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In 2012, the Garrington Cardium area net operating income (revenue minus royalties minus operating expenses) was $54.27 per BOE, with average operating expenses net of processing income of $4.85 per BOE. The Garrington Cardium property is the Company's largest Cardium property and represents approximately 47% of the Company's total pre-tax NPV 10 valuation. In 2012, its average production was 958 BOED and TP and P&P reserves were 3,771 and 6,120 MBOE respectively. This property contains a strategic 100% owned and operated oil battery and truck terminal which connects to the light oil Plains Rangeland pipeline system. The Company has been steadily increasing third party truck volumes from 50 m3 per day in early 2012 to over 250 m3 per day at the present time. The Company is investigating options to reconfigure this facility to substantially increase and attract third party truck volumes.

In addition to the substantive Cardium light oil drilling inventory, the Company has identified an important new play on its lands - the Second White Specks. The Company has 104 gross (46 net) sections of Second White Specks ("2WS") land and has assembled a drilling inventory of 102 gross (59 net) drilling locations. This zone is 100 meters deeper than the Cardium formation and is the oil-source zone for the Cardium play and is oil-charged with similar quality light oil that is in the Cardium formation. To date, other operators have drilled six horizontal oil 2WS wells offsetting the Company lands. The Company believes this play can be exploited by drilling off existing Cardium drilling pads and handling the Second White Specks oil and solution gas at the Company's operated Cardium facilities.

The Company no longer considers itself to be a shallow gas production and development company. The Company is a light oil horizontal development company focused almost exclusively on the Cardium with a stacked resource play in the Second White Specks. The Company's assets are almost entirely west of the fifth meridian, and a two hour drive north of Calgary on predominantly year-round access land. With a new reserves report, excellent drilling results yielding high initial productivity, relatively low capital costs and an expanded drilling inventory, the Company continues to explore its options through a strategic alternatives process. Anderson has prepared a confidential data room to assist in this process. Qualified parties have signed confidentiality agreements to review information in this data room.

With recent property dispositions and existing bank lines, the Company was able to complete all of its recently restructured drilling commitments. This winters drilling program has demonstrated significant initial production results for slick water frac stimulations that were vastly superior to previously announced techniques. The Company continues to add to its Cardium drilling inventory.

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, or a drilling joint venture, 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.