Alpetro Resources Ltd.: Press Release

Alpetro Resources Ltd. ("Alpetro") (TSX VENTURE:ALF) today announced that the
Farm Out Agreement previously reported on December 12, 2007 to raise $870,000.00
from a Calgary Company was cancelled due to non-availability of the funds for
the development of two Cardium wells near Edson, Alberta. Subsequently another
junior oil and gas company came up with some agreeable funds to earn 50% working
interest in four (three shut-in and one drillable) locations for future
development.


The pipeline (about 400m) from Edson 14-25 well to CNRL 3-36 Station was
installed in the month of January 2008 and all other equipment such as
Separators, Pump jack, storage tanker and SCADA systems are being shipped to the
site for hook up for a total cost of $400,000.00. The last production from 14-25
well was 32 mcf of gas per day and 49 bbs of oil per day in December 1999. It is
expected that the well will be in production in April 2008.


The last production from Edson 12-36 well drilled in July 1983 was recorded 163
barrels per day of water and 145 barrels per day of oil in November 1983. This
is our potential shut-in well for test. An amount of $30,000.00 was assigned to
clean up the well and perform necessary flow tests in April 2008 before any
major expenses occur.


The company is working on bringing the additional "behind pipe" production
(about 50 to 60 BOED gross) from these two wells by the end of December 2008.


BOE's may be misleading, particularly if used in isolation. A BOE conversion
ratio of 6 Mcf: 1 Bbl is based on energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead.


Information provided herein contains forward-looking statements. The reader is
cautioned that assumptions used in the preparation of such information, which
are considered reasonable by Alpetro at the time of preparation, may prove to be
incorrect. Actual results achieved will vary from the information provide and
the variations may be material. There is no representation by Alpetro that
actual results achieved will be the same in whole or part as those indicated in
the forward-looking statements.