Alpetro Resources Ltd.: Take-Over Bid Circular and Directors' Circular Mailing Completed in Respect of $0.39 Per Share Offer ...

Alpetro Resources Ltd. ("Alpetro") (TSX VENTURE:ALF) is pleased to announce that mailing to Alpetro's registered shareholders has been completed on October 4, 2011 in connection with the formal bid circular in respect of the offer to acquire the outstanding common shares of Alpetro at a price of $0.39 in cash per share set out in the Pre-Acquisition Agreement referred to in Alpetro's prior news release of September 13, 2011. Alpetro has also completed mailing of its directors' circular on October 4, 2011 recommending that Alpetro's shareholders accept the offer and tender their shares to the offer.

The offer is open for acceptance until 10:00 a.m. (Calgary time) on November 9, 2011, unless extended or withdrawn.

Full particulars of the offer are set out in the filed offer and circular and directors' circular available on SEDAR at www.sedar.com.

This news release is for information purposes only and is not a substitute for the filed offer and circular and directors' circular. 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.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contacts: Alpetro Resources Ltd. Nazrul Islam President & CEO (403) [e-mail]