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CALGARY, May 9 /CNW/ -- /THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO

ANY UNITED STATES NEWS SERVICES/

CALGARY, May 9 /CNW/ - Great Plains Exploration Inc. ("Great Plains") (TSX-GPX) and RedStar Oil and Gas Inc. ("RedStar") (TSX-RED) are pleased to announce that the plan of arrangement (the "Arrangement") under the Business Corporations Act (Alberta) involving Great Plains and RedStar has been completed effective today.

Pursuant to the Arrangement, Great Plains has acquired all of the issued and outstanding common shares of RedStar ("RedStar Shares") in exchange for approximately 32.2 million Great Plains shares. It is anticipated that the RedStar Shares will be delisted from the TSX at the close of trading on Wednesday, May 14, 2008.

With the transaction being completed, Messrs William Gallacher and Gary Dundas will join the Board of Directors of Great Plains, while Mr. Garth MacRae will step down as a director. Both Mr. Gallacher and Mr. Dundas have over 25 years of experience in the oil and gas and merchant banking industries in Canada and serve on the boards of several public Canadian companies. Mr. Stephen Gibson stated "We would like to thank Mr. Garth MacRae for his generous allocation of time and service as a director and past Chairman of the Board, as well as Chairman of our Audit Committee. He has played a key role in the development of Great Plains from start-up to a fully operating entity, and we will miss his support and years of experience that he brought to the Board."

Reader Advisory

This news release contains forward-looking statements which include, but are not limited to: operations plans and outlook, expectations, the effect of the transaction, timing of matters relating to the approval and implementation of the transaction, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Companies believe that the expectations reflected in such forward-looking statements are reasonable, they cannot give any assurance that such expectations will prove to be correct or that the proposed transaction will be completed or required shareholder and regulatory approvals will be received. Results of the Companies may be affected by a variety of variables and risks associated with oil and gas exploration, production and transportation, such as loss of market, volatility of oil and gas prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, ability to access sufficient debt and equity capital from internal and external sources, ability to replace and expand oil and gas reserves, ability to generate sufficient cash flow from operations to meet its current and future obligations, and risks associated with existing and potential future lawsuits and regulatory actions made against the Companies; as a consequence, actual results could differ materially from those anticipated or implied in the forward-looking statements.

The Companies' forward-looking statements are expressly qualified in their entirety by this cautionary statement and are made as of the date of this news release. Unless otherwise required by applicable securities laws, the Companies do not intend nor do they undertake any obligation to update or review any forward-looking statements to reflect subsequent information, event, results or circumstances or otherwise, except as may be required by applicable securities laws.

The TSX has neither approved nor disapproved of the contents of this

press release.

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