Preheat the oven to 350 degrees. Meanwhile, in a medium bowl stir together the flour, baking powder and salt; set aside.
Cream the almond paste until smooth, then add egg yolks, 1/2 cup sugar, oil, water and extracts. Cream together until smooth; set aside.
Whip the egg whites until foamy then add 1/2 cup sugar and whip until they form stiff peaks. Sift 1/3 of the flour mixture over the whites and fold in gently using a rubber spatula. Repeat two more times with remaining flour.
Slowly fold the egg white mixture into the almond paste mixture... a little at a time.
Place batter into an ungreased 10-Inch tube or Bundt pan and bake for 50 minutes, or until toothpick inserted in center comes out clean.
Invert the pan over the neck of a bottle to cool. I sometimes also let it rest on several inverted coffee mugs.
Once cooled, dust with lots of confectioners’ sugar and serve.