TrueStar Petroleum Corporation

TrueStar Petroleum Corporation

November 01, 2005 15:01 ET

TrueStar Announces Appointment of New Director

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 1, 2005) -


TrueStar Petroleum Corporation (TSX VENTURE:TPC) is pleased to announce the appointment of Sir Ian N. Rankin to the Board of Directors.

Sir Ian N. Rankin is an investor and industrialist with extensive business activities in the United Kingdom ranging across many interests and activities. "Sir Ian brings us a strong presence in the U.K. and the London financial community. His wide range of contacts and long-term business experience will be very helpful considering our large shareholder base in London. His strong background in the oil and gas industry will also be of great assistance in directing TrueStar's future growth," said Charles Kohlhaas, Chairman of TrueStar's Board.

After preparatory education at Eton and military service as a Scots Guards officer, Sir Ian graduated from Christ Church College at Oxford University. He worked as a journalist and writer for several years with material appearing in various periodicals including the Sunday Times, Observer, News Chronicle, Country Life and as advertising copy writer at Colman Prentis & Varley, and S.H. Benson.

Sir Ian left advertising and has founded, managed, and invested in companies in various industries including textiles, opticals, oil and gas exploration and production, temporary employment services, and industrial and consumer safety equipment. He has served as Chairman and Director of several public and private companies including Highgate Optical & Industrial Ltd., B.S. Group Plc., Lindsay & Williams Ltd., Bayfine Ltd., Content Beheer, I. N. Rankin Oil Ltd., Slumberfleece Ltd., I. N. Rankin Sales, and Active Health Partners.

"TrueStar is fortunate to have a distinguished and highly-regarded businessman such as Sir Ian N. Rankin, already a shareholder, join its Board of Directors. Sir Ian's broad-based experience across many industries and unparalleled contacts will prove invaluable to our operational growth and financing objectives," said Robert E. Chamberlain, Jr., CEO of TrueStar.

About TrueStar

The Company's focus is on the efficient development of hydrocarbons in North and Central America while maintaining high standards of environmental responsibility. TrueStar now has interests in 27 producing natural gas wells (19 vertical and 8 horizontal), 1 horizontal well drilled and completing, 1 horizontal well drilled awaiting completion and one horizontal well drilling. Third-party evaluation of TrueStar's assets show 30.6 BCF of total Proved gas reserves with future net revenues, discounted at 10% per year of US$73.6 million. Working interest partners involved in the Company's various acreage holdings include publicly-listed Devon Energy (NYSE:DVN) and Carrizo Oil &Gas (NASDAQ:CRZO), along with other privately-held entities. TrueStar Petroleum Corporation is an oil and gas exploration and development company.


Charles A. Kohlhaas, Chairman of the Board

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

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