ABP.H

Albion Petroleum Ltd. ("Albion" or the "Corporation") (TSX VENTURE:ABP.H)
announces that, subject to regulatory approval, it has granted a total of
700,000 options to directors and officers of the Corporation to purchase common
shares of the Corporation in accordance with its stock option plan. These
options were issued fully vested with an exercise price of $0.15 per share with
an expiry date of 5 years from the date of issuance.


The Corporation has determined that exemptions from the various requirements of
the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are
available for the issuance of the options to the directors and officers of the
Corporation (Formal Valuation -- Issuer Not Listed on Specified Markets;
Minority Approval - Fair Market Value Not More Than 25% of Market
Capitalization).


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. A description of assumptions used to
develop such forward looking-statements and additional information identifying
risks and uncertainties in respect of forward-looking statements is contained in
certain of Albion's filings and disclosure documents which can be found on the
SEDAR Website at www.sedar.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Albion Petroleum Ltd.
David Shaw
President and CEO
(604) 221-4828
das@altiplano.ca

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