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Groundstar Resources Ltd.

Published : July 17th, 2008

Withdraws Private Placement Offering

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Keywords :   Market | Market Conditions | Middle East | Oil |
Groundstar Resources Limited Withdraws Private Placement Offering
CALGARY, ALBERTA--(Marketwire - July 17, 2008) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Due to current adverse market conditions in the energy sector, Groundstar Resources Limited (TSX VENTURE:GSA) (the "Company") has decided to withdraw its private placement offering announced on June 30, 2008. The Company currently has sufficient working capital to continue with its business plan. Market conditions will be monitored moving forward so that the Company will be in a position to raise capital when market sentiment becomes more favourable for junior exploration companies.

Groundstar is a publicly traded Canadian junior oil and gas company actively pursuing exploration opportunities in Guyana, North Africa and the Middle East.

This press release does not constitute an offer to sell or the solicitation of an offer to purchase securities in the United States.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Jason Krueger, CFA
Redwood Capital Corporation
Telephone: (403) 374-1234
Email: jason@redwood-capital.com
Web: www.redwood-capital.com


The information transmitted is privileged, confidential and may be subject to copyright and is intended solely for the use of the individual or entity to which the transmission is addressed. This transmission is provided for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction. Any unauthorized use, distribution, review or disclosure is prohibited. If you received this in error, please notify the sender and delete or destroy this message and any copies.

Groundstar Resources Ltd.
CODE : GSA.V
ISIN : CA3999002080
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Groundstar is a exploration company based in Canada.
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Financings of Groundstar Resources Ltd.
5/29/2009Closing of Non-Brokered Financing
7/17/2008Withdraws Private Placement Offering
6/30/2008Announces $15,000,000 Private Placement Offering of Special ...
Option Grants of Groundstar Resources Ltd.
5/29/2009Announces Granting of Incentive Stock Options
Nominations of Groundstar Resources Ltd.
9/14/2012Confirm New Directors and Appointment of COO
7/18/2008Appoints New Director and Grants Incentive Options
Financials of Groundstar Resources Ltd.
9/28/2012Files Quarterly Financial Results and Provides Corporate Upd...
Project news of Groundstar Resources Ltd.
3/7/2011Provides Update on the Apoteri K-2 Exploration Well in Guyan...
Corporate news of Groundstar Resources Ltd.
9/9/2015IIROC Trading Halt - GSA; SHJ
6/11/2014IIROC Trading Resumption - GSA
6/10/2014IIROC Trading Halt - GSA
10/29/2012Update
8/19/2011News Release
4/7/2011News Release
3/8/2011Provides Update on Egyptian Operations
4/21/2010Announces Execution of Rig Contract for Guyana Exploration W...
9/29/2009to Adopt US Dollar Reporting Currency
9/25/2009Announces Additions to Board of Directors
6/30/2009Completes Seismic Acquisition
5/14/2009to Reduce Its Interest in the Takutu Basin
1/27/2009Completes 2D Seismic Acquisition
9/16/2008Announces Commencement of West Kom Ombo Seismic Program
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