Market Overview

Alexander Energy Ltd. Announces Spudding of New Well


CALGARY, ALBERTA--(Marketwire - Oct. 25, 2012) - Alexander Energy Ltd. (TSX VENTURE:ALX), ("Alexander" or the "Company") is pleased to announce the spudding of a well at 15-12-56-27W4 at 6:00 AM on Thursday, October 25, 2012. Drilling should be complete next week with testing to follow immediately. This is the next well in the development of the Company's Alexander field, and the first of a five well program to be carried out during 2012 and 2013, depending on well by well results.

Forward-Looking Statements: All statements, other than statements of historical fact, set forth in this news release, including without limitation, assumptions and statements regarding reservoirs, resources and reserves, future production rates, exploration and development results, financial results, and future plans, operations and objectives of the Corporation are forward-looking statements that involve substantial known and unknown risks and uncertainties. Some of these risks and uncertainties are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks, industry competition, availability of qualified personnel and management, availability of materials, equipment and third party services, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Corporation at the time of preparation, may prove to be incorrect. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Alexander Energy Ltd.
Hugh M. Thomson
Vice-President Finance and Chief Financial Officer
(403) 523-2505
(403) 264-1348 (FAX)

Alexander Energy Ltd.
1540, 521-3rd Avenue S.W.
Calgary, Alberta T2P 3T3

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