TrueStar Petroleum Corporation
TSX VENTURE : TPC

TrueStar Petroleum Corporation

November 04, 2005 14:12 ET

TrueStar Petroleum Corporation: Update of November 1, 2005 News Release

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 4, 2005) - TrueStar Petroleum Corporation (TSX VENTURE:TPC) -

The Company would like to confirm that in reference to its News Release of November 1, 2005 the effective date of the Harper and Associates Reserve Report is August 1, 2005. For further information please see TrueStar's News Release dated October 11, 2005. Mr. Harper's report was done in accordance with SEC guidelines rather than to COGE Handbook guidelines and calculates Net Present Value using constant costs and gas prices before income tax. Net Present Value does not necessarily represent fair market value.

The TSX Venture Exchange has asked the Company to clarify that the market will determine its share pricing rather than Mr. Harper's Evaluation Report as stated in the Nov 1, 2005 News Release.

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. 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.

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