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
		2012	2011		2012	2011
($ thousands, except per share and production information)
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.

 

SOURCE: Alston Energy Inc.

Don Umbach, President & CEO 
Telephone: [phone] ext. 222 
Fax: [phone] 
Email: [email protected]

or

Pat Taguchi, Chief Financial Officer 
Telephone: [phone] ext. 228 
Fax: [phone] 
Email: [email protected]

Web: www.alstonenergy.ca

OR

Troy Winsor, VP Business Development 
Telephone: [phone] 
Email: [email protected]