WellStar Energy has entered into a purchase and sale agreement relating to the acquisition of an interest in the Assets.

The company says that Netherland, Sewell & Associates, Inc., a qualified reserves evaluator, has prepared a National Instrument 51-101 compliant report dated January 24, 2013 and prepared as of October 31, 2012 (the "Report") estimating reserves and future net revenues for certain non-operated oil and gas properties consisting of approximately 18,271 gross (7,273 net) contiguous acres in Dunn County, North Dakota (the "Assets").

The Company has entered into a purchase and sale agreement relating to the acquisition of an interest in the Assets (the "Acquisition"). Closing of the Acquisition is subject to, among other things, the Company securing satisfactory financing and obtaining approval of the TSX Venture Exchange, including review of a title opinion with respect to the Assets. There can be no assurance that the Acquisition will be completed as proposed or at all and trading in the Company's shares should be considered highly speculative.

Tags: WellStar Energy Corp.