Alberta Oilsands Cites 59% Increase at Fort McMurray Property

Alberta Oilsands Inc. has announced that Ryder Scott Company Canada, Petroleum Consultants has completed a resource assessment update report on the total contingent resources on its Fort McMurray Clearwater property.

The report, effective June 1, 2008, estimates that AOS' Clearwater property contains a total of 320 million barrels of contingent resources. With this update, Ryder Scott has assigned additional contingent resources to its Fort McMurray property of 104 million barrels of bitumen.

This additional assignment represents a 59% increase in contingent resources from the October 2007 report and a 48% increase in contingent resources from the March 2008 update.