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Silver Star Energy Drills "Archer-Tsakopoulos #1" Well at North Franklin -- To Be Completed As Fourth Gas Well in Reservoir

Posted on: Wednesday, 16 August 2006, 09:00 CDT

Silver Star Energy, Inc. (OTCBB: SVSE) today is pleased to report that the "Archer-Tsakopoulos #1" well was successfully drilled to depth and will now be completed as the fourth gas well at North Franklin, Sacramento, California. A suite of electronic logs confirmed 100% gas filled sand in the producing Winters Formation. Casing was set and the well is to be perforated, completed and tied-in to the pipeline from the Winters sands.

The new gas well will add to current production from the Company's three (3) gas wells: the "Archer-Whitney #1,""Archer-Wildlands #1" and "Archer-F1" which totaled 125.713 MMCF in July. The Company anticipates a 25% increase in net monthly gas production from the addition of this well.

The Company is also pleased to report the next gas well, the "Archer-Wurster #1," is expected to spud tomorrow. Silver Star and partners are executing a 2 well drilling program targeting further production at North Franklin.

ABOUT SILVER STAR ENERGY, INC.

The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high quality, low risk prospects provided via key strategic alliance partnerships.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the acquisition of oil and gas reserves, (specifically respecting new drilling and production activities at North Franklin) any near-term production or cash flow and our ability to become cash flow positive in the short term to allow us to re-invest production dollars to enhance and grow company assets. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the numerous inherent uncertainties associated with oil and gas exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2005 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD

Silver Star Energy, Inc.

Robert McIntosh - President

To find out more about Silver Star Energy, Inc. (OTCBB: SVSE), visit our website at www.silverstarenergy.com.

 Investor Information: 1-888-803-SVSE (7873) Silver Star Energy, Inc.  

SOURCE: Silver Star Energy, Inc.

Source: MARKET WIRE

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