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WellStar Energy Corp. is an oil & gas company trading on the TSX Venture Exchange under the symbol WSE, under the symbol WSEYF in the US and under the symbol W6V1 on the Frankfurt Exchange. The Company recently completed the acquisition of Nexxtep Resources Ltd., a privately held oil and gas company with operations in southwestern Saskatchewan and Alberta. The acquired assets include operated working interests producing approximately 62 net barrels of oil equivalent per day from approximately 6,000 net acres. This includes 3,500 net acres in Saskatchewan prospective for the Bakken formation, with current production from 3 wells in the Red River and Winnipeg Sand formations. The Assets also include facilities consisting of a salt water disposal well, 5 x 1,000 barrel oil storage tanks and a fresh water source well. WellStar is also a non-operated working interest owner in the Bakken oil play in North Dakota and Montana with approximately 1,164 net acres. WellStar`s s focus going forward will be to allocate capital towards increasing production within its current asset base and to make strategic acquisitions within the Western Canadian Sedimentary Basin and the Rocky Mountain states.
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