ALPHA ENERGY, INC. is approved for in-state operations

HOUSTON, September 23, 2021 (GLOBE NEWSWIRE) – Alpha Energy, Inc. (OTC.PK – APHE) (“Alpha”) is pleased to announce that on September 10, 2021, its wholly owned subsidiary Alpha Energy Texas Operating LLC was granted operator status in the state of Oklahoma by the Oil and Gas Conservation Division of the Oklahoma Corporation Commission. This action included the posting of a bond in the amount of US $ 25,000. Alpha Energy Texas Operating LLC has been assigned operator number 24640.

According to John Lepin, Chairman of the Board and CFO of Alpha Energy, “This is a significant opportunity for Alpha Energy. It will allow us to operate wells and other oil and gas properties in the state of Oklahoma, including wells that are intended to be transferred to Alpha ownership under the terms of the agreement. of Project Logan 1. We have been able to secure favorable surety status under existing state bond requirements and hope to gain vested interests under updated regulations now making their way through the Legislature of the state. “

Alpha Energy, Inc. is an independent energy company based in Houston, Texas, engaged in the acquisition, exploration, development and production of crude oil and natural gas. Additional information is available on the Company’s website at www.alpha-energy.us.

Safe harbor

This press release contains forward-looking statements regarding Alpha Energy which are intended to be covered by the safe harbor “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995, based on Alpha’s current expectations and includes statements regarding acquisitions and disposals. , estimates of future production, future operating results, the quality and nature of the asset base, the assumptions on which the estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements regarding future events or performance (often, but not always, using words such as “expects”, “plans”, “anticipates”, “plans”, “estimates”, “potential”, ” possible ”,“ probable ”or“ intention ”, or indicating that certain actions, events or results“ may ”,“ will ”,“ should ”or“ could ”be taken, occur or be achieved). Statements regarding oil and gas reserves may also be considered as forward-looking statements to the extent that they reflect estimates based on certain assumptions that the resources concerned can be exploited economically. Forward-looking statements are based on current expectations, estimates and projections which involve a number of risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to: risks of the oil and gas industry (for example, operational risks associated with the exploration, development and production of crude oil and natural gas; risks and uncertainties relating to the geology of oil and gas deposits; uncertainty in reserve estimates; uncertainty in estimates and projections for future production, costs and expenses; potential delays or changes in plans for oil and gas deposits; exploration or development projects or capital expenditures; uncertainties as to the availability and cost of financing; fluctuations in oil and gas prices; risks associated with derivative positions; inability to realize the expected value of acquisitions, inability of our management team to execute their plans to meet their goals, shortages of drilling equipment, personnel and field services oil sources, unavailability of collection systems, pipelines and processing facilities and the possibility that government policies change or government approvals may be delayed or denied. Additional information about these and other factors that could affect Alpha’s operations or financial results is included in Alpha’s other reports filed with the Securities and Exchange Commission. Investors are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from the projections contained in forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Alpha assumes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions change. Initial production rates are likely to decline over time and should not be taken to reflect sustained production levels.