TrueStar Petroleum Corporation
TSX VENTURE : TPC

TrueStar Petroleum Corporation

March 22, 2006 11:37 ET

TrueStar Announces Change in Auditor

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2006) - TrueStar Petroleum Corporation (TSX VENTURE:TPC) announces that it has engaged BDO Dunwoody LLP as its auditors until the next annual general meeting at a remuneration to be fixed by the directors. Morgan & Company, Chartered Accountants, resigned as auditors for TrueStar effective January 17, 2006 stating that they do not have the physical resources to staff the Company's needs properly as a result of the increasing size and scope of TrueStar's business. TrueStar and Morgan & Company have no disagreements on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.

The BDO organization has offices in both Vancouver and Houston and is experienced in dealing with companies with multi-national activities such as TrueStar. "TrueStar's reporting and auditing requirements became much more complicated in 2005. BDO's breadth and depth of organization and experience should be of great benefit to us as we continue to grow. We look forward to BDO's assistance in working with us to meet our reporting and filing obligations," stated Robert E. Chamberlain, Jr., CEO.

The Company would like to thank Morgan & Company for their past services and their co-operation with the transition.

About TrueStar

TrueStar Petroleum Corporation is an oil and gas exploration and development company with its focus on the efficient development of hydrocarbons in North and Central America while maintaining high standards of environmental responsibility. Its primary assets are located in the United States and Guatemala. TrueStar now has interests in 29 producing natural gas wells (19 vertical and 10 horizontal); 4 horizontal wells awaiting sales meter hookup and 1 horizontal wells drilled awaiting stimulation. Working interest partners involved in the Company's various acreage holdings include publicly-listed Devon Energy (NYSE:DVN), Carrizo Oil & Gas (Nasdaq NM:CRZO), and EnCana (NYSE:ECA) along with various privately-held entities. Additional information on TrueStar Petroleum Corporation is available at http://www.truestar-petroleum.com.

ON BEHALF OF THE BOARD OF DIRECTORS

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.

Contact Information