AvenEx Energy Corp. Provides 2011 Tax Information

Marketwired

CALGARY, ALBERTA--(Marketwire - March 2, 2012) - AvenEx Energy Corp. ("AvenEx") (TSX:AVF.TO - News) provides the following tax information:

2011 Canadian Shareholder Tax Information

The following information is provided to assist individual Canadian shareholders of AvenEx in the preparation of their 2011 Income Tax Return and is not to be considered tax advice to any particular individual but rather, general information. Shareholders should consult their own legal tax advisors as to their particular tax consequences of holding AvenEx shares.

AvenEx dividends declared in 2011 are designated as "eligible dividends" for the purposes of the Income Tax Act (Canada) and any similar provincial legislation.

2011 U.S. Shareholder Tax Information

The following information is provided to assist individual U.S. shareholders of AvenEx in the preparation of their 2011 income tax return. The information is of general nature only and does not address U.S. state or local tax treatment, and is not intended to constitute legal or tax advice to any holder of AvenEx shares. U.S. investors should consult their own legal or tax advisors as to their particular tax consequences of holding AvenEx shares, including the proper U.S. federal income tax treatment of dividends from AvenEx.

For U.S. tax purposes, AvenEx believes it should be treated as a corporation by its U.S. investors. As such, under U.S. federal tax law, 100% of the 2011 dividends declared by AvenEx should also be considered dividends for U.S. income tax purposes.

AvenEx believes that the 2011 dividends paid to U.S. residents should be treated as "qualified dividends" and, generally, these dividends should be eligible for the maximum tax rate of 15% applicable to "qualified dividends". However, the individual taxpayer's situation must be considered before making this determination.

Shareholders who are resident in the U.S. are subject to a 15% Canadian withholding tax on the dividends received from AvenEx. Canadian withholding taxes should generally qualify for a foreign tax credit for the purposes of computing U.S. federal income taxes, subject to certain limitations.

For additional details on monthly dividends paid in 2011 and previous years, please visit our website at http://www.avenexenergy.com

An electronic copy of this press release may be obtained on AvenEx's SEDAR profile at www.sedar.com.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact:
Gary Dundas
AvenEx Energy Corp.
Chief Financial Officer
(403) 237-9949
(403) 237-0903 (FAX)

Michelle O'Grady
AvenEx Energy Corp.
Corporate Controller
(403) 237-9949
(403) 237-0903 (FAX)

Suite 300, 808 - 1st Street S.W.
AvenEx Energy Corp.
Calgary, Alberta
T2P 1M9

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