ALPETRO RESOURCES - (TSX-V: ALF)

PRESS RELEASE

May 30, 2008

Sedar Filing

Alpetro Resources Ltd., ("the Corporation"), listed on the TSX VENTURE EXCHANGE under the trading symbol "ALF" advises that it has filled 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, Suite 2240, 444-5th Avenue S.W. Calgary, Alberta

Alpetro's net production for the first quarter 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 my 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 effected by a number of factors, many of which are beyond its control.

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