UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                   FORM 10-KSB

[X] ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
    OF 1934

                   For the fiscal year ended December 31, 2004

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
    OF 1934

 For the transition period from ______________________ to ______________________

                         Commission file number 0-27229

                             WORLDSTAR ENERGY, CORP.
                 (Name of small business issuer in its charter)


NEVADA                                                      88-0409163
------                                                      ---------------
(State or other jurisdiction of                             (I.R.S.  Employer
incorporation or organization)                              Identification No.)



          4181 NORFOLK AVENUE BURNABY, BRITISH COLUMBIA CANADA V6C 3A6
          ------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

                    Issuer's telephone number (604) 434-5256

         Securities registered under Section 12(b) of the Exchange Act:

                                 Not applicable.

         Securities registered under Section 12(g) of the Exchange Act:

                    COMMON STOCK , WITH A PAR VALUE OF $0.001
                    -----------------------------------------
                                (Title of class)



<PAGE>

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation  S-B is not  contained  in  this  form,  and no  disclosure  will  be
contained,  to the  best of  registrant's  knowledge,  in  definitive  proxy  or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB [ ].

The issuer's revenues for its most recent fiscal year were $nil.

Based on the  closing  sale  price of  $10.05  for our  common  stock on the OTC
Bulletin  Board  System  on  April  21,  2005,  the  aggregate  market  value of
outstanding  shares of common  stock held by  non-affiliates  was  approximately
$1,779,694.

As of May 3, 2005,  177,084  shares of our common stock,  $.001 par value,  were
outstanding.

Documents incorporated by reference:

         o     The proposed  acquisition  of WorldStar  Energy Corp.  concerning
               which the Company filed a Definitive 14C Information Statement on
               March 18, 2005, with the Securities and Exchange Commission.

         o     Articles of  Incorporation  (incorporated  by reference  from our
               Registration Statement on Form 10-SB filed on September 3, 1999)

         o     Bylaws (incorporated by reference from our Registration Statement
               on Form 10-SB filed on September 3, 1999)



Transitional Small Business Disclosure Format (Check one):
Yes [ ] No [X]



                                      -2-

<PAGE>


                                      INDEX


PART 1
       ITEM 1     DESCRIPTION OF BUSINESS                                      5
                  GENERAL                                                      5
                  OUR CURRENT BUSINESS                                         7
                  PLAN OF OPERATION                                            8
                  CASH REQUIREMENTS                                            9
                  PURCHASE OF SIGNIFICANT EQUIPMENT                            9
                  EMPLOYEES                                                    9
                  EVALUATION OF OPPORTUNITIES                                  9
                  ACQUISITION OF OPPORTUNITIES                                10
                  REPORTS TO SECURITY HOLDERS                                 11
       ITEM 2 DESCRIPTION OF PROPERTY                                         12
       ITEM 3 LEGAL PROCEEDINGS                                               12
       ITEM 4 SUBMISSIONS OF MATTERS TO A VOTE OF SECURITY HOLDERS            12

PART II
       ITEM 5 MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS        14
              DIVIDEND POLICY                                                 14
              RECENT SALE OF UNREGISTERED SECURITIES                          14

       ITEM 6 MANAGEMENT'S DISCUSSION & ANALYSIS OR PLAN OF OPERATION         15
                      GENERAL                                                 L5
                      COMPARISON OF 2004 RESULTS OF OPERATIONS  WITH 2003     15
                      LACK OF REVENUES                                        15
                      EXPENSES                                                15
                      LIQUIDITY AND CAPITAL RESOURCES                         16
                      PLAN OF OPERATION FOR 2005                              16
                      CASH REQUIREMENTS                                       16
                      PRODUCT RESEARCH AND DEVELOPMENT                        16
                      PURCHASE OF SIGNIFICANT EQUIPMENT                       17
                      EMPLOYEES                                               17
                      NEW ACCOUNTING PRONOUNCEMENTS                           17

       ITEM 7 FINANCIAL STATEMENTS AND AUDITORS REPORTS THEREON              F-1

       ITEM 8 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
                      ACCOUNTING MATTERS AND FINANCIAL DISCLOSURE             19

       ITEM 8A    CONTROLS AND PROCEDURES                                     20

       ITEM 8B    OTHER INFORMATION                                           20

                                      -3-
<PAGE>

PART III
       ITEM 9     DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
                  PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE
                  ACT                                                         21

       ITEM 10    EXECUTIVE COMPENSATION                                      23

       ITEM 11    SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
                  MANAGEMENT AND RELATED STOCKHOLDER MATTERS                  25

       ITEM 12    CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS              25

       ITEM 13    EXHIBITS AND REPORTS AND MATERIAL AGREEMENTS                26

       ITEM 14    ACCOUNTANTS                                                 27


SIGNATURES                                                                    28


                                      -4-


<PAGE>

PART I


FORWARD-LOOKING   STATEMENTS   This  annual  report   contains   forward-looking
statements as that term is defined in the Private  Securities  Litigation Reform
Act of 1995.  These  statements  relate to future events or our future financial
performance.  In some cases,  you can  identify  forward-looking  statements  by
terminology such as "may", "will", "should", "expects", "plans",  "anticipates",
"believes",  "estimates",  "predicts", "potential" or "continue" or the negative
of these  terms or  other  comparable  terminology.  These  statements  are only
predictions  and  involve  known  and  unknown  risks,  uncertainties  and other
factors,  including the risks in the section  entitled "Risk Factors",  that may
cause our or our industry's actual results,  levels of activity,  performance or
achievements  to be  materially  different  from any future  results,  levels of
activity,   performance   or   achievements   expressed   or  implied  by  these
forward-looking statements.

