ALF Alpetro Resources Ltd

Alpetro Resources Ltd., ("the Corporation") (TSX VENTURE:ALF), listed on the TSX
VENTURE EXCHANGE under the trading symbol "ALF" advises that it has filed its
unaudited Financial Statement and Management's Discussion and Analysis for three
months ended March 31 ,2008 on Sedar. The Annual General Meeting of Shareholders
will be held on Wednesday June 4, 2008 at 10:00 a.m.(Calgary time) at the
office's of the Corporation, Suit 2240, 444 - 5th Avenue S.W. Calgary , Alberta.


Alpetro's net production for the first quarter ended March 31, 2008 averages 472
mcf/d of natural gas, 23 bbl/d of oil and 8 bbl/d of NGL's.


Petroleum and Natural Gas revenue for the three months ended March 31, 2008
totaled $ 651,586 increased 19% from $ 548,786 in the same period ended March
31, 2007.


The Alpetro will maintain sufficient activity to stabilize production at Edson
by developing two shut-in wells during the year 2008. As announced March 24,2008
Alpetro entered into a farmout agreement with a Calgary based junior oil and gas
company which paid certain funds to earn 50% working interest in four(three
shut-in and one drillable) locations for further development. If development
work on two shut - in wells at Edson is successful, Alpetro anticipates that the
well could add 100 boe/day to Alpetro's current production by the year end of
2008.


This disclosure may include statements about future events and financial results
that are forward- looking in nature and subject to substantial risks and
uncertainties. The Company cautions that actual performance will be affected by
a number of factors, many of which are beyond its control.

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