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Total oil and gas sales and total revenue, net of royalties grew from 2010 to 2011 due to the focus on increasing oil production, as well as increased oil prices. However, total oil and gas sales and total revenue, net of royalties dropped significantly from 2011 to 2012 as a result of the decreased commodity prices, and also the sale of properties during 2012. Earnings before the effect of impairment in 2011 became losses in 2012, also primarily due to decreased commodity prices. Loss and loss per share were impacted by impairment charges triggered by decreases in natural gas and natural gas liquids prices in all three years ($20.0 million - 2012, $35.2 million - 2011, and $153.2 million - 2010.) These impairment charges and the dispositions reported in 2011 and 2012 have also reduced total assets. Approximately $73.9 million in proceeds from dispositions in 2012 and $11.6 million in 2011 were used to pay down bank debt.

Total debt including convertible debentures grew from 2010 to 2011, reflecting the financing related to the capital programs to develop oil properties.

ADDITIONAL INFORMATION

Additional information regarding Anderson and its business and operation, including its most recently filed annual information form is available on the Company's profile on SEDAR at www.sedar.com. This information is also available on the Company's website at www.andersonenergy.ca.

FORWARD-LOOKING STATEMENTS

Certain statements in this news release including, without limitation, management's assessment of future plans and operations; benefits and valuation of the development prospects described herein; number of locations in drilling inventory and wells to be drilled; timing and location of drilling and tie-in of wells and the costs thereof; productive capacity of the wells; timing of and construction of facilities; expected production rates; percentage of production from oil and natural gas liquids; dates of commencement of production; amount of capital expenditures and the timing and method of financing thereof; value of undeveloped land; extent of reserves additions; ability to attain cost savings; drilling program success; impact of changes in commodity prices on operating results; estimates of future operating netbacks; potential results of the strategic alternatives review process, including the possibility of further asset dispositions and use of proceeds therefrom, and enhancement of shareholder value, disclosure intentions with respect to the strategic alternatives review process, factors on which the continued development of the Company's oil and gas assets are dependent, commodity price outlook and general economic outlook may constitute "forward-looking information" within the meaning of applicable securities legislation and necessarily involve risks and assumptions made by management of the Company including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation; loss of markets; volatility of commodity prices; currency fluctuations; imprecision of reserves estimates; environmental risks; competition from other producers; inability to retain drilling rigs and other services; adequate weather to conduct operations; sufficiency of budgeted capital, operating and other costs to carry out planned activities; wells not performing as expected; incorrect assessment of the value of acquisitions and farm-ins; failure to realize the anticipated benefits of acquisitions and farm-ins; inability to complete property dispositions or to complete them at anticipated values; delays resulting from or inability to obtain required regulatory approvals; changes to government regulation; ability to access sufficient capital from internal and external sources; and other factors, many of which are beyond the Company's control.