Groundstar Resources Limited
TSX VENTURE : GSA

Groundstar Resources Limited

October 21, 2015 15:36 ET

Groundstar Resources Limited Provides Corporate Update

CALGARY, ALBERTA--(Marketwired - Oct. 21, 2015) -

NOT FOR DISTRIBUTION TO THE U.S.A. NEWS WIRE SERVICES OR FOR DISSEMINATION TO THE U.S.A.

Groundstar Resources Limited ("Groundstar" or the "Company") (TSX VENTURE:GSA) announces that it most recent well at 2-13-45-26 W3 in the Neilburg of Saskatchewan did not discover commercially producible quantities of hydrocarbons and as a result, the Company will be abandoning this well. The well was targeting the Colony formation and was drilled to a target depth of approximately 650 meters. The location was drilled as a follow up to the Company's existing production in the Neilburg area. Information obtained from the drilling of the well will be reviewed and integrated into the Company's existing data base to determine the next course of action.

In addition, and further to its recent press releases, the Company is continuing to work diligently with the TSX Venture Exchange for the trading suspension of the common shares of the Company to be revoked and shares reinstated for trading. The Company will issue a further news release regarding the anticipated timing of the resumption of trading in the near future.

About Groundstar Resources Limited

Incorporated in 1968, Groundstar Resources Limited is a publicly traded oil and gas company actively growing a portfolio targeting producing oil and gas assets with development opportunities and exploration upside. The Company's current portfolio of resource assets provides both near term and longer term potential. Groundstar is quoted and trades under the ticker symbol "GSA" on the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Contact Information