Alpetro Announces Execution of Lock-Up Agreements and Satisfaction of Minimum Condition under Pre-Acquisition Agreement

Alpetro Resources Ltd. ("Alpetro") (TSX VENTURE:ALF) announced today that the
directors and officers of Alpetro who are shareholders of Alpetro, namely the
Chief Executive Officer and Chief Financial Officer, together with sixteen other
shareholders of Alpetro, representing in the aggregate 8,170,770 shares or
75.04% of the issued and outstanding shares of Alpetro, have entered into
pre-tender agreements (the "Lock-Up Agreements") with a private corporation
("PrivCo") under which they have agreed, subject to the terms thereof, to tender
all their shares to the offer of PrivCo to acquire all of the issued and
outstanding shares of Alpetro (the "Offer") contemplated by the pre-acquisition
agreement dated September 12, 2011 (the "Pre-Acquisition Agreement") entered
into between Alpetro and PrivCo as announced in Alpetro's news release of
September 13, 2011. Complete copies of the Lock-Up Agreements can be found on
SEDAR at www.sedar.com. 


With the entering into of the Lock-Up Agreements, the "Minimum Condition" of
PrivCo referred to in the Pre-Acquisition Agreement has been satisfied. 


Alpetro anticipates that mailing of PrivCo's formal bid circular in respect of
the Offer, together with Alpetro's directors' circular recommending that
Alpetro's shareholders accept the Offer and tender their shares to the Offer,
will commence on September 30, 2011. 


This news release is for information purposes only and is not a substitute for
the Pre-Acquisition Agreement which will effect the proposed transaction. There
can be no assurance that the conditions of closing will be satisfied, or that
the transaction will be completed as proposed or at all. Alpetro will issue
further news releases in respect to this proposed transaction as circumstances
warrant.


Forward Looking Statements 

This new release contains forward-looking statements which reflect Alpetro's
current expectations regarding future events. The forward-looking statements
involve risks and uncertainties. Actual results could differ materially from
those projected herein. Alpetro disclaims any obligation to update these
forward-looking statements.