Winstar Provides Updated Drilling Plans in Southern Tunisia, an Update on
Tunisian Operations and Announces the Sale of its Exploration Permit in
Hungary (Igal ll).

CALGARY, Sept. 14 /CNW/ - Winstar Resources Ltd. ("Winstar" or "the Company") (TSX: WIX) provides the following updates:

Updated Drilling Plans for Southern Tunisia:

After detailed review by the Management and the Board, the following drilling plan will be implemented:

The Company will drill a Triassic development well called CS#13 within the 100% owned and operated Chouech Essaida Triassic oil field in southern Tunisia.  This well will be the first to be drilled this fall and will spud in late September as soon as the previously announced contracted rig can be mobilized to the drilling site.  Winstar anticipates CS#13 will take approximately 30 days to drill and complete and is expected to result in incremental production and cash flow, similar to the recent development well, CS#11 (currently producing 500 barrels of oil per day with no water).  Winstar anticipates production start-up of CS#13 during December 2010.

The second new well this fall will be Chouech Essaida Silurian 1 (CS Sil#1), replacing in the Company's drilling plans the previously announced re-entry and deepening operation at the Ech Chouech Sud 1 (ECS #1) well.  CS Sil#1 will be the Company's first exploratory well to test the potential of the Silurian Acacus Formation ("Silurian") on its lands in Southern Tunisia.  Based on recent analogous discoveries and further geological studies, the Company anticipates that CS Sil#1 has the highest probability of finding Silurian oil within its two southern-most concessions, Chouech Essaida and Ech Chouech.  An oil discovery can potentially be put on production immediately whereas a gas/condensate discovery would have to wait until the gas transportation infrastructure evolves sufficiently in Southern Tunisia to move the gas to market. The CS Sil#1 location is situated in the north-east part of the Chouech Essaida concession and is characterized by the following:

					a)	Imaged by 3D seismic, this Silurian anomaly represents the typical four way closed type of structure and is also most proximal to other oil producing Acacus fields in Southern Tunisia.
					b)	Projected to encounter the Silurian approximately 270 meters shallower than ECS#1, which further enhances the possibility of making an oil discovery.
					c)	Coincident with the Silurian objective, the CS Sil #1 location has a shallower Triassic exploration target that directly offsets Winstar's Chouech Essaida Triassic oilfield.
					d)	This new 4'400 meter well is expected to spud in November of this year and take approximately 2 months to drill.

Additional information is available on the Company's website (www.winstar.ca) in the September, 2010 presentation available in the "What's New" section. 

Tunisian production update

During the first two months of Q3, 2010 Winstar produced an average of 2,100 boepd (90% crude oil and condensate and 10% natural gas) from its assets in Tunisia compared with 1,716 boepd in Q2, 2010.

The Triassic development well CS#8 continues to be suspended.   Since July 28, 2010, CS#8 has been successfully cleared of debris in the wellbore and its upper zone has been re-perforated.  The Company subsequently installed a jet pumping system to re-establish oil production and anticipates that this new system will be operational in the near future.  The Company will provide further operational updates as appropriate.

Sale of Exploration Permit Igal ll in west central Hungary

Effective August 31, Winstar Hungary transferred its 100% ownership in the Igal ll Exploration Permit in west-central Hungary to an undisclosed company in exchange for a net profits interest in future production.  The assignee will assume all future work commitments and existing surface land and wellbore reclamation liabilities associated with past exploration activities on the Igal II lands. 

BOE

References herein to "boe" mean barrels of oil equivalent and is derived by converting gas to oil in the ratio of six thousand cubic feet (Mcf) of gas to one barrel (bbl) of oil.  Boe may be misleading, particularly if used in isolation.  A boe conversion ratio of 6 Mcf to 1 bbl is based upon an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.  References herein to "boepd" means barrels of oil equivalent per day.

Forward-Looking Statements

This press release contains certain forward-looking statements. These statements relate to future events or future performance of the Company. When used in this press release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "predict", "seek", "propose", "expect", "potential", "continue", and similar expressions, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to certain events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause Winstar's actual results, performance, or achievements to materially differ from those described in this press release. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated, or expected. Specific forward-looking statements in this press release include, among others, statements pertaining to the following: factors upon which Winstar will decide whether or not to undertake a specific course of action; and estimated volumes and timing of future production; business plans for drilling, exploration and development; and other expectations, beliefs, plans, goal, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. The risks to which the Company is subject include those of the oil and gas industry in general including operational risks in exploring for, developing and producing crude oil and natural gas; risks and uncertainties involving geology of oil and gas deposits; volatility in global market prices for oil and natural gas; general economic conditions; competition; liabilities and risks, including environmental liability and risks, inherent in oil and gas operations; uncertainties as to the availability and cost of financing and changes in capital markets; alternatives to and changing demand for petroleum products; and changes in legislation and the regulatory environment, including uncertainties with respect to the Kyoto Protocol. Furthermore, statements relating to "reserves" or "resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions to the effect that the resources and reserves described can be produced profitably in the future. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. These statements speak only as of the date of this press release. The Company does not intend and does not assume any obligation, to update these forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.   

Winstar Resources Ltd. is a Calgary based junior oil and gas company, which explores for, develops, produces, and sells crude oil, natural gas liquids and natural gas in Tunisia, Romania and Hungary. Winstar's common shares trade on The Toronto Stock Exchange under the symbol WIX.

For further information:

Mr. Charles de Mestral
Chief Executive Officer
Phone: [phone]
E-mail: [email protected]

(Note: Mr. de Mestral is based in Europe, in a time zone eight hours ahead of Calgary time)

Or

Mr. David Monachello  
President 
Phone: [phone] 
E-mail : [email protected] 
Or

Mr. Bradley Giblin
Chief Financial Officer
Phone : [phone]
E-mail : [email protected]