Although  we believe  that the  expectations  reflected  in the  forward-looking
statements  are  reasonable,  we  cannot  guarantee  future  results,  levels of
activity,  performance or  achievements.  Except as required by applicable  law,
including the securities  laws of the United States,  we do not intend to update
any of the  forward-looking  statements  to conform  these  statements to actual
results.

ITEM 1.  DESCRIPTION OF BUSINESS

All dollar amounts refer to US dollars unless otherwise indicated.

GENERAL

As used in this annual report, the terms "we", "us", "our", and "WorldStar" mean
WorldStar  Energy,   Corp.   (formerly  Auteo  Media,  Inc.),  unless  otherwise
indicated.

WorldStar  was  incorporated  on November 8, 1996 under the laws of the State of
Nevada under the name Flintrock  Financial  Services,  Inc.  Concurrent with the
reverse  merger  with Tysa  Corporation  on March 1, 2000 we changed our name to
Auteo Media, Inc. effective March 14, 2000. On April 1, 2005 we changed our name
to WorldStar Energy, Corp.

We were initially focused on operating as an automotive  communications  company
offering  online  and   point-of-purchase   marketing,   commerce  and  customer
relationship  systems to auto dealerships.  We captured revenue from dealerships
at multiple  stages in the process of marketing  new and used  vehicles to their
buyers.  The  California and Northwest  Dealer  Specialties  business  collected
automotive  data and digital  pictures and printed  customized  window labels on
behalf of car  dealerships.  The data was sent to multiple  automotive  internet
sites  including the  dealerships'  in some cases.  Our Company also created and
managed web sites for car  dealerships  under our  Go2Dealer.net  trade name and
offered lead management services to several dealerships with its ContactAuto.com
software.  The majority of our revenues came from dealerships  paying us for our
data  collection  and window label  services.  This revenue was collected at the
time the service was provided and not dependant upon the sale of the vehicle.

On July 15,  2002,  substantially  all of the assets  relating to our  Company's
primary  operations  were  purchased by the Trader  Publishing  Company.  Trader
Publishing is the largest  automotive  classifieds  company in the United States
and has been acquiring  certain  companies in the data collection  business.  In
2000,  Trader  Publishing  purchased  Dealer  Specialties  Intl.  and their next
largest  competitor.  Auteo  Media was a licensee of Dealer  Specialties,  Intl.
under separate  franchise  agreements for Washington and California.  During the
second quarter of 2002 Trader  Publishing or their  subsidiary  company acquired
the assets of certain licensee's, demonstrating their intent of competing in the
data collection  market. We believed these events presented certain risks to our
ability to grow and compete  effectively  in the data  collection  business as a
large,  established  and well funded company such as Trader  Publishing or their
subsidiaries  would also be competing in our markets.  Because of these  events,

                                      -5-

<PAGE>

our Board of  Directors  actively  sought  negotiations  with,  and  secured  an
agreement whereby the Trader Publishing  Company acquired  substantially all our
assets related to the data collection business from Auteo Media for $1.5 million
less  certain  hold backs.  The  remaining  operations  of our  business,  which
included web site management services for automotive dealerships, cannot operate
profitably.  Effective July 16, 2002, we stopped or scaled back most  operations
in order to protect the cash position of our Company acquired from Trader in the
asset sale.

On July 15, 2002, we entered into a license  agreement with  Motorwebs,  Inc. to
manage  the  remaining   customers  for  an  up-front   license  fee  and  other
consideration. Motorwebs, Inc. was a new corporation operated by Ronald Clayton,
previously the President of the Company.  Mr. Clayton  resigned from our Company
effective July 15, 2002, without dispute, to begin this venture.

On July 29, 2002, our Company filed a Tender Offer Statement,  as amended,  with
the Securities and Exchange Commission wherein we offered to purchase all of the
issued and outstanding shares of our common stock,  together with the associated
rights,  for $0.14 net per share in cash.  The Offer expired on August 29, 2002.
Pursuant to the Offer, we accepted for payment  5,595,869  shares,  representing
approximately 76% of the outstanding shares of our common stock.

As a result of the sale of substantially  all of our assets to Trader Publishing
Company,  Albert James resigned from our board of directors effective August 29,
2002, Mike Morrison resigned from our board of directors effective September 10,
2002,  Steve Van Leeuwen  resigned as our Chairman and Chief  Executive  Officer
effective  September 10, 2002 and Kathleen Van Leeuwen resigned as our Secretary
and Director effective September 10, 2002.

