WI The Western Investment Company of Canada Limited

Eagle Star Petroleum Corp. (TSX VENTURE:EGE)(CNQ:EAGL)(FRANKFURT:E6R) ("Eagle
Star" or "the Company") is pleased to announce the acquisition of a 30% working
interest ("WI") in block Rec-T-166 in the Reconcavo Basin, Brazil, together with
its partners Starfish Oil & Gas S.A. ("Starfish"), an independent Brazilian
company (40% WI), and SOMOIL INTERNACIONAL DE PETROLEO DO BRASIL LTDA.
("Somoil"), out of Angola (30% WI), in which Starfish will be the operator. The
partners acquired the block following the competitive tender of the 9th Bid
Round organized by the ANP, the Brazilian Petroleum state regulatory authority
("ANP"). 


Located some 50kms north of Salvador, the block Rec-T-166 lies within the highly
sought after Reconcavo Basin, which to date has produced 1.46 billion barrels of
oil (BBL) and has an estimated recoverable reserves of 300 million BBL
remaining. Current production in this on-shore basin is 44,000 BBL and 137
million cubic feet (MMCF) of gas per day (Source ANP bid round information
2007).


The Company's 30% WI is held by its 100% owned Brazilian subsidiary Eaglestar
Petroleo do Brasil Ltda.; cost of the acquisition is a signature bonus of
R$255,022 Reals (Canadian dollar equivalent $150,000 CAD), which has been paid,
and requires work commitment of R$1,134,000 Reals (Canadian dollar equivalent
$667,000 CAD) over two years, which has been secured by an insurance bond.


Dr. Martin Keeley, Chief Operating Officer of Eagle Star, stated, "We are very
pleased with our first international acquisition, and the promise it holds for
Eagle Star. The location presents us with good potential at relatively low risk
and the opportunity to increase our involvement in other exciting international
oil and gas opportunities with the help of our well established partners."


Eran Friedlander, President and Chief Executive Officer of Eagle Star,
commented, "We look forward to working with our new partners on this first
international prospect and into the future. We believe that having Starfish, a
leading Brazilian oil and gas company as operator, and Somoil, a strong African
oil and gas player as equal partner, will be beneficial in our quest to expand
internationally. With the help of our new acquisition, Starfish aims to reach
its production goal of 3,000 barrels of oil per day by 2009, and we look forward
to being participants towards its realization."


About the Company

Eagle Star Petroleum Corp. is a Canadian oil and gas exploration company
headquartered in Vancouver, British Columbia. The Company's shares are publicly
traded on the TSXv under the symbol EGE, on the CNQ exchange under the symbol
EAGL and on Frankfurt Stock Exchange under the symbol E6R.


About Starfish Oil and Gas

Starfish Oil & Gas S.A. was founded on August 9, 1999 as the first independent
Brazilian petroleum company. It focuses on petroleum and natural gas exploration
in Brazil and internationally and is an operator of producing fields in Brazil.


About Somoil 

Somoil was the first Angolan private company to enter the Oil Exploration and
Production market in 2002. It operates in research, development and production
of crude oil with participation interest in 11 blocks in Angola and 7 blocks in
Brazil.


On behalf of the Board of Directors

EAGLE STAR PETROLEUM CORP.

Eran Friedlander, President

Forward-Looking Statements 

This document includes forward-looking statements that are not historical facts.
Forward-looking statements include, but are not limited to, statements
concerning Eagle Star's program in Brazil having good potential at relatively
low risk and the opportunity to increase our involvement in other exciting
international oil and gas opportunities; and regarding Starfish's goal to reach
3,000 barrels of oil per day by 2009 and other statements. Although Eagle Star
believes that its expectations reflected in these forward looking statements are
reasonable, such statements involve risks and uncertainties and no assurance can
be given that actual results will be consistent with these forward-looking
statements. Factors that could cause actual results to differ materially include
the uncertainty of the requirements demanded by environmental agencies, the
Company's ability to raise financing for operations, breach by parties with whom
we have contracted, inability to maintain qualified employees or consultants,
competition for equipment, inability to obtain drilling permits, potential
delays or obstacles in drilling operations and interpreting data, and the
likelihood that no commercial quantities of gas are found or recoverable.
Readers should also review the corporation's periodic filings with Canadian
securities regulators for additional risk factors.

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