CAMCAP ENERGY OFFSHORE MASTER FUND, L.P. DECREASED BENEFICIAL OWNERSHIP OF SECURITIES OF PETROSANDS RESOURCES (CANADA) INC.

/NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES/

TORONTO, Jan. 19 /CNW/ - CamCap Energy Offshore Master Fund, L.P. ("CEOMF") announced that as a result of an increase of the issued and outstanding common shares of PetroSands Resources (Canada) Inc. ("PetroSands") pursuant to the completion of a private placement financing of PetroSands, it has decreased its beneficial ownership of the securities of PetroSands by approximately 3.69%.  As a result, CEOMF now beneficially owns 1,818,180 common shares and 1,818,180 common share purchase warrants, representing approximately 16.43% of the issued and outstanding common shares of PetroSands (assuming exercise of all the common share purchase warrants beneficially owned by CEOMF).

CEOMF acquired beneficial ownership of the securities for investment purposes only.  Depending on market and other conditions, CEOMF may from time to time in the future increase or decrease its ownership, control or direction over, or exercise its current rights to acquire, the common shares or other securities of PetroSands, through market transactions, private agreements or otherwise.

SOURCE CamCap Energy Offshore Master Fund, L.P.

For further information:

Karen A. Durante
CamCap Energy Offshore Master Fund, L.P.
c/o CamCap Energy Partners, LLC
45 Coolidge Point
Manchester, MA 01944
Tel: 978-526-7010
Fax: 978-526-7080

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CamCap Energy Offshore Master Fund, L.P.

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