KIEV, Aug. 14 – U.S.-based Star Energy Corp. and its Ukrainian subsidiary, Kiev-based Anglo-Ukra Energy, have announced the acquisition of rights to three oil and gas projects in Ukraine whose overall estimated reserves top 100 million barrels of oil and 150 billion cubic feet (2.25 billion cubic meters) of natural gas.

The corporation acquired the rights and interests in exchange for the issuance to Firecreek of 2,100,000 shares of the company's common stock and $100,000, to PJM of 150,000 shares of the company's common stock and $10,000, and to Double Coin of 2,500,000 shares of the company's common stock.