Anderson Energy Ltd.

Anderson Energy Ltd.

January 23, 2015 12:11 ET

Anderson Energy Inc. Announces Closing of Plan of Arrangement

CALGARY, ALBERTA--(Marketwired - Jan. 23, 2015) - Anderson Energy Inc. (the "Company") (TSX:AXL) announces the completion of the previously announced reorganization of the business of Anderson Energy Ltd. ("Prior Anderson") pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement").

Under the terms of the Arrangement, approximately 92% of the oil and gas assets1 previously owned and operated by Prior Anderson have been transferred to the Company and all of the outstanding shares of Prior Anderson ("Prior Anderson Shares") have been sold to Freehold Royalties Ltd. together with certain non-core, predominantly shallow gas assets for aggregate consideration of $35 million.

Registered holders of Prior Anderson Shares (the "Prior Anderson Shareholders") are encouraged to complete, execute and submit the Letter of Transmittal included in the accompanying materials sent to Prior Anderson Shareholders for the special meeting of Prior Anderson Shareholders held on January 22, 2015 as soon as possible. Any questions and requests for assistance in respect of the Letter of Transmittal may be directed to Valiant Trust Company at its telephone numbers and locations set out in the Letter of Transmittal.

Detailed information regarding the Arrangement can be found in Prior Anderson's management information circular dated December 19, 2014, which is available electronically at or from the Company on request.

1 Based upon the pre-tax net present value of proved and probable reserves, using a 10% discount rate, as set forth in the April 30, 2014 modified corporate look-ahead analysis of the Prior Anderson's reserves prepared by GLJ Petroleum Consultants Ltd.

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