Alexander Energy Ltd. Announces Effective Date of Share Consolidation and Name Change

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.


Alexander Energy Ltd. (TSX VENTURE:ALX) ("Alexander" or the "Corporation") is
pleased to announce that it has implemented its previously approved
consolidation of the common shares of the Corporation (the "Common Shares") on
the basis of one new Common Share for four existing Common Shares (the
"Consolidation") and a name change to "Spartan Energy Corp." (the "Name
Change"). The Consolidation and Name Change were approved at the special meeting
of the shareholders of the Corporation held on February 18, 2014.


Effective at the market opening on February 28, 2014, the Common Shares and the
rights of the Corporation currently listed on the TSX Venture Exchange under the
symbols "ALX" and "ALX.RT", respectively, will commence trading under the new
name "Spartan Energy Corp." and on a post-consolidated basis under the new
symbols "SPE" and "SPE.RT", respectively. 


As a result of the Consolidation, the Corporation has approximately 101,681,703
Common Shares outstanding. 


Pursuant to the acquisition of Renegade Petroleum Ltd. ("Renegade") announced on
February 11, 2014, the exchange ratio will be adjusted to reflect the
Consolidation such that each shareholder of Renegade will receive 0.5625 of a
post-Consolidation Common Share for each share of Renegade held. 


The number of rights outstanding pursuant to the Corporation's rights offering
(the "Rights") will not be affected by the Consolidation. However, outstanding
Rights will be adjusted proportionately to reflect the Consolidation such that
32 Rights will be exercisable for one Common Share at an exercise price of $0.60
per Common Share. 


Letters of transmittal were mailed to registered holders of Common Shares on
February 25, 2014, requesting them to forward the certificates representing
their Common Shares of Alexander Energy Ltd. to Alliance Trust Company
("Alliance") in exchange for certificates representing the number of Common
Shares of Spartan Energy Corp. to which they are entitled. If a registered
shareholder did not receive a letter of transmittal, please contact Alliance at
the contact information below. Registered holders of Rights of Alexander Energy
Ltd. are not required to exchange the certificates representing their Rights for
Rights of Spartan Energy Corp.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Alliance Trust Company
#450, 407 - 2nd Street S.W.
Calgary, Alberta T2P 2Y3
403.237.6111
403.237.6181 (FAX)
[e-mail]


Alexander Energy Ltd.
Richard (Rick) McHardy
President and Chief Executive Officer


Alexander Energy Ltd.
Michelle Wiggins
Vice President, Finance and Chief Financial Officer


Spartan Energy Corp.
Suite 1540, 521 - 3rd Ave S.W.
Calgary, Alberta T2P 3T3
403.265.6444
403.264.1348 (FAX)
[e-mail]