Effective  September 5, 2002,  we  appointed  Donald Bell as our  President  and
Director.  Mr. Bell was also  appointed our  Secretary  and Treasurer  effective
September 10, 2002.

Effective  October 24,  2002,  we  appointed  Kyle  L.Tingle as our  independent
accountant to replace Grant Thornton who resigned as our independent accountants
on August 19, 2002.

Effective  December  2, 2003,  we  appointed  Michael  Kinley as a director  and
President.  Mr.  Bell,  remained a director,  and was  re-appointed  to serve as
Chairman and Secretary on December 2, 2003.  Effective  June 30, 2004,  Mr. Bell
resigned as an officer and Director of the Company.

Effective  January 1, 2004, the Company was considered to be in the  development
stage.

On January 26, 2005, the Company  entered into a share  exchange  agreement (the
"Agreement")  with WorldStar  Energy Corp ("WEC"),  a private  British  Columbia
company, whereby it is proposed that the Company will issue 31,000,000 shares to
acquire 100% of WEC's outstanding  shares. WEC has an 80% interest in a methanol
joint venture project in Indonesia (the "Project"). Its interest is held through
its 80% owned  subsidiary,  PT MubaStar  International,  the remaining 20% being
owned by PT Muba Chemicals, an Indonesian state-owned company.

 The Company  filed a Definitive  14C  Information  Statement on March 18, 2005,
with the  Securities  and Exchange  Commission in  connection  with its proposed
issuance  of  the  31,000,000  shares  to  acquire  WEC,  and  certain  proposed
amendments to its Articles of Incorporation increasing its authorized capital to
100,000,000  shares and changing  the name of the Company to  WorldStar  Energy,
Corp  ("WorldStar").  The transaction has not closed as of the date hereof,  and
will only close concurrent with the completion of the following requirements:

         1.    WEC confirming,  to the  satisfaction of the Company,  sufficient
               debt and or equity financing to adequately carry out the Project;
         2.    completion of a independent due diligence report on the Project;

                                      -6-

<PAGE>

         3.    receipt of WEC's  audited  financial  statements,  together  with
               appropriate  undertakings  of its compliance with all appropriate
               regulatory requirements.

Following the closing of the  transaction  contemplated  by the  Agreement,  the
Company  will own 100% of the  outstanding  shares of WEC, but will be accounted
for as a reverse merger or re-capitalization.

Effective February 28, 2005, the Company appointed Dohan and Company,  CPA's, P.
A. as our independent auditors to replace Mr. Kyle Tingle who resigned effective
the same date.


OUR CURRENT BUSINESS

During the year ended  December  31,  2004,  the  Company did not have an active
business  and was  actively  seeking a suitable  merger  candidate  or  business
opportunity.  On January 26, 2005,  the Company  entered into the Agreement with
WEC referred to in the  previous  paragraph.  The  following is a summary of the
Project  contemplated  by the  transaction  with WEC,  which  will only  proceed
subject to the  closing  requirements  detailed  above.  This  summary  has been
extracted  from  an  Information   Package  document  prepared  by  PT  MubaStar
International ("MubaStar").

The  Project is to develop a methanol  plant at  Sungaililin  in Musa  Banyuasin
(Muba),  South  Sumatra,  Indonesia  with a total  capacity of 1,250,000  metric
tonnes per year,  together with the contruction of a 60 km gas pipeline from the
Pulau Gading gas field at JOB  Pertamina  YPF Jambi  Merang  working area to the
methanol  plant,  and a 90 km pipeline to transport the product  (methanol) from
the plant to the loading terminal at Tanjung Kempah. MubaStar has selected Lurgi
OEL Gas Chemie  GmbH of  Frankfurt,  Germany  to provide a detailed  feasibility
study supervise the construction ands  implementation of the Megamethanol  plant
Project.  Environmental  impact assessments and  socio-economic  studies will be
conducted by Sriwijaya  University of South Sumatra and the Environmental Impact
Management Agency.

Successful  implementation of the Project can only occur if WEC and MubaStar are
able to arrange for  sufficient  debt and / or equity  financing,  and can enter
into  firm  contractual  arrangement  covering,  but  not  limited  to,  foreign
investment  approval,  natural  gas  supply,  plant  construction,  land use and
product (methanol) sales. Once all of these components are in place, the Project
would still take approximately three years from commencement to completion.

To date, WEC has made the following progress, listed in chronological order:

         1.    September  15, 2004 - WEC signed a  Memorandum  of  Understanding
               ("MOU") with PT Muba  Chemicals to form a joint  venture  company
               (MubaStar) to undertake the Project;
         2.    December 14, 2004 - WEC and Muba Chemical  signed a Joint Venture
               Agreement;
         3.    December  16, 2004 - WEC  received a letter  from Muba  Chemicals
               confirming land availability for the Project (300 hectares)
         4.    December  16, 2004 - WEC  received a letter  from Muba  Chemicals
               confirming,  subject to appropriate  payment,  that they are in a
               position to arrange the supply of 150 MMCFD of natural gas for 15
               years for the Project;
         5.    January 14, 2005 - WEC and PT Muba Chemical  received an approval
               letter for foreign  investment  from The Investment  Coordinating
               Board
         6.    January  17,  2005 - WEC signed a MOU with Lurgi AG,  Germany for
               the preparation of a detailed feasibility study for the Project;
         7.    January  27,  2005  -  MubaStar  signed  a MOU  with  PT  Asiatic
               Universal  Indonesia  concerning  the  development  of  a  Liquid
               Petroleum Plant to be located near the Project;
         8.    February  6, 2005 -  MubaStar  signed a MOU with  Guancai  Energy
               (Hong Kong) Company  Limited  concerning the off-take  (sales) of
               1,200,000 MT per year of methanol.

