SOURCE: Tradestar Resources Corporation

August 04, 2008 09:17 ET

Tradestar Resources Achieves Profitability; Releases Financial Reports, Fiscal 2008-09, First Quarter

HOT SPRINGS, AR--(Marketwire - August 4, 2008) - Tradestar Resources Corporation (PINKSHEETS: TSRR) today announces financial results for its first quarter which ended June 30, 2008.

Revenue for the quarter was $141,000 compared to $92,400, a 47% increase over the same period one year ago. Gross profit from oil and gas operations was $63,000. Net income for the quarter was $57,000 compared to the prior year's same period loss $71,000.

"We are pleased with our results this quarter. The increase in revenue is due to our increased efficiency and amount of production as well as the prices received for the increased production. We also achieved a $26,000 reduction in lease operating expenses," said Tom Feimster, President & CEO. "We are looking ahead to expansions in current projects and several new projects scheduled to come online this fiscal year, we are excited about the possible significant increases in both revenue and income during this next year."

Tradestar Resources Corporation, an independent energy company engaged in the exploration, development, exploitation and acquisition of domestic on-shore oil and natural gas properties, financial statements can be found at www.Tradestar-Corp.com and www.PinkSheets.com.

About Tradestar: Tradestar Resources Corporation strives to enhance asset value by expanding oil and natural gas reserves raising production levels and increasing cash flow. Tradestar intends to foster its growth as an independent oil and gas company by investing in only proven producing wells.

DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation

Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Tradestar Resources Corporation's filings with the Securities and Exchange Commission. These risks could cause Tradestar Resources Corporation's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Tradestar Resources Corporation.

Additional company information is available at www.tradestar-corp.com.

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