Star Petroleum Corp.

Star Petroleum Corp.

December 10, 2007 17:57 ET

Star Petroleum Corp.: Company Reports Name Change and Reorganization

CALGARY, ALBERTA--(Marketwire - Dec. 10, 2007) - On behalf of Star Petroleum Corp. (the "Company") (PINK SHEETS:SPMP) President Rod Burns, P. Eng., today reports that the Company has completed a corporate name change and reorganization of its share capital in advance of a number of business initiatives currently being explored. The new name of the Company is Exact Energy Resources, Inc.

"Management believes that the new name of the Company reflects a more diverse spectrum of business opportunities in the Resource sector" said Rod Burns, President of the Company. "In conjunction with changing the name of the Company, the common shares were consolidated on a one hundred and fifty old for one new basis, and effective, Tuesday, December 11, 2007, will trade under the new symbol "EXER".

"We believe the new corporate structure will make the company more attractive to the financial community and will provide a superior platform upon which we can build our business. We believe that the company is now in a much better position to pursue certain strategic business opportunities that have been presented to us", he continued.

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Contact Information

  • Exact Energy Resources, Inc.
    Investor Relations