                                      -7-

<PAGE>

         9.    April  6,  2005 -  MubaStar  signed  a MOU  with Al  Jaber  Group
               Establishment  of UAE concerning the  transportation  of finished
               methanol to customers in Asia.

While the above  milestones  represent  significant  progress  by WEC toward the
eventual  implementation  of the Project,  all of the above  agreements  must be
converted  from MOU  status to signed  contracts  in order  for the  Project  to
proceed.


PLAN OF OPERATION

During the year ended  December  31,  2004,  the  Company did not have an active
business  and was  actively  seeking a suitable  merger  candidate  or  business
opportunity.  On January 26, 2005,  the Company  entered into the Agreement with
WEC as detailed above.

The Company's  plan of operation  will now depend upon the timing of the closing
of its  transaction  with WEC,  which as stated  above,  is  dependent  upon the
occurrence of those future events (see General Section) which cannot be assured.
Prior to closing,  the Company will be working with WEC,  legal  counsel and its
other due  diligence  advisors to fully  evaluate the  potential of the Project.
This phase should be completed in the third quarter of 2005.

Upon closing of the Agreement, the Project schedule from beginning to completion
would appear as follows on a quarterly basis,  assuming closing of the Agreement
takes place in Q3, 2005:

<TABLE>
<CAPTION>

     ------------------------------- -----------------------------------------------------------------
                QUARTER                                     PROJECT MILESTONE
     ------------------------------- -----------------------------------------------------------------
<S>                                  <C>
     Q2 - 2005                       Pre closing due diligence
     ------------------------------- -----------------------------------------------------------------
                                     First financing for due diligence and transaction costs
     ------------------------------- -----------------------------------------------------------------
     Q3 - 2005                       Assessment of due diligence report
     ------------------------------- -----------------------------------------------------------------
                                     WEC arranges project  financing,  likely to be completed through
                                     the Company
     ------------------------------- -----------------------------------------------------------------
                                     WEC converts existing MOU's into firm contractual arrangements
     ------------------------------- -----------------------------------------------------------------
                                     Closing and concurrent completion of major equity financing
     ------------------------------- -----------------------------------------------------------------
                                     Commencement of Detailed Feasibility Study by Lurgi AG
     ------------------------------- -----------------------------------------------------------------
     Q4 - 2005                       Pre - engineering design of plant
     ------------------------------- -----------------------------------------------------------------
                                     Engineering   procurement  and  construction  contractor  to  be
                                     decided
     ------------------------------- -----------------------------------------------------------------
                                     Commercial arrangements for utilities to be in place
     ------------------------------- -----------------------------------------------------------------
     Q1 - 2006                       Environmental  impact  studies and  responses to  community  and
                                     stakeholder issues / comments
     ------------------------------- -----------------------------------------------------------------
                                     Land acquisition and permitting
     ------------------------------- -----------------------------------------------------------------
     Q2 - 2006                       Site clearing and beginning of construction
     ------------------------------- -----------------------------------------------------------------
                                     Recruitment for operations
     ------------------------------- -----------------------------------------------------------------
                                     Civil site preparation
     ------------------------------- -----------------------------------------------------------------
     Q3 - 2006 to Q2 - 2007          Structural steel piping and major process equipment installation
     ------------------------------- -----------------------------------------------------------------
     Q1 - 2007 to Q1 - 2008          Pipeline,    receiving   station,   terminal   procurement   and
                                     construction
     ------------------------------- -----------------------------------------------------------------
     Q2 - 2007                       All major equipment on site
     ------------------------------- -----------------------------------------------------------------
     Q2 - 2007 to Q4 - 2007          Control system testing
     ------------------------------- -----------------------------------------------------------------
     Q2 - 2008                       First methanol production
     ------------------------------- -----------------------------------------------------------------
</TABLE>

                                      -8-

<PAGE>

As of the date  hereof,  neither  the  Company or WEC has  completed a financing
sufficient to undertake the Project as outlined above.

CASH REQUIREMENTS

We anticipate that we will require approximately $300,000 over the twelve months
ending  December  31,  2005,  for general  and  administrative  expenses  and to
complete  our  due  diligence  on the  merits  of the  Project  even  if the WEC
acquisition  fails to close. We will be dependent upon proceeds from the sale of
our securities to accommodate this requirement.

Should the  transaction  concerning the Agreement  close,  the Company will also
have arranged  significant  additional  equity  financing as part of the closing
requirements.


