Alpetro Resources Ltd.

Alpetro Resources Ltd.

October 18, 2007 14:14 ET

Alpetro Resources Ltd.: Closing of Shares for Debt Settlement and Director/Officer Resignation

CALGARY, ALBERTA--(Marketwire - Oct. 18, 2007) - Alpetro Resources Ltd. ("Alpetro") (TSX VENTURE:ALF) announces that it has received TSX Venture Exchange approval to proceed with the closing of the shares for debt settlement announced in Alpetro's news release of September 24, 2007, that it has now closed such settlement and that 457,700 common shares in the capital of Alpetro at a deemed price of $0.25 per common share have now been issued in respect of such settlement.

Alpetro also announces that Robert Boyer had resigned as a director and as Secretary of Alpetro effective June 1, 2007, and that Robin Chan, Alpetro's Chief Financial Officer and Treasurer, assumed the office of Secretary effective the same date. Mr. Boyer has continued and will continue on as Alpetro's external legal counsel.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This release was prepared by Alpetro's management who take full responsibility for its contents.

Contact Information

  • Alpetro Resources Ltd.
    Nazrul Islam
    (403) 234-9006
    Alpetro Resources Ltd.
    #2240, 444 - 5th Ave. S.W.
    Calgary, Alberta T2P 2T8
    (403) 234-9006