February 5, 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 February 29, 2008.  The Company has been granted an exemption to extend the term of the warrants for additional 60 days, with an amended exercise price of $0.50.

The warrants have an exercise price of $0.25 until February 29, 2008, inclusive.  The exercise price will be $0.50 from  March 1, 2008, until expiry on April 30, 2008.  

Effective Date:  March 1, 2008
Symbol:  CALS.W 
Cusip:  13135U 11 2
New Expiry: April 30, 2008

 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: [email protected]