OTC Bulletin Board S & P Company Insight for STAR ENERGY CORP
Profile
	Business Summary: Star Energy Corporation, in the development stage as of March 31, 2008, has shifted its focus from domestic energy operations to operations situated in the Commonwealth of Independent States that are considered emerging markets, with a particular focus on opportunities in Ukraine.   Address   317 Madison Ave., 21st Floor   New York , NY 10017-5208   Phone: 212-500-5006   Fax: 212-986-7691   Website: http://www.starenergycorp.com Auditor   SF PARTNERSHIP, LLP Transfer Agent   Interwest Transfer Co. Inc. Employees:  5 ShareHolders:  89 Founded:  1999 Domicile:  Nevada
Background
	Star Energy Corporation, in the development stage as of March 31, 2008, has shifted its focus from domestic energy operations to operations situated in the Commonwealth of Independent States that are considered emerging markets. In particular, Star Energy is seeking to capitalize on the opportunities it believes are available to the company in Ukraine. With the disposition of certain wells and the rescission of an acquisition in 2006 and 2007, the company (as of March 31, 2008) is not engaged in an active business. Although it was in discussions regarding potential acquisitions as of May 2008, Star Energy was not at that time a party to any agreement to acquire properties or rights with respect to oil or gas properties or production. Star Energy Corporation was founded in 1999 and is headquartered in New York, New York. History:  INCORPORATED in Nevada Dec. 10, 1999, as Cairo Acquisitions, Inc.; name changed to Star Energy Corp. Nov. 21, 2002. October 6, 2006, acquired Volga-Neft Limited Company for 10,000,000 Common shares. Subsequently, the company decided to seek, and obtained, rescission of the transaction through a rescission agreement dated June 14, 2007. Under the rescission agreement, the company returned the shares of Volga-Neft it received to the former stockholders of Volga-Neft who, in turn, returned to the company the 10,000,000 shares of the company's Common stock that had been previously issued to them, and the company cancelled those shares. In addition, Volga-Neft issued a $4,200,000 promissory note in the company's favor to repay $3,000,000 of loans made to Volga-Neft since the acquisition and to reimburse the company for costs and damages incurred by the company. The company, in turn, sold the promissory note to a non-related third party on a non-recourse basis for $3,000,000.   Subsidiaries: Anglo-Ukr-Energy LLC Cosmonite Limited
Management
	Management Officers Position  Elena  Furman Investor Relations Contact Directors  F. Bryson Farrill
Annual Report
	Annual Report   Income Statement   2007 2006 Operating Expenses 7,791,565 493,873 Depreciation 2,384 -- Interest income 22,270 -- Costs associated with the rescission of the stock purchase agreement -- 650,000 Gain on sale of marketable securities 9,678 -- Gain on debt forgiven -- 30,000 Foreign exchange loss (1,369) -- Debenture interest 1,120,928 -- Income tax 1,300 -- Inc. fr. contng. opers. (8,885,598) (1,113,873) Discontd. opers. -- (56,138) Net income (8,885,598) (1,170,011) Share earns. fr. contng. opers. basic & diluted ($0.30) ($0.04) Discontd. opers. per share basic & diluted -- Nil Net income per share basic & diluted ($0.30) (0.04) Average shares 30,167,500 30,734,375   Balance Sheet   2007 2006 ASSETS Current Cash 1,048,720 1,703 Investment in Volga-Neft -- 11,700,000 Prepaid expenses and other current assets 34,556 1,080,890 Loan receivable from Volga-Neft -- 1,000,000 Total Current Assets 1,083,276 13,782,593 Equipment 31,337 -- Debt Issuance Costs 427,358 -- Total Assets 1,541,971 13,782,593 Liabilities- Current Liabilities: Accounts payable 60,859 375,327 Accrued liabilities 389,297 665,000 Advance from related party -- 2,785 Loan payable -- 1,000,000 Total Current Liabilities 450,156 2,043,112 Convertible Debentures 7,358,179 -- STOCKHOLDERS' EQUITY Common stock, par value $0.001 per share 33,866 38,738 Additional Paid-in Capital 3,794,690 12,910,065 Retained earnings (10,094,920) (1,209,322) Total Stockholders' Equity (6,266,364) 11,739,481 Total Liabilities and Stockholders' Equity 1,541,971 13,782,593 Common Shares 33,865,500 38,737,500
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2008   1 Nil   2008   2 Nil   2007   1 Nil   2007   2 Nil   2007   3 Nil   2007   4 Nil   2007   Full Year Nil   2006   Full Year 30,000   2005   Full Year 60,000     Quarterly Net Income, US$ Year Quarter Revenue   2008   1 N/A   2008   2 N/A   2008   3 N/A   2007   1 N/A   2007   2 N/A   2007   3 N/A   2007   4 N/A   2007   Full Year (8,890,000)   2006   Full Year (1,170,000)   2005   Full Year (36,000)   2004   Full Year 10,000   2003   Full Year 10,000     Quarterly EPS, US$ Year Quarter Revenue   2008   1 (.04)   2008   2 (.02)   2008   3 (.02)   2007   1 (.06)   2007   2 (.06)   2007   3 (.06)   2007   4 (.10)   2007   Full Year (.29)   2006   Full Year (.04)   2005   Full Year N/A
Stock Data
	Capitalization as of 03/31/2008:     Authorized Shares Outstanding Shares Preferred $0.001 par 5,000,000 None Common $0.001 par 225,000,000 33,865,500   LONG TERM DEBT: $7,374,864.   Common $0.001 par   Stockholders:  03/31/2008, 89. Transfer Agent:  Interwest Transfer Co. Inc.   Salt Lake City , UT   OTC Bulletin Board( Primary): SERG   Exchange Year High Low OTC Bulletin Board 2008 0.2300 0.0100 OTC Bulletin Board 2007 4.3800 0.1800 OTC Bulletin Board 2006 4.0800 0.4900   DIVIDENDS: Common $0.001 par: No cash. Common split 5-for-1, Dec. 30, 2005.