Tuesday, August 4, 2009

Clinton African Trip Bolsters U.S. Oil Game Plan, says Gold Star Resources CEO

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4 Aug 2009 12:45 Africa/Lagos

Clinton African Trip Bolsters U.S. Oil Game Plan, says Gold Star Resources CEO

China and U.S. Race To Offer 'Infrastructure Aid In Exchange for Oil' Policies

VANCOUVER, Aug. 4 /PRNewswire/ -- "U.S. United States Secretary of State, Hillary Clinton's trip beginning today through August 11th in Africa is part of President Barack Obama's White House energy resources strategy to offset China's growing economic clout on the African continent," said Patrick Morris, President and CEO of Gold Star Resources Corp. (TSX-V; GXX; OTC Bulletin Board: GXXFF), a Canadian-based company focused on the strategic acquisition of highly prospective oil and gas projects in West Africa. "China has been aggressively offering infrastructure aid in exchange for oil in Africa and the White House clearly wants to offset that Chinese game plan with one of its own. U.S. President Barack Obama's Ghana visit last month and his Secretary of State's extended visit this week have proven the importance of Africa to America's energy security policy."

According to Morris, "Last week's Strategic and Economic Dialogue held in Washington, D.C. between the Obama White House and China officials included discussions about China's aggressive aid to African nations. China's economic trade in Africa hit $107 billion in 2008 and there are now 750,000 Chinese workers living and working in Africa. Sources in both Washington, D.C. and Africa have confirmed that U.S. Secretary of State Clinton's subtle diplomatic strategy is to offer African leaders infrastructure assistance in exchange for oil resources and increased energy investments on the African continent. This could portend an explosion of offshore and onshore oil and gas exploration especially in West and East African as a direct result of this shift in U.S.-Africa relations."

Clinton is expected to visit Liberia during this week's African policy trip. Gold Star Resources Corp. recently acquired International Resource Strategies Liberia Energy, Inc. whose sole asset is the onshore 1,366 sq. km. hydrocarbon reconnaissance license NR-001 within the Roberts Bassa Basins of south coastal Liberia. The company also signed a Letter of Intent with Bengal Bight Ghana Ltd., a Ghanaian company, to acquire 100% interest in the hydrocarbon rights of Bengal's 1,000 sq. km. Tiampoum mining concession in Cote d'Ivoire, near the border with Ghana.

"U.S. Secretary of State Hillary Clinton's visit to Liberia is timely and will greatly enhance infrastructure investing in that West African nation," said Morris. "Liberia's political climate has become increasingly stable in recent years and the government is encouraging international investment in oil and gas exploration. Gold Star's own energy exploration strategy includes securing a portfolio of 'onshore' sections of land along the West African coast. Clinton's travel plans to Liberia, of course, greatly interests us."

Source: Gold Star Resources Corp.

CONTACT: Patrick Morris, President and CEO of Gold Star Resources Corp.,
+1-604-641-4450, pm@goldstarresources.com

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