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March 31, 2014
Spartan Energy Corp. Provides Corporate Pro Forma Reserves Summary and Renegade Petroleum Ltd. 2013 Year-End Financial and Reserves Information

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March 31, 2014
Spartan Energy Corp. Annouces Completion of Business Combination with Renegade Petroleum Ltd. and 2014 Capital Budget

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February 26, 2014
Alexander Energy Ltd. Announces Effective Date of Share Consolidation and Name Change

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February 20, 2014
Alexander Energy Ltd. Announces Filing of Final Short Form Prospectus Qualifying Distribution of Common Shares

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Feburary 18, 2014
Alexander Energy Ltd. Announces Shareholder Approval of Share Consolidation and Name Change

Alexander Energy Ltd. is a Calgary- based crude oil and natural gas exploration and production company with producing properties in Alberta, Canada.

Alexander Energy operates one core property at Alexander, Alberta.

Recent Highlights

Operations
In Q3 2013 the Company produced an average of 805 boe/d, comprised of 495 bbl/d of oil and 1,857 mcf/d of natural gas. This represents a 4% reduction in overall corporate production but a 7% increase in average oil volumes compared to Q2 2013. The overall oil weighting increased from 55% in Q2 to 61% in Q3 2013.

Management’s corporate initiatives have resulted in dropping overall unit operating costs by 18% compared to the previous quarter. Also, overall general and administrative unit costs were reduced by 46% compared to the previous quarter.


Financial
Cash flow from operations in Q3 2013 increased to $2.4 million on revenues of $4.6 million as compared to cash flow of $1.8 million on revenues of $4.1 million in Q2 2013. Basic cash flow per share for the period was $0.035/share or $0.14/share annualized.

On September 13, 2013 the Company completed a private placement of 8,666,667 common shares at a price of $0.15/share for net proceeds of $1,272,000.

In the three months ended September 30, 2013 net debt decreased by 28% to $8.4 million, down from $11.6 million at June 30, 2013. The net debt to annualized cash flow ratio decreased to 0.86:1 at September 30, 2013 down from 1.58:1 at June 30, 2013.


Corporate Update
Alexander plans to strengthen its financial and operating position by continuing the following near term corporate directives:

  1. Continue to reduce administrative and field operating costs to direct more operating cash flow to strengthening the Company’s balance sheet.
  2. Continue to build an inventory of drilling opportunities that fit with a company of this size.
  3. Seek mergers and acquisitions where the resulting entity benefits the current shareholders of Alexander.
  4. Evaluate the drilling of several infill oil wells.