PRODUCT RESEARCH AND DEVELOPMENT

We do not anticipate that we will expend any significant  monies on research and
development over the next twelve months.


PURCHASE OF SIGNIFICANT EQUIPMENT

We do not intent to purchase  any  significant  equipment  through  December 31,
2005, other than the possible requirements of the WEC Project. Following closing
of that Agreement,  should it occur,  the Company would require  suitable office
space and related  furniture and equipment.  The estimated  expenditure would be
approximately $50,000.


EMPLOYEES

Over the twelve  months  ending  December 31, 2005, we anticipate an increase in
the number of employees,  and requisite facilities,  only if the WEC transaction
closes.  Post closing,  but still in the  pre-construction  Project  phase,  the
Company could add as many as 20 staff, comprised of 5 people in Canada and 15 in
Indonesia.

EVALUATION OF OPPORTUNITIES

To date in fiscal  2005,  the Company  has devoted all of its effort  toward the
evaluation of the WEC project,  including analysing (a) the available technical,
financial and  managerial  resources;  (b) working  capital and other  financial
requirements;  (c) history of operations,  if any; (d) prospects for the future;
(e)  present  and  expected  competition;  (f) the  quality  and  experience  of
management  services which may be available and the depth of that management;(g)
specific risk factors not now foreseeable but which may be anticipated as having
an impact on our proposed activities; (h) the potential for growth or expansion;
(i) the potential for profit; (j) the perceived public recognition or acceptance
of products, services or trades; and (k) name identification.

Management  will  meet  personally  with WEC  management  and its key  personnel
combination as part of their investigation. To the extent possible, we intend to
utilize  written  reports  and  personal  investigation  to  evaluate  the above
factors.  We will not  acquire  or merge  with any  company  for  which  audited
financial statements cannot be obtained.

                                      -9-

<PAGE>

This Project  will present  certain  risks,  many of which cannot be  identified
adequately prior to completing our due diligence,  and if appropriate,  becoming
more  involved.  Our  shareholders  must,  therefore,  depend on  management  to
identify and evaluate  such risks.  This Project is still in the  conceptual  or
development  stage (in that it has not generated  significant  revenues from its
principal  business  activities  prior to our  participation).  Even  after  our
participation,  there is a risk that the  combined  enterprise  may not become a
going  concern  or  advance  beyond the  development  stage.  Such risks will be
assumed by us and, therefore, our shareholders.

The  investigation of this business  combination and the negotiation,  drafting,
and  execution  of  relevant  agreements,   disclosure   documents,   and  other
instruments  will require  substantial  management time and attention as well as
substantial  costs for accountants,  attorneys and others. If a decision is made
not  to   participate   in  the  Project  the  costs  incurred  in  the  related
investigation would not be recoverable.

Furthermore,  the failure to consummate  the WEC  transaction  may result in the
loss by of the related  costs  incurred.  There is the  additional  risk that we
would then not find a suitable  alternative target.  Management does not believe
that we will generate revenue without finding and completing this acquisition or
a  transaction  with  another  suitable  target  company.  If no  such  business
opportunity  target is found,  therefore,  no  return  on an  investment  in our
Company will be realized,  and there will not, most likely,  be a market for our
shares of common stock.


ACQUISITION OF OPPORTUNITIES

In  implementing a structure for any particular  business  acquisition,  we will
become a party to a merger with another  corporation or entity. The proposed WEC
acquisition is one such transaction.  That Agreement requires us to purchase all
of WEC's stock in exchange for 31,000,000  shares of the Company's  stock in the
form  of  a  reverse  takeover  and   re-capitalization,   which  required  both
shareholder  approval and a disclosure  document.  The Company therefore filed a
Definitive 14C Information  Statement on March 18, 2005, with the Securities and
Exchange  Commission in connection with its proposed  issuance of the 31,000,000
shares to acquire  WEC,  and  certain  proposed  amendments  to its  Articles of
Incorporation  increasing  its  authorized  capital  to  100,000,000  shares and
changing the name of the Company to WorldStar Energy,  Corp  ("WorldStar).  Once
this transaction is complete,  our present  management and shareholders will not
be in control of our Company. In addition,  our officers and directors,  as part
of the terms of the  transaction,  will  remain with the Company but will become
part of a larger organization.

The  securities  issued  as part of this  re-capitalization  will be  issued  in
reliance on exemptions from  registration  under applicable  securities laws. In
some   circumstances,   however,  as  a  negotiated  element  of  the  potential
transaction,  we may agree to register  such  securities  either at the time the
transaction  is  consummated,  under certain  conditions or at a specified  time
thereafter.  The  issuance  of  substantial  additional  securities,  and  their
potential  sale into any trading  market in our shares of common stock which may
develop,  may have a  depressive  effect on the  market for and the price of our
shares of common stock.

As part of our investigation of WEC, our officers and directors will (and have):

(a) meet  personally  with  management and key personnel;  (b) visit and inspect
material facilities;  (c) obtain independent analysis or verification of certain
information provided; (d) check references of management and key personnel;  and
(e) take other  reasonable  investigative  measures,  as our  limited  financial
resources and management expertise allow.

