Private placement completed and annual report award - Winstar Resources Ltd.

    CALGARY, Dec. 13 /CNW/ - (TSE: WIX) (the "Corporation") announces that it
has completed a private placement of flow-through common shares of the
Corporation. The private placement was undertaken on a non-brokered basis for
an aggregate of 17,860 flow-through common shares at $7.00 per share for
aggregate proceeds of $125,000 (1,500 of those shares will be issued on
Monday, December 17, 2007). The private placement was approved by the Board of
Directors on November 14, 2007, at which time, the five and 10 day weighted
average price of the common shares was $6.31 per share and $6.46 per share
    The flow-through common shares are subject to a hold period, which
expires on April 14, 2008. The private placement was a related party
transaction within the meaning of applicable stock exchange policies as 100%
of the aggregate proceeds of the private placement were from subscriptions by
directors, senior officers and employees of the Corporation and their spouses.
Proceeds from the private placement will be used to fund the Corporation's
2007 and 2008 exploration and development program.

    The Toronto Stock Exchange has in no way passed upon the merits of the
proposed transaction and has neither approved or disapproved the contents of
this press release.

    On November 21, 2007, Winstar was honoured to receive the 2007
Oilweek/ATB Financial Annual Report Award in the category of Editorial and
Graphic Design for the group Junior Oil & Gas - Class A, for its 2006 Annual
Report. The Corporation would like to recognize the skill and creativity of
the design team at Bryan Mills Iradesso, and its printer Unicom Graphics, for
their efforts on this project.

    Winstar Resources Ltd. is a junior oil and gas company with its head
office in Calgary, Alberta. The Corporation explores for, develops and sells
crude oil, natural gas liquids and natural gas in Western Canada, Tunisia and
Hungary. Winstar's common shares trade on the Toronto Stock Exchange under the
symbol WIX.

For further information:

For further information: David Monachello, President, PH: (403)
513-4200, E-mail:; Charles de Mestral, Chief Executive
Officer, PH (from Canada or USA only - toll free): 1-800-875-1217, or +41 22
949 10 40, (Note: Mr. de Mestral is based in Europe, in a time zone eight
hours ahead of Calgary time), E-mail:, Company

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Winstar Resources Ltd.

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