Alston Energy Inc. Announces Drilling Plans for Q4 2012 and Fiscal 2013 and Provides Guidance

Alston Energy Inc. (TSX VENTURE:ALO) ("Alston") is pleased to announce its
intention to conduct the following drilling operations and undertake the
associated capital expenditures over a 15 month period commencing in the fourth
quarter of calendar 2012 and ending in the fourth quarter of fiscal 2013.


In the fourth quarter of calendar 2012, Alston plans to drill one net vertical
oil well at Provost, Alberta and participate in two horizontal oil wells (3.5%
per well) at Pembina, Alberta for an estimated total capital expenditure of
$785,000CDN. Alston estimates that the Q4 2012 drilling program will add 38
barrels of oil per day at initial production rates and 50,500 barrels of proved
producing oil reserves.


In fiscal 2013, Alston plans to drill three net vertical oil wells at Provost,
Alberta, one net horizontal oil well at Alexander, Alberta and three horizontal
oil wells (3.5% per well) at Pembina, Alberta at various times during the
period, for an estimated total capital expenditure of $3,065,000CDN. Alston
estimates that the fiscal 2013 drilling program will add an estimated initial
production rate of 164 barrels of oil per day and 252,000 barrels of proved
producing oil reserves.


The planned expenditures are expected to meet Alston's 2012 and 2013
flow-through share obligations.


Based on Alston's internal risk assessment, we expect to average 608 BOE per day
in the fourth quarter of fiscal 2013 and generate cash flow from operations of
$1.2MM for the quarter. 


About Alston Energy Inc.: Alston is a junior oil and gas company, incorporated
in Alberta and listed on the TSXV. Its primary exploration focus is in
north-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. 


Initial production rates: Initial production rates disclosed herein may not
necessarily be indicative of long-term performance or ultimate recovery.


FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements. More particularly, this press release contains statements concerning
(i) Alston's projected capital expenditures for the balance of 2012 and fiscal
2013 and the tax classification thereof, (ii) drilling plans, (iii) additions to
reserves and production, (iv) expected 2013 exit rate of production, (v) the
resulting cash flow from added production, and (v) average rates of production
for the fourth quarter of 2012 & 2013. 


The forward-looking statements contained in this document are based on certain
key expectations and assumptions made by Alston, including expectations and
assumptions concerning the success of future drilling and development
activities, the performance of existing wells, the performance of new wells, the
successful application of technology and prevailing commodity prices. 


Although Alston believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because Alston can give no assurance
that they will prove to be correct. Since forward looking statements address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not
limited to, risks associated with the oil and gas industry in general (e.g.,
operational risks in development, exploration and production; delays or changes
in plans with respect to exploration or development projects or capital
expenditures; the uncertainty of reserve estimates; the uncertainty of estimates
and projections relating to production, costs and expenses, and health, safety
and environmental risks), commodity price and exchange rate fluctuations and
uncertainties resulting from potential delays or changes in plans with respect
to exploration or development projects or capital expenditures. 


The forward-looking statements contained in this document are made as of the
date hereof and Alston undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws. 


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]