GROUNDSTAR RESOURCES LIMITED
Suite 1650, 717 7th Ave. S.W., Calgary, Alberta, T2P 0Z3
Telephone: (403) 265-2549
Facsimile: (403) 265-2558
NEWS RELEASE
GSA-TSX Venture Exchange
June 26, 2009
Groundstar Consortium Completes Seismic Acquisition
Kam Fard, President and Chief Executive Officer of Groundstar Resources Limited ("Groundstar") is pleased to announce that Groundstar’s consortium has completed the acquisition of its 2-D seismic program over the surface structure that dominates the Qara Dagh block.
The 355-kilometre program was completed successfully using a combination of vibrator and dynamite sources. Processing has commenced and interpretation will follow once final processed sections are received. Interpretation of the data is expected to resolve the subsurface structural model and identify potential reservoir sections leading to the selection of a drilling location. The first drilling location is expected to be identified by the end of the third quarter of 2009. Groundstar holds a 6% participating interest in a Production Sharing Contract with the Kurdistan Regional Government in the 846 square kilometre Qara Dagh block in Sulaymaniyah governorate of the Federal Region of Kurdistan - Iraq.
Groundstar is a publicly traded Canadian junior oil and gas company actively pursuing exploration opportunities in Guyana, North Africa and the Middle East.
FOR FURTHER INFORMATION CONTACT:
Kam Fard
President & CEO
(403) 265-2549
kfard@groundstarresources.com
Jason Krueger, CFA
Investor Relations
Telephone: (403) 374-1234
jason@redwood-capital.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
