Alston Energy Inc. Announces Operations Update
08.04.2013 | CNW
CALGARY, April 8, 2013 /CNW/ - Alston Energy Inc. (TSX-V: ALO) ("Alston" or the "Company") is participating in completion and swab-testing operations in a recently drilled well at 03/07-07-56-26W4 in the Alexander area, (Alberta) targeting oil in the Detrital C oil pool. The well has been perforated and tested using swabbing equipment in the zone of interest. The Operator reports that swabbing operations recovered oil at average rate of 82 bbls/day (13m3/day) over the last 48 hours of the test period with an average gas rate of 70 mcf/day (2e3m3/day) and minimal water reported. Subject to weather conditions, the Operator plans to equip and tie-in the well immediately. The Company owns a 15% interest in the well.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.
Alston Energy Inc.
Don K. Umbach, President & CEO
Tel.: (403) 265-2770 Ext. 222
Email: don.umbach@alstonenergy.ca
Bruce Eckert, VP Operations & COO
Tel.: (403) 265-2770 Ext. 230
Email: beckert@alstonenergy.ca
Troy Winsor, VP Business Development
Tel.: 1-800-663-8072
Email: troyw1@telus.net
