ALF Alpetro Resources Ltd

Alpetro Resources Ltd. (TSX VENTURE:ALF) advises that it has filed its unaudited
interim financial statements for the nine months ended September 30, 2010. 


Accomplishment in Q3 2010



--  Production averaged 116 boe/d in Q3 2010 compared to 93 boe/d in Q3
    2009. 
--   Oil and gas revenues increased 33% in Q3 2010 to $468,630 compared to
    $315,838 in Q3 2009 due to increase in oil prices. 
--  Carefully managed capital expenditures commensurate with available funds
    flow. 
--  The bank loan of $650,000 (2009 - $875,000) represents the outstanding
    balance under a $1,425,000 secured credit facility with a Canadian
    lending institution. 
--  As of August 24, 2010 the credit facility available was $2,075,000 with
    a principle reduction of $25,000 on the first day of each month. 



BOE's may be misleading, particularly if used in isolation. A BOE conversion
ratio of 6 Mcf: 1 Bbl is based on energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead.


Information provided herein contains forward-looking statements. The reader is
cautioned that assumptions used in the preparation of such information, which
are considered reasonable by Alpetro at the time of preparation, may prove to be
incorrect. Actual results achieved will vary from the information provide and
the variations may be material. There is no representation by Alpetro that
actual results achieved will be the same in whole or part as those indicated in
the forward-looking statements.

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