ALBION PETROLEUM LTD.: Filing of Revised First Quarter Financial Statements

ALBION PETROLEUM LTD. (the "Corporation") (TSX VENTURE:ABP.H) announces that on
August 5, 2011 it filed on Sedar Revised First Quarter Financial Statements and
MD&A for the three month period ended March 31, 2011. The Corporation Revised
Financial Statements now includes corrections to make them current with new IFRS
guidelines.


Certain information in this press release may contain forward-looking
statements. This information is based on current expectations that are subject
to significant risks and uncertainties that are difficult to predict. Actual
results might differ materially from results suggested in any forward-looking
statements. Albion assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from those
reflected in the forward looking-statements unless and until required by
securities laws applicable to Albion. Additional information identifying risks
and uncertainties is contained in certain of Albion's filings with the Canadian
securities regulators, which filings are available at www.sedar.com.