December 4, 2008

Corporate Update

TrueStar Petroleum Corporation announces the following updates to the Corporation:

Mr. David Kaplan has been appointed to the Board of Directors. Mr. Kaplan, President of DFK Productions in Malibu California, is also a major shareholder in TrueStar Petroleum.

Mr. Dennis McKnight has resigned from the Board of Directors to pursue other opportunities.

Other additions to the Board are Mr. Tyler Hendricks, Marketing Director for Whispering Hills Resort in Boone North Carolina, and Mr. Rustin Hood, Operations Manager for Whispering Hills Resort.  They will join Mark Swanson, David Kaplan and Dick Shuster.

"Although Mr. McKnight will be missed, he will continue in an advisory role assisting in raising capital and in investor relations" stated Dick Shuster, TrueStar Chairman and CEO.  "The addition of the three new members brings the added skills necessary to continue the genesis of TrueStar."

TrueStar has been working with Washington based 1st NRG, (OTC Bulletin Board: FNRC) to finalize contracts and agreements specified under a Letter of Intent recently executed with respect to exploration in Guatemala.  The two companies have been unable to finalize the terms before the expiration date as designated in the LOI.  The termination of the LOI leaves TrueStar free to consider other contenders for co-operation in Guatemala.

The company continues to work out the circumstances besetting the timing of the issuance of the 2007 audited financials, as well as the subsequent quarterly financials.  A timeline will be announced when it becomes formalized.

Progress continues on the finalization of the Bankruptcy proceedings of the Company's subsidiary, TrueStar Barnett, LLC.  The secured creditors have been satisfied and the company is now in the process of prioritizing the issues surrounding the distribution of available funds to the legitimate, unsecured, creditors.

Optima Services International recently won a summary judgment in the litigation against TrueStar.  This decision was rendered by the Houston Court three days after Hurricane Ike and travel into the city was impossible.  "We feel positive that when the Court reviews our motions that the judgment will be set aside" said Shuster.

About TrueStar
TrueStar Petroleum Corporation is an oil and gas exploration, development, and production company.  TrueStar has two 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. Additional information on TrueStar Petroleum Corporation is available at http://www.truestar-petroleum.com   

For further information:   

ON BEHALF OF THE BOARD OF DIRECTORS

"Dick Shuster"
      Dick Shuster
      Chairman & CEO