Alston Energy Inc. Announces the Filing of its Third Quarter Financial Statements and MD&A for 2012

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

($ thousands, except per share and production information)

      Three months ended September 30     Nine months ended September 30
                                   2012        2011      2012         2011
Sales
  Oil (bbls/d) 	274 	229 	  	279 	187
  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
Expenses 	  	  	  	  	 
  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
  Interest  	112 	38 	  	225 	196
  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)
  Other 	  	  	  	  	72
  Income (loss) 	(1,795) 	(732) 	  	(2,469) 	201
  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.



For further information:

Don Umbach, President & CEO
Telephone: (403) 265-2770 ext. 222
Fax: (403) 265-2775
Email: don.umbach@alstonenergy.ca

Pat Taguchi, Chief Financial Officer
Telephone: (403) 265-2770 ext. 228
Fax: (403) 265-2775
Email: ptaguchi@alstonenergy.ca
Web: www.alstonenergy.ca

Troy Winsor, VP Business Development
Telephone: 1-800-663-8072
Email: troyw1@telus.net