Lonestar West Inc.
TSX VENTURE : LSI

Lonestar West Inc.

December 17, 2008 16:01 ET

Lonestar West Closes $1.2-Million IPO Financing

TORONTO, ONTARIO--(Marketwire - Dec. 17, 2008) - Lonestar West Inc. (TSX VENTURE:LSI) ("Lonestar" or "the Company") announced the successful closing of its IPO financing (the "Offering") of 2,431,000 common shares (each a "Common Share") at the price (the "Offering Price") of $0.50 per Common Share for gross proceeds of approximately $1,215,500.

Standard Securities Capital Corporation ("Standard Securities") acted as lead agent under the Offering. The lead agent and sub agents were paid a cash commission of $67,990 and the Company also issued compensation options to acquire a total of 135,980 Common Shares exercisable at the Offering Price expiring December 17, 2010.

The Company also announced that the TSX Venture Exchange has been provided with final documentation, and, subject to TSX Venture Exchange final approval, the posting and listing for trading of the Common Shares will occur as of the open of markets on or about December 22, 2008 under the symbol "LSI".

About Lonestar West

The Company is an Alberta based company providing industrial vacuum services. The Company currently operates a fleet of six vacuum trucks and two hydro-vac trucks. The Company's plan is to increase its fleet of hydro-vac trucks over the next 12 months. The Company's customers are primarily engaged in oil and natural gas exploration and development and mid-stream infrastructure construction and maintenance. The Company currently has 12,921,235 shares outstanding and on or about December 22, 2008 will commence trading on the TSX Venture Exchange under the symbol "LSI".

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

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