Alexander Energy Ltd. Announces Details of Rights Offering

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Alexander Energy Ltd. (TSX VENTURE:ALX) ("Alexander" or the "Corporation") is
pleased to announce that it has set January 29, 2014 (the "Record Date") as the
record date for the previously announced rights offering (the "Rights Offering")
to the holders of common shares of Alexander ("Common Shares"). Pursuant to the
Rights Offering, each holder of Common Shares on the Record Date will receive
one transferable right (a "Right") for every Common Shares held. Every eight
Rights will entitle the holder to purchase one Common Share at a price of $0.15
until the Rights expire at 4:00 p.m. (Calgary time) on March 14, 2014 (the
"Expiry Date"). There is no additional subscription privilege and no standby
commitment in respect of the Rights Offering. The completion of the Rights
Offering is not subject to Alexander receiving any minimum amount of
subscriptions from shareholders.


The Rights Offering will be made in British Columbia, Alberta, Saskatchewan,
Manitoba, Ontario, Newfoundland, New Brunswick and Nova Scotia, and in such
other jurisdictions where Alexander is eligible to make such offering (the
"Qualifying Jurisdictions"). Details of the Rights Offering are described in the
Rights Offering Circular (as defined as below) to be mailed to shareholders in
connection with the Rights Offering as soon as practicable following the Record
Date.


The Corporation has received conditional approval from the TSX Venture Exchange
(the "TSXV") for posting and listing the Rights and the Common Shares issuable
thereunder, subject to the Corporation satisfying certain conditions pursuant to
the policies of the TSXV.


The Common Shares are expected to commence trading on the TSXV on an ex-rights
basis at the opening of business on January 27, 2014. This means that Common
Shares purchased on or following January 27, 2014 will not be entitled to
receive Rights under the Rights Offering. At that time, the Rights are expected
to be posted for trading on a "when issued" basis on the TSXV under the symbol
"ALX.RT". Trading of the Rights is expected to continue until 10:00 a.m.
(Calgary time) on the Expiry Date.


The holders of the Common Shares issued pursuant to the previously announced
non-brokered private placement as provided for in the reorganization agreement
dated December 5, 2013 among the Corporation and Richard F. McHardy, Michelle
Wiggins, Ed Wong, Fotis Kalantzis, Albert Stark and Thomas Boreen have agreed
not to participate in the Rights Offering and will not be entitled to exercise,
sell or convey any Rights issued in respect of such Common Shares. The holders
of securities to be issued pursuant to the brokered private placement of special
warrants or the non-brokered private placement of Common Shares announced by
Alexander on December 18, 2013 will not be entitled to participate in the Rights
Offering. Accordingly, a maximum of approximately 9 million Common Shares will
be issued pursuant to the Rights Offering for maximum gross aggregate proceeds
of approximately $1.3 million. Alexander will use the proceeds of the Rights
Offering for capital expenditures and general corporate purposes.


Pursuant to the requirements under applicable securities legislation, a rights
offering circular of the Corporation dated January 15, 2014 (the "Rights
Offering Circular") has been accepted for filing by the securities regulatory
authorities in the Qualifying Jurisdictions. The Rights Offering Circular and
related materials will be delivered to all shareholders of the Corporation as of
the Record Date. Rights certificates will be issued and forwarded by Alexander
only to holders of Common Share who are resident in one of the Qualifying
Jurisdictions.


Registered shareholders wishing to exercise their rights must forward the
completed rights certificates along with the applicable funds to the
subscription agent for the Rights Offering, Alliance Trust Company (the
"Subscription Agent"), by the Expiry Date. Shareholders who own their Common
Shares through an intermediary, such as a bank, trust company, securities dealer
or broker, will receive materials and instructions from their intermediary.


Rights certificates will not be issued and forwarded by Alexander to holders of
Common Shares not resident in the Qualifying Jurisdictions. Instead, Rights
otherwise issuable to such holders will be issued to and held, in trust, by the
Subscription Agent, which will use its reasonable commercial efforts to sell the
Rights on behalf of all such holders prior to the Expiry Date and then forward
the net proceeds pro rata to such holders.


Completion of the Rights Offering is subject to receiving all necessary
regulatory approvals, including, but not limited to, the TSXV.


About Alexander

Alexander Energy Ltd. is a Calgary, Alberta based company engaged in the oil and
gas exploration and development industry. The Corporation's Common Shares are
listed on the TSXV under the trading symbol "ALX".


Forward-Looking and Cautionary Statements

This news release may include forward-looking statements including opinions,
assumptions, estimates, and, more particularly, statements concerning the
completion of the Rights Offering and the number of securities issued by way of
the Rights Offering.


When used in this document, the words "will", "anticipate", "believe",
"estimate", "expect", "intent", "may", "project", "should", and similar
expressions are intended to be among the statements that identify
forward-looking statements.


The forward-looking statements are founded on the basis of expectations and
assumptions made by Alexander which include, but are not limited to, the timing
of the receipt of the required, regulatory and third party approvals, as well as
the satisfaction of other conditions pertaining to the completion of the Rights
Offering.


Forward-looking statements are subject to a wide range of risks and
uncertainties, and although Alexander believes that the expectations represented
by such forward-looking statements are reasonable, there can be no assurance
that such expectations will be realized.


Any number of important factors could cause actual results to differ materially
from those in the forward -looking statements including, but not limited to,
regulatory and third party approvals not being obtained in the manner or timing
anticipated, the ability to implement corporate strategies, the state of
domestic capital markets, the ability to obtain financing, changes in general
market conditions and other factors more fully described from time to time in
the reports and filings made by Alexander with securities regulatory
authorities.


Except as required by applicable laws, Alexander does not undertake any
obligation to publicly update or revise any forward-looking statements.


Neither the 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 news release.


This press release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities described herein. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act"), or any state securities laws and may not
be offered or sold within the United States or to United States Persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Alexander Energy Ltd.
Richard (Rick) McHardy
President and Chief Executive Officer
403.265.6444
403.264.1348 (FAX)


Alexander Energy Ltd.
Michelle Wiggins
Vice President, Finance and Chief Financial Officer
403.265.6444
403.264.1348 (FAX)