SOURCE: Silver Star Energy, Inc.

December 05, 2005 09:00 ET

Silver Star Updates Alberta Projects -- Joarcam Sale to Close December 6

LOS ANGELES, CA -- (MARKET WIRE) -- December 5, 2005 -- Silver Star Energy, Inc. (OTC BB: SVSE) today updates the status of the Joarcam and Evi projects in Alberta, Canada.

The closing of the Joarcam sale of Silver Star's 70% working interest percentage of current oil production and reserves will occur tomorrow, December 6th in Calgary. The Company had announced and expected the closing to be on November 30th. The closing is being handled by attorneys from all parties; the purchaser being a large publicly traded Canadian Oil & Gas Company. Silver Star will release the buyer's name after closing when the purchaser discloses the asset purchase publicly to their shareholders, as agreed to in the confidentiality agreement.

At the Company's Evi Project, preparations are complete to begin the "7-11" oil well fracture stimulation program. There has been a short delay in acquiring the necessary work-over drilling equipment for the program due to lack of available rigs in the Peace Arch-Red Earth area. However, the operator, Transaction Oil and Gas Ventures, is now mobilizing a rig from the Calgary area and expects that the entire testing program will be completed by the end of December. The program involves the "fracing" of the oil bearing Slave Point formation, which was conventionally swab tested in 2004 during the completion program at that time. Silver Star will endeavor to update the project status and anticipates program commencement within 7 days.


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.

Safe harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Silver Star Energy, Inc. has little or no control.


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.