Eagle Star Petroleum Corp.

Eagle Star Petroleum Corp.

March 18, 2008 09:00 ET

Eagle Star Petroleum Corp. Announces the Establishment of Commercial Gas Production at Its Well Located in North Western Alberta in the Peace River Area

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2008) - Eagle Star Petroleum Corp. (TSX VENTURE:EGE)(CNQ:EAGL)(FRANKFURT:E6R) ("Eaglestar" or "the Company") is pleased to announce that the farmee has successfully tested the well located in North Western Alberta in the Peace River Area. Following receipt of the test results and data provided by the Farmee from the recent drilling on its property, a positive report has been prepared by independent engineers DeGoyler and MacNaughton Canada Limited ("DGM") indicating a commercial well which is scheduled for production early spring of 2008.

The Company currently owns a 40% Working interest in the 633 acre Crown lease after payout, with an overriding royalty of 5%-15%, which together with a 100% interest in two additional Crown leases in the area, gives the Company a gross holding of 1,900 acres.

Eran Friedlander, President and Chief Executive Officer of Eagle Star, said, "The tie in of this well is a positive stride for Eagle Star towards commercialization. We are pleased with the results and expect soon to be further developing this and other prospects. The economic feasibility of this lease gives Eagle Star more options to increase cash flow as we proceed now in a producer's role."

The Qualified Person, with responsibility for the accuracy of the technical information contained herein, is the Chief Operating Officer Martin Keeley, PhD (Geology), BSc. Hons, FGS, with 27 years of industrial experience.

About the Company

Eagle Star Petroleum Corp. is a Canadian oil and gas exploration company headquartered in Vancouver, British Columbia. The Company's shares are publicly traded on the TSXv under the symbol EGE, on the CNQ Exchange under the symbol EAGL and on Frankfurt Stock Exchange under the symbol E6R.

On behalf of the Board of Directors


Eran Friedlander, President

Forward-Looking Statements

This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Eagle Star's program in Alberta and other statements that are not historical facts. Forward looking statements in this news release include a commercial well which is scheduled for production early spring of 2008. Factors which could prevent these statements from being achieved include our inability to raise funds to develop our project, possible disputes with joint venture partners, property title disputes, misinterpretation of data, inability to get permits, equipment or labour as needed, and that despite encouraging data, there may be no commercially exploitable resource on the property. Other important factors that could cause actual results to differ from these forward-looking statements are disclosed in the corporation's periodic filings with Canadian securities regulators.

The TSX Venture Exchange, the CNQ Exchange and the Frankfurt Exchange have not reviewed, and do not accept responsibility for the accuracy or adequacy of this news release.

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