SOURCE: Tradestar Resources Corporation

November 13, 2007 09:00 ET

Tradestar Resources Retains Emrich & Scroggins, LLP; Fiscal 2007-08, Quarter II Financial Reports Are Released

HOT SPRINGS, AR--(Marketwire - November 13, 2007) - Tradestar Resources Corporation (PINKSHEETS: TSRR), an independent energy company engaged in the exploration, development, exploitation and acquisition of domestic on-shore oil and natural gas properties, is pleased to announce they have retained the services of Emrich & Scroggins, LLP, Certified Public Accountants.

After a review of the company's accounting policies and practices, Emrich & Scroggins recommended revisions designed to insure that all financial records and statements in compliance with Generally Accepted Accounting Principles (GAAP). Approved by the Tradestar Board of Directors, recommended changes in Depreciation and Depletion Allowances policies resulted in one-time adjustments on the Second Quarter, Fiscal Year 2007-2008 reports. The current quarter's full report can be found at www.Tradestar-Corp.com or www.PinkSheets.com.

A series of changes in company operations during the current fiscal year's first and second quarters resulted in significant reductions in Lease Operating Expenses and even greater reductions in year-to-date Net Operating Losses. Continued reductions in lease and other operating expense together with planned expansions of current operations should result in further reducing Net Operating Losses during the second-half of the fiscal year ending March 31, 2008.

About Tradestar: Tradestar Resources Corporation strives to enhance asset value by expanding oil and natural gas reserves raising production levels and increasing cash flow. Tradestar intends to foster its growth as an independent oil and gas company by investing in only proven producing wells.

Additional company information is available at www.tradestar-corp.com.

DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Tradestar Resources Corporation's filings with the Securities and Exchange Commission. These risks could cause Tradestar Resources Corporation's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Tradestar Resources Corporation.

For further information, please visit our website (www.tradestar-corp.com)

Contact Information

  • Contact:
    Investor Relations firm, A. S. Austin & Company
    1-702-386-5379