With respect to any mergers or acquisition, management will be expected to focus
on the percentage of our company which the target company's  shareholders  would
acquire in exchange for their  shareholdings  in the target  company.  Given the
potential of the Project and the related  financing  requirements  upon closing,
management  believes  it to be  appropriate  to issue a  significant  number  of
shares,  and accordingly  leaving existing  shareholders  subject to significant

                                      -10-

<PAGE>

reduction in percentage  ownership since WEC would be a company with substantial
assets.  This  acquisition,  once  effected  by us can  be  expected  to  have a
significant  dilutive  effect  on the  percentage  of  shares  held by our  then
shareholders.

During  the  fiscal  year  ended  December  31,  2004,  we  reviewed a number of
potential  business  opportunities,  which except for the WEC transaction,  were
determined  not  suitable  to  pursue  having  regard  to a  number  of  factors
including, among other things, our Company's limited resources.


REPORTS TO SECURITY HOLDERS

Under the  securities  laws of Nevada,  we are not required to deliver an annual
report  to our  shareholders  but we  intend  to send an  annual  report  to our
shareholders.


                                      -11-


<PAGE>


                                     ITEM 2.

DESCRIPTION OF PROPERTY.

Our  principal  executive  office is located at 4181  Norfolk  Avenue,  Burnaby,
British  Columbia.  We occupy these  premises on a  proportional  cost basis for
office rent and administration services and expenses, on a month-to-month basis.


                                     ITEM 3.

LEGAL PROCEEDINGS.

We know of no material,  active or pending legal proceedings against us, nor are
we involved as a plaintiff in any material proceedings or pending litigation.

There are no proceedings in which any of our directors,  officers or affiliates,
or any  registered  or  beneficial  shareholders  are an adverse  party or has a
material interest adverse to us.


                                     ITEM 4.

SUBMISSIONS OF MATTERS TO A VOTE OF SECURITY HOLDERS.

On June 25, 2002, we filed a Schedule 14A Proxy  Statement  with the  Securities
and  Exchange  Commission  in  regards to the sale of  substantially  all of our
assets.  We held a Special Meeting of our shareholders on July 13, 2002, to vote
on two resolutions: the sale of substantially all of the assets of the Company's
data  collection  business and for any other  business  that may come before the
meeting. We had 7,996,481 shares outstanding.  The votes registered in person or
proxies were 4,960,190 or 62% of the  outstanding  shares.  A quorum was reached
and voting on the issues occurred.  Item #1 To approve the sale of substantially
all of our assets  that  related  directly to the  business of creating  vehicle
window labels,  collecting and  disseminating  unique vehicle  description data.
Votes for this resolution were 4,268,500 or 86% of the represented shares. Votes
against this resolution were 691,690 or 14% of the  represented  shares.  It was
therefore  approved by the shareholders to sell the assets to Trader Publishing.
Item #2 Put forth for shareholder vote to transact such business as may properly
come before the Special  Meeting and any  postponement  or adjournment  thereof,
there  were no  further  items  brought  forth  for  vote  and the  meeting  was
adjourned.

On July 29, 2002, our company filed a Tender Offer Statement,  as amended,  with
the Securities and Exchange Commission wherein we offered to purchase all of the
outstanding shares of our common stock, together with the associated rights, for
$0.14 net per share in cash.  The  Offer  expired  August  29,  2002.  Effective
September  22,  2002,  5,595,869  shares of our common  stock were  returned  to
treasury, representing approximately 76% of the outstanding shares of our common
stock.

There were no matters  submitted  to a vote of the security  holders  during the
fiscal year ended December 31, 2003.

The Company filed a Definitive Information  Statement,  Schedule 14C Information
Statement on February 5, 2004,  with the Securities  and Exchange  Commission in
connection with the proposed combination (reverse-split) of the Company's common
stock  on  a  1-for-15  basis.  A  resolution  authorizing  the  proposed  stock
combination was consented and approved to in writing by the holders of more than
51 percent of our outstanding  common stock.  Accordingly,  it was not necessary

                                      -12-

<PAGE>

for the  Company  to call a special  meeting of  stockholders  to  consider  the
proposed stock  combination.  The effective date for the reverse split was March
4, 2004.

As a subsequent event, the Company filed a Definitive 14C Information  Statement
on March 18, 2005,  with the  Securities  and Exchange  Commission in connection
with its  proposed  issuance  of  31,000,000  shares to  acquire  WEC, a private
British Columbia  company,  and certain  proposed  amendments to its Articles of
Incorporation  increasing  its  authorized  capital  to  100,000,000  shares and
changing the name of the Company to WorldStar Energy,  Corp. The transaction has
not closed as of the date hereof.






