HispanicBusiness

A summary of oil and gas reserves at December 31, 2012 is shown below:

----------------------------------------------------------------------------Gross Working Interest Oil            Natural and Gas Reserves as at                   Gas   Natural     Total   Pre-tax December 31, 2012              Oil   Liquids       Gas    BOE(i)   NPV 10%                             (Mbbls)   (Mbbls)    (MMcf)    (MBOE)    ($000)Proved developed producing    2,089       595    25,150     6,875   114,369Total proved                  3,480       964    35,118    10,297   143,960Total proved plus probable    6,709     1,814    55,475    17,770   224,826----------------------------------------------------------------------------

(i) Barrels of oil equivalent ("BOE") maybe 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.

The GLJ price forecast, inflation and exchange rate assumptions used in the reserves evaluation is shown below. Over the next 10 years, this price forecast is on average 11% lower for natural gas and 6% lower for oil than the price forecast used in the reserves evaluation last year.

GLJ Price Forecast as at January 1, 2013                         Natural       Edmonton             Oil             Gas     Liquids Prices                 Light,                  Sweet AECO Gas                Pentanes          WTI     Crude    Price Propane Butane     Plus           Exchange      Cushing  Edmonton   ($Cdn/  ($Cdn/ ($Cdn/   ($Cdn/ Inflation     rateYear ($US/bbl)($Cdn/bbl)   MMBtu)    bbl)   bbl)     bbl)   Rate % (US$/Cdn)2013    90.00     85.00     3.38   34.06  65.45    96.63       2.0     1.002014    92.50     91.50     3.83   45.75  70.46    97.91       2.0     1.002015    95.00     94.00     4.28   56.40  72.38    97.76       2.0     1.002016    97.50     96.50     4.72   57.90  74.31   100.36       2.0     1.002017    97.50     96.50     4.95   57.90  74.31   100.36       2.0     1.002018    97.50     96.50     5.22   57.90  74.31   100.36       2.0     1.002019    98.54     97.54     5.32   58.52  75.11   101.44       2.0     1.002020   100.51     99.51     5.43   59.71  76.62   103.49       2.0     1.002021   102.52    101.52     5.54   60.91  78.17   105.58       2.0     1.002022   104.57    103.57     5.64   62.14  79.75   107.71       2.0     1.00Thereafter 2%----------------------------------------------------------------------------

In March 2013, the Company will provide more detailed information regarding its December 31, 2012 reserves report as part of its customary year end financial reporting and annual information form filings.

STRATEGIC ALTERNATIVES

The Company is continuing its process to identify, examine and consider a range of strategic alternatives available to the Company with a view to enhancing shareholder value. The strategic alternatives may include, but are not limited to, a sale of all or a material portion of the assets of Anderson, either in one transaction, or in a series of transactions, the outright sale of the Company, or a merger or other strategic transaction involving Anderson and a third party. The Board of Directors believes that the Company's shares trade at a discount to the value of the underlying assets, especially given its high quality light oil production base, prospective horizontal light oil drilling inventory and significant tax pools. The Board of Directors has established a special committee comprised of independent directors of the Company to oversee the process and has retained BMO Capital Markets and RBC Capital Markets as its financial advisors to assist the Special Committee and the Board of Directors with the process.