SOURCE: Titan Oil and Gas, Inc.

November 13, 2008 09:00 ET

Titan Oil and Gas Updates Shareholders in Regard to Proxy Vote Status, Name Change and Management Additions

Titan Oil and Gas Management Adds to Its Team While Moving on Vote of Confidence From Shareholders Regarding Proxy

AUSTIN, TX--(Marketwire - November 13, 2008) - Titan Oil and Gas Inc. (PINKSHEETS: TNOG), has been given a vote of confidence by stockholders as they have given a overwhelming majority of acceptance to the proposals made by management in its recent proxy vote. As a means of acting on this mandate, current management is joining with two new team members who promise to act quickly and decisively to further company ambitions.

Vic Devlaeminck has come on as CFO and Director, while Shelby Clark has finished his term and left the Company to pursue other opportunities. Matthew Lipton will be also joining the Company as a Vice President of Acquisitions and Finance as well as Director. Both Mr. Lipton and Mr. Devlaeminck are attorneys with extensive backgrounds in business marked by both prestige and achievement.

As VP of Acquisition, Mr. Lipton brings over 16 years of experience working as in house counsel and with law firms providing counsel to a wide array of companies, corporate managers and investors regarding corporate/transactional matters. Mr. Lipton has also served in a variety of roles as either a corporate officer or director for several companies. Mr. Lipton co-founded a biotech company, Abitis Pharmaceuticals, in 1996. Abitis later merged with Zengen, Inc. in Los Angeles in 1999. Mr. Lipton assisted Zengen in raising two rounds of capital and assisted in the sale of Zengen's interest in Zicam TM to its joint venture partner.

Mr. Devlaeminck has over 30 years of experience in accounting and tax law having been both a practicing lawyer and certified public accountant [CPA] for these past three decades. His work has given him a breadth and depth of both GAAP standards and tax law that few others can claim. As CFO, Mr. Devlaeminck brings a skill set that will prove invaluable as the Company works in both the petroleum and renewable power industry, both of which require a broad knowledge of legal and regulatory opportunities that can deeply affect the bottom line.

To continue in the spirit of confidence given to the company, management will move to convene its stockholder committee to enhance the already productive relationship between investors and management. The name agreed upon by stockholders in the proxy vote was Green Star Energies. The name and symbol change will be undertaken as the company rebrands in the months to come.


Titan is an energy company with interests in oil and gas development, drilling and production. Titan follows an aggressive business model, focusing on redevelopment of oil and gas fields with a history of production, and also, exploration of green projects and businesses such as biodiesel and wind power. For further information about Titan Oil and Gas please visit our website at or blog at

Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Titan Oil and Gas, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. Please read the full disclaimer here:

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