TrueStar Petroleum Corporation
TSX VENTURE : TPC

TrueStar Petroleum Corporation

October 07, 2005 13:02 ET

Truestar Hires Accounting Manager

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 7, 2005) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

The Company is pleased to announce the hiring of Luther D. Poehlmann to assume responsibility for all accounting functions of TrueStar Petroleum Corporation (TSX VENTURE:TPC) and its subsidiaries.

Mr. Poehlmann has significant experience in oil and gas accounting having served as Treasurer and Controller for General Production Co.; Zapata Exploration Company; Ascent Oil and Gas Corp.; and Ascent Production Partnership, Ltd. and as Senior Accountant for El Paso Natural Gas Company. He received his Bachelor of Business Administration Degree, Magna Cum Laude, from the University of Houston in 1978. Mr. Poehlmann is a Certified Public accountant and was a registered investment advisor with the Securities and Exchange Commission ("SEC"). He has founded and managed independent oil and gas companies/entities involved in oil and gas operations. Mr. Poehlmann has experience in acquisitions, leveraged buyouts, consolidations, tax compliance, SEC reporting and filing, and joint venture audits.

The Board of Directors has authorized a grant of up to 300,000 incentive stock options to Mr. Poehlmann, exercisable at $0.40 per Share, for a term of 5 years, under the Stock Option Plan dated January 20, 2005 and accepted by the TSX Venture Exchange on February 3, 2005. The vesting schedule is such that one-third will vest on the later of six months or the date upon which the closing stock price is $0.55 or greater for 10 consecutive trading days; one-third will vest on the later of twelve months or the date upon which the closing stock price is $0.85 or greater for 10 consecutive trading days; and one-third will vest on the later of eighteen months or the date upon which the closing stock price is $0.85 or greater for 10 consecutive trading days.

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). Working interest partners involved in the Company's various acreage holdings include publicly-listed Devon Energy (NYSE:DVN) and Carrizo Oil &Gas (Nasdaq NM:CRZO), along with other privately-held entities. TrueStar Petroleum Corporation is an oil and gas exploration and development company.

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.

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