Alston Ventures Inc.
TSX VENTURE : ALO

Alston Ventures Inc.

December 07, 2010 09:54 ET

Alston Ventures Inc. Announces Production Test Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2010) - ALSTON VENTURES INC. (TSX VENTURE:ALO) ("ALSTON") is pleased to announce test results for the Company's first drilling operation at Alexander, Alberta as announced in a prior release dated December 1, 2010.

The new oil well has been tested over a 2-day period using swabbing equipment and in the last 7.48 hours of testing, the well produced, 209 barrels of oil and 8.09 thousand cubic feet of gas yielding a rate of 670.4 barrels of oil per day and 26.0 thousand cubic feet of gas per day, extrapolated over a 24 hour period.

Subject to regulatory approval, the Operator expects to have the new well equipped and on stream prior to the end of the year. The new well is expected to produce under pumping conditions at an initial rate of 200 barrels per day of oil and 7.75 thousand cubic feet of gas per day. Alston owns a 15% working interest in the well.

Alston has identified 5-6 follow-up locations on its land targeting this same high quality development oil pool. Alston's participating interests is 15% in the offset locations.

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
    President
    (403) 245-4261
    or
    Alston Ventures Inc.
    Troy Winsor
    CFO
    (604) 466-8934 or Toll Free: (800) 663-8072