TRSI Trophy Resources Inc (PK)

ALPHARETTA, GA President and CEO Joseph Canouse is offering the following statement to outline an update on the company and update the investment community at large regarding the current state of the company:

In my last communication, I endeavored to outline my vision and plans for the company. One of those goals was to communicate more openly with shareholders and update you on a more regular basis than had been happening in the past. Since then, there have been a number of developments which have made that difficult and I would like to explain.

After securing the cooperation of our creditors, Trophy was hit with outstanding invoices, questions of title and subsequently a lawsuit against the company and me personally, by the successor to a previous operator on its wells. Trophy engaged legal counsel to review the lawsuit and operating agreement along with an engineering firm to review the viability of the wells in relation to the outstanding and anticipated future expenses. In short, it was concluded that even if Trophy been in a position to pay the outstanding AFE's, it would not make economic sense. Trophy had to deal with a lawsuit brought against it by the operator and in settlement had to give up its claims for interest in those wells. Our only recourse is to investigate whether or not we have a claim against the original operator, which we are doing, and if such a claim is worth pursuing.

The opportunities available to Trophy have been limited due to its balance sheet and lack of funds. In light of those limited prospects and the high capital costs of entering the energy industry at this point, the company has now appointed John Rose as CEO and Mark Davis as President and I will be subsequently stepping down.

Mr. Rose has served in senior management in several companies in both the private and public sectors. Mr. Davis has founded several companies and launched startups. They have a vision and plan to expand a niche in an emerging market in Latin America that will take the company in a new direction. Information regarding the new direction will be forthcoming.

Trophy Resources, Inc. (www.trophyoil.com) is an independent natural resource company with the goal of controlling lease hold acreage and mineral rights. Trophy's oil interests are in the Fort Worth Basin in central Texas, Williston Basin, Montana and the Wind River Basin in Wyoming. Trophy expects to acquire advanced-stage projects and/or producing mines in some of the most prolific precious metal districts in the world. The Company's goal is to evaluate profitable options, build a solid foundation of assets through acquisition of land and/or leases, and explore and develop opportunities on these leases.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Trophy Resources, Inc. is an exploration company with limited experience in the oil and gas industry. At the time of this release Trophy Resources lacks the financial capabilities to meet its financial obligations and its management expects to dilute the company's shares to raise the necessary operating capital. Based upon industry standards Trophy would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider are that this list is limited and additional risk not mentioned may apply: failure to meet Trophy's financial and contractual obligations, Trophy's managerial errors made based upon the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.

Contact: Mr. Joseph Canouse 770-521-1330 ext 222 Joe.canouse@jpccapital.com

Trophy Resources (PK) (USOTC:TRSI)
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Trophy Resources (PK) (USOTC:TRSI)
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