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.
SOURCE Alston Energy Inc.