RedStar Oil & Gas Inc.
TSX : RED

RedStar Oil & Gas Inc.

March 06, 2008 14:32 ET

RedStar Oil & Gas Inc. Comments on Recent Market Activity

CALGARY, ALBERTA--(Marketwire - March 6, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

In light of recent market activity, RedStar Oil & Gas Inc. (TSX:RED) ("RedStar" or the "Company"), has been requested by Market Regulation Services Inc., on behalf of the Toronto Stock Exchange, to comment thereon.

The Company has entered into a non-binding letter of intent with a third party regarding a potential corporate transaction. There is no assurance that a binding agreement will be entered into or that the Company will complete any such transaction. No further comment will be forthcoming unless the situation warrants.

Cautionary Statements

Certain information set forth in this document, including management's assessment of future plans and operations, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond this party's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Actual results, performance or achievement could differ from those expressed in, or implied by, these forward-looking statements, and accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits will be derived there from. RedStar disclaims any intention or obligation to update or revise any forward-looking statements that are a result of new information, future events, or otherwise except as required in accordance with applicable securities laws.

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

Contact Information

  • RedStar Oil & Gas Inc.
    Chester J.R. Krala
    President and Chief Executive Officer
    (403) 699-3069
    or
    RedStar Oil & Gas Inc.
    Lawrence F. Walter
    Chief Financial Officer
    (403) 699-3061