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TRSI News Trophy Resources Announces New Officers
Tuesday, June 17, 2008 11:01 AM

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News for 'TRSI' - (Trophy Resources Announces New Officers)


ALPHARETTA, GA, Jun 17, 2008 (MARKET WIRE via COMTEX) -- Trophy Resources
(PINKSHEETS: TRSI) 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

[e-mail]





SOURCE: Trophy Resources, Inc.




CONTACT: mailto:[e-mail]




Copyright 2008 Market Wire, All rights reserved.

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SUBJECT CODE: Manufacturing and Production:Mining and Metals

Energy and Utilities:Oil and Gas

Source: Comtex Wall Street News
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