LandStar Inc.

October 07, 2010 15:49 ET

LandStar Inc. (LDSR) Introduces Merger Candidate with USA-Based Oil & Gas Company

BEIJING, CHINA--(Marketwire - Oct. 7, 2010) - LandStar Inc. (PINK SHEETS:LDSR)( management is considering a merger with a US-based oil and gas company. The USA company is Cressent Energy (Cressent).

This promising company is involved in natural gas exploration in the state of Texas and has a number of assets, including 50 oil wells and well equipment, totalling over 200 tanks and 20 pumping units. LandStar is currently evaluating this company and feels that they are a favorable merger candidate.

The merger would complement the operations of LDSR's current subsidiary, Hubei Chuguan Technology Co. Ltd., which manufactures vapor recovery units for the Chinese petrochemical industry.

Cressent company does not have a online presence. It recently had a small website built by its IR company, and launched to introduce the business to LDSR shareholders.

The company will advise the investor public of any developments, however, the merger has passed the underwriting and risk assessment criteria and could come to fruition shortly. LSDR will keep its shareholders updated as further information on this promising transaction becomes available.

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Information in this news release may contain statements about future expectations, plans, prospects or performance of LandStar Inc., that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. LandStar Inc. cautions you that any forward-looking information provided by or on behalf of LandStar Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. LandStar Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond LandStar Inc.'s control. In addition to those discussed in LandStar Inc.'s press releases, public filings, and statements by LandStar Inc.'s management, including, but not limited to, LandStar Inc.'s estimate of the sufficiency of its existing capital resources, LandStar Inc.'s ability to raise additional capital to fund future operations, LandStar Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match LandStar Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. LandStar Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

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