                                      -13-


<PAGE>


                                     PART II


ITEM 5.  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

Our  common  stock  is  quoted  on the  OTC  Bulletin  Board  under  the  symbol
"WSTR"(formerly "AUOM", and "AUTM"). Our common stock began quotation on the OTC
Bulletin Board on March 1, 2000. The following  quotations  reflect the high and
low bids for our common stock (before price adjustment for 15 to 1 reverse split
in Q1 of 2004) based on inter-dealer prices,  without retail mark-up,  mark-down
or commission and may not represent actual transactions. The high and low prices
of our common stock (obtained from Canada  Stockwatch and Yahoo Finance) for the
periods indicated below are as follows:


         ------------------------------ -------------- ---------------
                      QUARTER ENDED          HIGH             LOW

         ------------------------------ -------------- ---------------
         March 31, 2003                      n/a              n/a
         ------------------------------ -------------- ---------------
         June 30, 2003                       n/a              n/a
         ------------------------------ -------------- ---------------
         September 30, 2003                 $0.12            $0.05
         ------------------------------ -------------- ---------------
         December 31, 2003                  $0.16            $0.06
         ------------------------------ -------------- ---------------
         March 31, 2004                     $6.75            $5.00
         ------------------------------ -------------- ---------------
         June 30, 2004                      $6.30            $1.65
         ------------------------------ -------------- ---------------
         September 30, 2004                 $6.25            $3.25
         ------------------------------ -------------- ---------------
         December 31, 2004                  $9.00            $5.15
         ------------------------------ -------------- ---------------

Our  shares  of common  stock  are  issued in  registered  form.  Pacific  Stock
Transfer,  500 E.  Warm  Springs  Road,  Suite  240,  Las  Vegas,  Nevada  89120
(Telephone  702.361.3033,  facsimile 702.433.1979) is the registrar and transfer
agent for our shares of common stock.

As of December 31, 2004, we had 177,084 shares of common stock outstanding (post
reverse split) and  approximately  100  stockholders  of record.  This number of
stockholders  does not include  stockholders  who hold our  securities in street
name.


DIVIDEND POLICY

We have not declared or paid any cash dividends  since  inception.  We intend to
retain  future  earnings,  if any, for use in the operation and expansion of our
business and do not intend to pay any cash dividends in the foreseeable future.

Although  there are no  restrictions  that limit our ability to pay dividends on
our shares of common stock,  we intend to retain future  earnings for use in our
operations and the expansion of our business.



RECENT SALES OF UNREGISTERED SECURITIES


The Company did not issue any shares during the year ended December 31, 2004.

                                      -14-

<PAGE>

Pursuant to the  closing of the WEC  transaction,  the  Company  will be issuing
31,000,000  shares to the  shareholders of WEC, a private  company  incorporated
under  the laws of  British  Columbia,  Canada.  The  closing  of this  proposed
transaction  has not  occurred  as of the date  hereof,  and is  subject  to the
fulfillment of a number of requirements of the share exchange agreement.



                                     ITEM 6.

MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

The  following  discussion  should  be read in  conjunction  with our  financial
statements and the related notes that appear elsewhere in this annual report.

The following  discussion contains  forward-looking  statements that reflect our
plans,  estimates and beliefs.  Our actual results could differ  materially from
those discussed in the forward looking  statements.  Factors that could cause or
contribute to such differences  include, but are not limited to, those discussed
below and elsewhere in this annual report,  particularly in the section entitled
"Risk Factors" found under "Item 1. Description of Business".



GENERAL

We did not have an operating  business  during the year ended December 31, 2004.
On January 26, 2005, the Company entered into the Agreement with WEC referred to
earlier in this document.

RESULTS OF  OPERATIONS  FISCAL YEAR ENDED  DECEMBER 31, 2004  COMPARED TO FISCAL
YEAR ENDED DECEMBER 31, 2003

We incurred a net loss of ($134,382)  from  operations for the fiscal year ended
December  31,  2004  compared  to a net loss of  ($102,182)  for the year  ended
December 31, 2003. The net loss from  continuing  operations is due primarily to
costs  associated  with actively  seeking an acquisition of a suitable  business
opportunity.  We have generated a cumulative  loss since  inception of $496,123.
Due to our  continued  losses and lack of revenues  there is  substantial  doubt
about our ability to continue as a going concern.

During 2004, we did incur costs of $94,786  relating to the  investigation  of a
methanol plant project in Indonesia, the project which is being acquired through
the share  exchange with WEC.  Discussion  and analysis  related to  significant
operating activities undertaken during the year is set out below.

LACK OF REVENUES

At this time,  our ability to generate any revenues  continues to be  uncertain.
The auditor's report on our December 31, 2004,  financial statements contains an
additional  explanatory paragraph which identifies issues that raise substantial
doubt about our ability to continue as a going concern. The financial statements
do not  include  any  adjustment  that  might  result  from the  outcome of this
uncertainty.

EXPENSES

We anticipate general administrative and operational expenses for the year ended
December 31, 2005, to be approximately  $300,000. The increase from the previous
year  relates  to the  WEC  transaction  which  will  have  transaction  and due
diligence  costs  even if the  transaction  fails to close.  If the  transaction
closes,  the Company will have an additional need for improved office facilities
at an estimated  immediate  cost of $50,000.  We will be dependent upon proceeds
from the sale of our securities for these near term funding requirements.

