April 29, 2008

The Class B purchase warrants issued in conjunction with a Private Placement of Calstar Oil & Gas (previously Aspire Capital) were listed on September 19, 2006, and pursuant to previous exemptions were to expire on April 30, 2008.  The Company has been granted an exemption to extend the term of the warrants for an additional five trading days following the revocation of the cease trade orders in the securities of Calstar. A bulletin announcing the new expiry date will be issued once the order has been lifted.

The warrants have an exercise price of $0.50.  

Symbol:  CALS.W 
Cusip:  13135U 11 2
New Expiry: To Be Announced

Each warrant is exercisable into one common share. The warrants contain standard anti-dilution provisions.  Listing and disclosure documents for Calstar are available in the CNQ Issuer Disclosure Hall

If you have any questions or require further information please contact Radhika Joseph at (416) 572-2000 X 2435 or E-mail: radhika.joseph@cnq.ca