SOURCE: Silver Star Energy, Inc.

December 08, 2005 09:00 ET

Silver Star Completes Sale of Interest in Joarcam Assets to EnerMark Inc.

LOS ANGELES, CA -- (MARKET WIRE) -- December 8, 2005 -- Silver Star Energy, Inc. (OTC BB: SVSE) today is pleased to announce that it has closed the sale of its interest in assets located in the Joarcam area of Alberta. The purchaser was EnerMark Inc., part of Enerplus Resources Fund. EnerMark controls most of the lands surrounding Joarcam and has production from various oil wells in the area.

Silver Star sold its entire 70% working interest (66.5% after other interests) in the land, reserves and the two producing oil wells located thereon for gross proceeds of $2,227,750 CDN or $1,922,730 US (before applicable Canadian withholding taxes).

President Robert McIntosh states, "The completion of the sale of Joarcam to EnerMark is a milestone for the Company. We are moving forward with the North Franklin, EVI and Kansas projects and anticipate replacing the Joarcam well production once the EVI '7-11' well is finished and in production."


The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high quality, low risk prospects provided via key strategic alliance partnerships.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the acquisition of oil and gas reserves, any near-term production or cash flow and our ability to become cash flow positive in the short term to allow us to re-invest production dollars to enhance and grow company assets.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the numerous inherent uncertainties associated with oil and gas exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.


Silver Star Energy, Inc.

Robert McIntosh -- President

To find out more about Silver Star Energy, Inc. (OTC BB: SVSE), visit our website at

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    Silver Star Energy, Inc.