West African 'Oil Rush' Is On, Reports Gold Star Resources Corp. CEO in AFROIL Online...

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Wed Jun 10, 2009 9:30am EDT

West African 'Oil Rush' Is On, Reports Gold Star Resources Corp. CEO in AFROIL
Online News Column

VANCOUVER, June 10 /PRNewswire-FirstCall/ -- West Africa now offers
"unparalleled opportunities" for major and independent oil and gas companies,
writes Patrick Morris, CEO of Vancouver-based Gold Star Resources Corp. (OTC
Bulletin Board: GXXFF; TSX-V; GXX; www.goldstarresources.com) in the June 10th
issue of AFROIL,  Africa Oil & Gas Monitor, an online publication of Newsbase
Ltd., Edinburgh, Scotland read by subscribers in 25 countries
(www.newsbase.com; Week 23; page 5 Guest Column).  Morris, author of a news
column published in AFROIL entitled "West African Oil Rush, Challenges",
reported that changing geopolitics, reduced security and political risks, the
recent 1.8 billion barrel  discovery in West Africa's largest oilfield, the
Jubilee in Ghana, and a new African foreign policy  by recently elected U.S.
President Barack Obama have all helped in making West Africa a "desirable
destination for oil and gas exploration and production."  

According to Morris, "For a long time West Africa has been off the radar of
the international community because of messy politics and brutal civil wars. 
Also, apart from Nigeria and Gabon, there had been the disappointing size of
oil discoveries made at times of low oil prices.  All this is now changing.
Expectations by countries and oil & gas companies to discover new reserves in
the region are high.  Exploration and seismic research activities are underway
in all countries of West Africa bar Burkina Faso and Cape Verde.  Governments
are also actively involved.  For example, in Liberia, the National Oil Company
of Liberia (NOCAL) is promoting oil and gas exploration and development of its
hydrocarbon resources along its continental shelf and slope.  The sub-region
is also gaining global attention as calm has been restored to countries such
as Liberia, Sierra Leone and Cote d' Ivoire, reducing security risks."  

"The role of junior exploration companies is to set the trend," Morris writes
in his news column.  " For example, Gold Star Resources is the first and only
junior company to go after onshore oil and gas opportunities in Cote d' Ivoire
and Liberia since the 1970s.  Larger players are competing for offshore blocks
all along the coast - but with no plans for any onshore exploration."

Gold Star Resources recently signed a Letter-of-Intent with Bengal Bight Ghana
to acquire 100% of the hydrocarbon rights to the Tiampoum mining concession,
approximately 1,000 square km, in Cote d' Ivoire.  In January, Gold Star
entered West Africa when it acquired 90% of the issued and outstanding shares
of Liberia's International Resources Strategies Liberia Energy (IRSLE).  

SOURCE  Gold Star Resources Corp.

Patrick Morris, CEO, Gold Star Resources Corp., +1-604-641-4450,
pm@goldstarresources.com
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