ALSTON VENTURES INC. (TSX VENTURE:ALO) reported that the company has closed on the previously announced (January 28, 2010) Purchase and Sale Agreement to acquire certain oil and gas assets in the Pembina area of Alberta.

The press release is quoted as saying:

With this Acquisition, Alston has acquired high quality, long life, light oil assets in the emerging Pembina/Cardium resource play. The assets include a 3.5% beneficial interest in 19 producing oil wells, 1 coal bed methane gas well, 4 standing or suspended wells, 2 oil batteries, related production facilities and pipelines and 5,690 gross acres of land in the heart of the Pembina/Cardium Pool.

Click here to access the entire press release

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