TrueStar Petroleum Corporation - Corporate Update



    TSX - Venture: TPC

    TORONTO, Aug. 29 /CNW/ - TrueStar Petroleum Corporation (the "Company")
advises that Optima Services International, Ltd. and Balaton Group Inc. have
withdrawn their appeal of the decision of Mr. Justice Somers of the Ontario
Superior Court of Justice. This was the decision issued on June 8, 2006 ruling
that the Province of Ontario does not have jurisdiction to hear this case and
the action was set aside and stayed permanently in the Province of Ontario.
The appeal was withdrawn on a without costs basis. The merits of the case are
now to be heard in Texas.
    The Company has now filed the amended NI 51-101 requirements and is no
longer on the list of defaulting issuers in the Provinces of British Columbia
and Alberta.
    The Company also announces the resignations of board members Mr. R.P.
Eddy and Mr. Dennis Anderson. The Company wishes to thank Messrs. Eddy and
Anderson for their services to the Company. Mr. Eddy has served the Company
since December, 2005 and Mr. Anderson since February, 2007.

    About TrueStar

    TrueStar Petroleum Corporation is an oil and gas exploration,
development, and production company. TrueStar has interests in 34 producing
gas wells in the Barnett Shale gas play in Texas and a 10% interest in a
license for oil and gas development on 554,000 acres in Guatemala, and is
waiting the reassignment of the remaining 90% interest in the 554,000 acre
License. Working interest partners in Texas include publicly listed Devon
Energy (NYSE:   DVN), Carrizo Oil & Gas (Nasdaq NM: CRZO), and EnCana
(NYSE:   ECA). Additional information on TrueStar Petroleum Corporation is
available at http://www.truestar-petroleum.com.

    ON BEHALF OF THE BOARD OF DIRECTORS

    "Dick Shuster"

    -------------------------
    Dick Shuster
    Chairman and CEO

    The TSX Venture Exchange Inc. has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.





For further information:

For further information: TrueStar Petroleum Corporation, Dick Shuster:
(303) 893-2100(O), (303) 893-2101 (F), dshuster@truestar-petroleum.com; Canada
Office: (604) 669-6952 (O), (604) 669-6331 (F), Cindy Newton, Secretary,
info@truestar-petroleum.com

Organization Profile

TRUESTAR PETROLEUM CORPORATION

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