Liberian Energy Company Acquisition Supports Oil Company's Strategy
VANCOUVER, June 25 Gold Star Resources Corp.'s (TSX-V: GXX; OTC Bulletin
Board: GXXFF; www.goldstarresources.com) recent acquisition of International
Resource Strategies Liberia Energy Inc. (IRSLE) boosts the Canadian oil
exploration firm's plans to develop new hydrocarbon deposits in Liberia. Gold
Star Resources announced on June 12th that it has officially acquired IRSLE.
Gold Star Resources is the first Canadian junior oil company active in
'onshore' oil and gas projects in Cote d'Ivoire and Liberia since the late
According to Patrick Morris, President and CEO of GXX, "The acquisition
of IRSLE in Liberia is part of our overall strategy to pursue new hydrocarbon
deposits in that West African nation. The Liberian political environment has
stabilized and we're seeing a more positive reception from local governments
encouraging investment in new oil exploration projects. Gold Star Resources
intends to set the trend for junior resource companies seeking to gain a
profitable presence in Liberia and elsewhere in West Africa. We recently
signed a Letter-of-Intent with a Ghanaian company, Bengal Bight Ghana Ltd. to
acquire 100% interest in the hydrocarbon rights of Bengal's 1,000 sq. km.
Tiampoum mining concession in Cote d'Ivoire, near the border of Ghana."
Morris is excited about his company's strategy to secure "onshore" oil
and gas opportunities on Cote d'Ivoire and Liberia because, "larger energy
companies are competing for 'offshore' resources all along the African coast,
but have not expressed any true interest for any 'onshore' oil and gas
exploration. That's fine with us. We see substantive exploration
opportunities onshore. While the larger energy firms develop deepwater areas
demanding considerable initial capital expenditures, Gold Star Resources can
aggressively move forward onshore where it can find abundant acreage and
favorable capital terms for its potential oil and gas projects."
For further information:
For further information: Patrick Morris, President and CEO of Gold Star
Resources Corp., +1-604-641-4450, email@example.com Web Site: