RedStar Oil & Gas Inc.

RedStar Oil & Gas Inc.

May 24, 2006 11:10 ET

RedStar Oil & Gas Inc. Halts Non-Voting Shares Pending Annual Meeting Results

CALGARY, ALBERTA--(CCNMatthews - May 24, 2006) -

Not for distribution to United States newswire services or for dissemination in the United States.

RedStar Oil & Gas Inc. ("RedStar" or the "Company") (TSX VENTURE:RED) (TSX VENTURE:RED.NV) announces today that the non-voting shares of RedStar (RED.NV) have been halted at the request of the Company pending the official results of a special resolution to change the Company's non-voting shares to common shares on a 1 for 1 basis which resolution is expected to be approved at the annual meeting of RedStar shareholders being held today.

RedStar is a junior oil and gas company engaged in the exploration, development and production of oil and natural gas in the Western Canadian Sedimentary Basin.

Cautionary Statements

Certain information set forth in this document, including management's assessment of future plans and operations, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond this party's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Actual results, performance or achievement could differ from those expressed in, or implied by, these forward-looking statements, and accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits will be derived there from. RedStar disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • RedStar
    Chester J.R. Krala
    (403) 262-3130
    Lawrence Walter
    (403) 262-3130