Alston Energy Inc. Announces Crude Oil Hedge Contracts

Alston Energy Inc. (TSX VENTURE:ALO) ("Alston" or the "Company") is currently
producing approximately 450 BOE/d of which, 60% or 270 barrels per day is crude
oil. Alston has elected to manage the crude oil commodity price risk with two
new contracts for 2013 and 2014.  


As at January 17, 2013, the details of the these commodity price risk management
arrangements are as follows;




-------------------------------------------------------------------------
                                          Price        Price             
Type          Period         Volume       Floor        Ceiling      Index
-------------------------------------------------------------------------
Crude Oil     Feb 1, 2013    100 bbls/d   $98.50 USD   $98.50 USD   WTI  
 fixed Swap   to                                                         
              Dec 31, 2013                                               
-------------------------------------------------------------------------
Crude Oil     Jan 1, 2014    150 bbls/d   $98.50 USD   $98.50 USD   WTI  
 Call Option  to                                                         
              Dec 31, 2014                                               
-------------------------------------------------------------------------
Crude Oil     Feb 1, 2013    75 bbls/d    $85.00 CAD   $98.50 CAD   WTI  
 Collar       to                                                         
              Dec 31, 2013                                               
-------------------------------------------------------------------------



The first contract is described as an "Extendable Swap" having an effective date
of February 1, 2013 and an expiration date of December 31, 2013. Under this
contract, the Buyer and Seller agree to swap 100 barrels of oil per day, over
each month of the contract, at a fixed amount of $98.5 per barrel USD against a
floating price based on an un-weighted arithmetic average of the daily
settlement price per barrel of West Texas Intermediate Light Sweet Crude Oil for
the same period. The contract is extendable at the option of the Buyer on
December 31, 2013 for one year based on 150 barrels per day at the same fixed
amount.


The second contract is described as a "Costless Collar" having an effective date
of February 1, 2013 and an expiration date of December 31, 2013. Under this
contract, the Buyer and Seller agree to swap 75 barrels of oil per day, for each
month of the contract, at an amount between $85 per barrel CAD and $98.50 per
barrel CAD against a floating price based on an un-weighted arithmetic average
of the daily settlement price per barrel of West Texas Intermediate Light Sweet
Crude Oil for the same period multiplied by the noon Canadian/US exchange rate
each day. 


About Alston Energy Inc.: Alston is a junior oil and gas company, incorporated
in Alberta with its Common Shares listed on the TSXV. Its primary exploration
focus is in Central and east-Central Alberta. More information about Alston can
be found on SEDAR under the company's profile at www.sedar.com.


Conversion: BOEs may be misleading, particularly if used in isolation. A BOE
conversion ratio of 6 Mcf:1 bbl is based on an energy equivalency conversion
method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead. Given that the value ratio based on the current
price of crude oil as compared to natural gas is significantly different from
the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be
misleading as an indication of value. 


This press release is not an offer of the securities for sale in the United
States. The securities have not been registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or an exemption from registration. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful.




FOR FURTHER INFORMATION PLEASE CONTACT: 
Alston Energy Inc.
Don K. Umbach
President & CEO
[phone] Ext.222
[e-mail]


Alston Energy Inc.
Bruce Eckert
VP Operations & COO
[phone] ext. 230
[e-mail]


Alston Energy Inc.
Troy Winsor
VP Business Development
1-800-663-8072
[e-mail]