Alston Ventures Inc.

Alston Ventures Inc.

June 16, 2011 09:00 ET

Alston Ventures Inc. Announces Operations Update

CALGARY, ALBERTA--(Marketwire - June 16, 2011) -ALSTON VENTURES INC. (TSX VENTURE:ALO) ("ALSTON") is pleased to announce a successful production test at the first of two wells drilled in the Alexander area of central Alberta.

After 40 hours of swabbing and flowing operations at 13-07-56-26W4, the Operator reports that the well produced at an average rate of 127 bbls/d of oil and 1.366 million cubic feet per day of natural gas or approximately 360 barrels of oil equivalent per day.

Alston believes this well is completed in the same Lower BQ/Ellerslie oil pool as two other wells at 11-07-56-26W4 and 06-07-56-26W4M. Plans are already under way to tie-in this well, which is expected to produce at rates comparable to the well at 11-07. Alston owns 15% working interest in this well and the 06-07 well and an after-payout interest of 15% in the 11-07 well.

Testing operations are also currently under way on a second well at 102/10-07-56-26W4 targeting oil in the Alexander sandstone. The Alexander sandstone has already produced 5,414 bbls of oil in 212 days at the 11-07-56-26W4 well before being shut-in in favour of the Lower BQ/Ellerslie pool as noted above. Alston owns a 15% working interest in the 102/10-07 well. Test results for this well will be released when available.

Alston Ventures Inc. is a Calgary-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

BOEsmay 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

    Alston Ventures Inc.
    Troy Winsor
    (604) 466-8934 or Toll Free: (800) 663-8072
    (403) 229-9128 (FAX)