April 10, 2008

Operational Update

TrueStar Petroleum announces the execution of a contract with China Carbon Corporation.

The objective of the contract is to allow TrueStar and China Carbon Corporation to cooperate in sourcing financing and in the growth of projects which will be developed and registered as Clean Development Mechanism projects and deliver Certified Emission Reductions.

"To be associated with an organization like China Carbon Corporation and to commence efforts to solidify our prospective projects in China is yet another step in the ‘re-genesis’ of TrueStar", stated TrueStar Chairman and CEO Dick Shuster.  "It is a major stride forward in our efforts to increase shareholder value while fulfilling our mission of becoming a strategically profitable, safe and environmentally conscious organization."

The Company also announces the acceptance of the resignation of Board member Russell Cohen.  Leaving to devote more time to his own, growing business, his experience and perspective were appreciated and will be missed.

TrueStar has requested an extension for the filing of our audited 2007 financials.  A set of mitigating circumstances, centering primarily around the Chapter 11 Bankruptcy filing of the TrueStar Barnett subsidiary is the reason.  "We felt that performing the audit correctly rather than quickly was paramount at this stage of our growth" stated Shuster.

Work continues to have the Guatemalan license reassigned. Currently the company is discussing the project with a number of interested parties who have passed our initial level of scrutiny.  It is hoped to have a partner selected in the near future so efforts to develop this project can be realized.

The sale of the Barnett Shale properties is under the timing restrictions of the US Bankruptcy Court in Dallas.  An initial offer of $20.1 million US has been registered with the Court.  A subsequent hearing will allow previously qualified bidders to raise that price.  A release on the results of that hearing will be made upon formal acknowledgement by the Court.

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

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TrueStar Petroleum Corporation

ON BEHALF OF THE BOARD OF DIRECTORS

"Dick Shuster"
      Dick Shuster
      Chairman & CEO