Alberta Oilsands Inc. Announces Results of the Review of Year End Clearwater Reserves

SERVICES OR FOR DISSEMINATION TO THE U.S.A. Calgary, Alberta CANADA, July 20, 2011 /FSC/ – Alberta Oilsands Inc. (AOS – TSX Venture)(the “Company” or “AOS”) and its independent reserve evaluator, Ryder Scott Company Canada – Petroleum Consultants (“Ryder