Resignations & the missing 200 boed Gas? Trying to figure this out.
According to Alston's web-site, Provost and Newton are our other two core areas. so looking at Alexander, Management is 165 boed below production projections on this acquisition where the CEO and BOD gave away 13% of the ALO. Is this right?
Calgary, AB. March 12, 2013
Alston Energy Inc. (TSX-V: ALO) ("Alston” or the “Company") wishes to announce the resignation of Ryan Dunfield from the Board of Directors of the Company. As a result of his other commitments, Mr. Dunfield feels that he is not able to devote sufficient time to the direction of the Company; an
d therefore, he has resigned effective as of the date hereof. “The Company thanks Mr. Dunfield for his valuable contributions to Alston over the past two years and wish him all the best in his future endeavors.”
ALSTON ENERGY INC. Announces Operations Update and Normal Course Issuer Bid Activity
Calgary, AB. February 14, 2013.................Alston has acquired 790,000 common shares of the Company under the Normal Course Issuer Bid announced November22, 2012, (the “Bid”) at an average price of $0.035 per share.The shares have been returned to treasury for cancellation. It is expected that the Bid will continue until November26, 2013, or such other date as Alston has purchased the maximum 4,124,324 Common Shares under the Bid........Alston hasretained Integral Wealth Securities Limited has its broker to conduct the Bid on Alston’s behalf.
1./ Why was the normal course Issuer bid announced?..
2./ Was it in reaction to counter the Alexnader Purchase described below in the July 12, 2012 Release as 225 boed but whichis apparently only 60 boed as evidenced by PwrPt Sheet on ALO's website?
3./ Is there more than meets the eye as reasons for the resignations ...Mar 12th, 2013 the Director resignation of Bryan Dunfield and on Dec 10, 2012 V.P. Finance - CFO Pat Taguchi in favor of new V.P. Finance - CFO Neil Burrows.
Checking the monthly burn rate but have the approx 13% Dilution for the transaction figured out.
Calgary, AB. March 12, 2013
Alston Energy Inc. (TSX-V: ALO) ("Alston” or the “Company") wishes to announce the resignation of Ryan Dunfield from the Board of Directors of the Company. As a result of his other commitments, Mr. Dunfield feels that he is not able to devote sufficient time to the direction of the Company; an
d therefore, he has resigned effective as of the date hereof. “The Company thanks Mr. Dunfield for his valuable contributions to Alston over the past two years and wish him all the best in his future endeavors.”
***On Alston's web-site it says if I read this right that the "core Alexander Area, presumably this acquisition is only producing 60 BOED well below the 225 BOED Natural Gas trumpeted below for 13% of the company.***
FROM POWERPOINT ON WEB-SITE under ALEXANDER
Current Production–60 boed
?13 gas/oilwells
?10% – 15% WI (non-operated property)
?10% WI in gas plant and sales line
Development Potential
?Multi-zone producing horizons
?Detrital,Ostracod,Lower BQ
?Infill drilling potential
Crescent Point Asset Acquisition Completed /Amalgamation with CanRock Energy Corp. Completed /New Board of Directors and Management / NewLoan Fcility /
Private Loan Facility Amended July 18, 2012–Calgary, Alberta –Alston Energy Inc. (TSX V: ALO) (“Alston”)
is pleased to announce an update on the status of the following previously announced matters:-
Alston has completed the acquisitionfrom Crescent Point Resources Partnership
of certain natural gas properties near Alexander, Alberta, which include
approximately 225 boe/d of primarily natural gas production, in consideration
of the issuance to Crescent Point Energy Corp.("Crescent Point") of
21,666,667 units (the"Units") of Alston at an effective issue price of $0.15 per Unit.
Each Unit is comprised of one common share (a "Common Share") of Alston and one-half of one common share purchase warrant of Alston (each whole warrant, a "Warrant"). Each Warrant entitles Crescent Point to acquire one Common Share of Alston at a price of $0.20 perCommon Share within 18 months from July 17, 2012.
As a result of the acquisition of the Units,Crescent Point now owns or controls 21,666,667 Common Shares of Alston,representing approximately 13 percent of the issued and
outstanding Common Shares of Alston, and 10,833.334 Warrants that, if exercised, would represent approximately an additional seven percent of the presently issued and outstanding
Common Shares of Alston.
-Alston has completed a vertical amalgamation with CanRock Energy Corp. ("
CanRock") under the name of Alston Energy Inc. following the court approved plan of arrangement and the filing of articles of arrangement pursuant to which Alston acquired all of the outstanding common shares of CanRock (the "Arrangement").
-In connection with the closing of the Arrangement, Alston's new board of directors now comprises Don Umbach, Bruce Eckert, Wayne Babcock, Jack Donhuysen, Dennis Nerland and Ryan Dunfield,and Alston's management team now comprises Don Umbach as President, Chief Executive Officerand Corporate Secretary, Bruce Eckert as Chief Operating Officer, Patricia Taguchi as Chief Financial Officer, Don Martin as Vice President, Exploration, and Troy Winsor as Vice President, Business Development.
Alston is also pleased to announce that:
-it has entered intoa revolving production loan facility in the amount of Cdn. $9,000,000 and a revolving acquisition loan facility of Cdn. $2,500,000 with Alberta Treasury Branches
.
For further information, please contact: