year ended December 31, 2012 as mandated by National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") of the Canadian Securities Administrators.
Alston's reserves were evaluated as at December 31, 2012 by McDaniel & Associates Consultants Ltd. ("McDaniel"), an independent engineering firm. McDaniel's evaluation was conducted in accordance with standards set out in the Canadian Oil and Gas Evaluation Handbook and is compliant with NI 51- 101.
Alston Energy Inc. is a publicly traded, junior oil & gas producing Company with high quality assets in Central Alberta. Our focus is on creating a portfolio of repeatable drilling opportunities targeting shallow to medium depth oil bearing formations in Alberta and Saskatchewan. Alston's management team has a proven track record of executing strategic acquisitions and utilizing new technologies to exploit conventional and unconventional resources.
Alston Energy Inc. trades on the TSX Venture Exchange under the trading symbol ALO. For additional information about Alston please visit our website www.alstonenergy.ca or under the company profile on SEDAR www.sedar.com.
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.
Conversion: BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.
SOURCE: Alston Energy Inc.
For further information:
ALSTON ENERGY INC.
Don K. Umbach, President & CEO
Tel.: (403) 265-2770 Ext. 222
Bruce Eckert, VP Operations & COO
Tel.: (403) 265-2770 Ext. 230
Troy Winsor, VP Business Development