Alston Ventures Inc.

Alston Ventures Inc.

March 22, 2011 09:00 ET

Alston Ventures Inc. Announces Operations Update

CALGARY, ALBERTA--(Marketwire - March 22, 2011) - ALSTON VENTURES INC. (TSX VENTURE:ALO) ("ALSTON") expects to spud the first of three wells later today at Alexander, Alberta. The Operator plans to follow this well by drilling a second well prior to spring break-up, weather permitting. A third well is currently being licensed for drilling after spring break-up.

All three wells are targeting a new pool oil discovery in the area. Alston owns a 15% working interest in all three proposed locations. In February, the new oil pool produced 378 Boe/day from two wells. Alston owns a 15% working interest in one of the producing wells and owns an after-payout interest of 15% in the other well (the "discovery well"). The discovery well is expected to reach payout later this year.

Alston Ventures Inc. is a Canadian-based energy company engaged in the production and exploration of oil and natural gas reserves in western Canada's sedimentary basins. 

Alston Ventures Inc.

Don K. Umbach, President

BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Neither 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 release.

Contact Information

  • Alston Ventures Inc.
    Don K. Umbach
    (403) 245-4261
    (403) 229-9128 (FAX)
    Alston Ventures Inc.
    Troy Winsor
    (604) 466-8934 or Toll Free: (800) 663-8072