CALGARY, ALBERTA--(Marketwire - Sept. 10, 2012) - Petro-Reef Resources Ltd. (News - Market indicators), ("Petro-Reef" or the "Company") announces that at the Company's Annual General and Special Meeting held on September 7, 2012 the shareholders elected two new board members and approved the name change to Alexander Energy Ltd.

Also, at the Annual General and Special Meeting the shareholders voted to not approve the Company's Stock Option Plan.

James Sanden and Doran Flock have joined the Board of Directors. Mr. Sanden is a Professional Engineer and Mr. Flock is a Chartered Accountant.

The members of the Board of Directors are:

Alan Rasmuson

Peter Lubey

Paul Lawrence

James Sanden

Doran Flock

The members of the Audit Committee are:

Paul Lawrence

Doran Flock

Effective September 7, 2012 Mr. Sanden has been appointed to the position of Chief Executive Officer.

Alexander Energy Ltd. will trade on the TSX Venture Exchange under the new trading symbol ALX.