                                      -15-

<PAGE>

LIQUIDITY AND CAPITAL RESOURCES

These  financial  statements have been prepared on the basis of a going concern,
which contemplates the realization of assets and the satisfaction of liabilities
in the normal course of business.  Our Company has suffered recurring losses and
has not generated profitable operations since inception.  The continuance of our
company as a going  concern  is  dependent  on  obtaining  financing  from third
parties.

We are currently  relying on our existing  cash reserves to fund our  continuing
operating  expenses and to fund the  identification and evaluation of a suitable
business  opportunity  or  business  combination.  As of  December  31, 2004 and
December  31, 2003,  our cash and cash  equivalent  balances  were $2,100 and $8
respectively.  We anticipate that we will require additional  financing in order
to continue seeking a suitable business opportunity or business combination.  We
would likely seek to secure any additional financing necessary through a private
placement of our shares of common stock.

PLAN OF OPERATION FOR THE 12 MONTHS ENDING DECEMBER 31, 2005

We are  pursuing  the  completion  of its  proposed  merger  with  WEC.  The due
diligence  process,  including an international  energy consultant and our legal
counsel, should be completed in the third quarter. If recommended, closing would
then occur,  together with the  financing  required to implement the Project and
the commencement of the detailed  feasibility  study. We estimate that the costs
of ongoing  administration  and the Project due  diligence  up to closing  could
total  $300,000.  This funding has not yet been committed as of the date hereof,
although negotiations are in progress.

Should closing occur,  operational costs in the fourth quarter would increase as
a result of additional  employees both in Canada and Indonesia,  and the cost of
the detailed feasibility study for the Project. The funding for these additional
post closing  obligations is the responsibility of WEC and a condition precedent
of closing the transaction.

CASH REQUIREMENTS

Until additional  financing is confirmed,  there is substantial  doubt about our
ability  to  continue  as a  going  concern  due to the  losses  incurred  since
inception, our stockholders' deficiency, and lack of revenues.

We anticipate that we will require approximately $300,000 over the twelve months
ending  December  31,  2005,  for general  and  administrative  expenses  and to
complete  our  due  diligence  on the  merits  of the  Project  even  if the WEC
acquisition  fails to close. We will be dependent upon proceeds from the sale of
our securities to accommodate this requirement.

Should the transaction concerning the Agreement close, WEC, through the Company,
will also have arranged  significant  additional equity financing as part of the
closing requirements.


PRODUCT RESEARCH AND DEVELOPMENT

We do not anticipate that it will expend any significant  monies on research and
development over the next twelve months.

                                      -16-

<PAGE>

PURCHASE OF SIGNIFICANT EQUIPMENT

We do not intent to purchase  any  significant  equipment  through  December 31,
2005, other than the possible requirements of the WEC project. Following closing
of that Agreement,  should it occur,  the Company would require  suitable office
space and related  furniture and equipment.  The estimated  expenditure would be
approximately $50,000.


EMPLOYEES

Over the twelve  months  ending  December 31, 2005, we anticipate an increase in
the number of employees only if the WEC transaction  closes.  Post closing,  but
still in the  pre-construction  Project phase, we could add as many as 20 staff,
comprised of 5 persons in Canada and 15 in Indonesia.

NEW ACCOUNTING PRONOUNCEMENTS

In January 2003,  the  Financial  Accounting  Standards  Board  ("FASB")  issued
Financial  Interpretation  No. 46 "Consolidation of Variable Interest  Entities"
("FIN 46") (revised on December 17, 2003). The objective of FIN 46 is to improve
financial  reporting by companies  involved with variable interest  entities.  A
variable  interest  entity is a corporation,  partnership,  trust,  or any other
legal structure used for business  purposes that either (a) does not have equity
investors  with voting  rights or (b) has equity  investors  that do not provide
sufficient financial resources for the entity to support its activities.  FIN 46
requires  a variable  interest  entity to be  consolidated  by a company if that
company is subject to a majority of the risk of loss from the variable  interest
entity's  activities or entitled to receive a majority of the entity's  residual
returns  or both.  FIN 46 also  requires  disclosures  about  variable  interest
entities  that a company is not  required to  consolidate  but in which it has a
significant  variable interest.  The consolidation  requirements of FIN 46 apply
immediately to variable  interest  entities created after December 15, 2003. The
consolidation  requirements  apply to older entities in the first fiscal year or
interim period beginning after March 15, 2004.

In December 2004, FASB issued  Statement of Financial  Accounting  Standards No.
153,  "Exchanges  of  Non-monetary  Assets - an amendment of APB Opinion No. 29"
("SFAS  153")  which  amends   Accounting   Principles  Board  Opinion  No.  29,
"Accounting  for  Non-monetary  Transactions"  to eliminate  the  exception  for
non-monetary  exchanges  of similar  productive  assets and  replaces  it with a
general  exception  for  exchanges  of  non-monetary  assets  that  do not  have
commercial  substance.  A non-monetary  exchange has commercial substance if the
future cash flows of the entity are expected to change significantly as a result
of the  exchange.  SFAS  153  is  effective  for  non-monetary  asset  exchanges
occurring in fiscal periods beginning after June 15, 2005.

In December 2004, FASB issued  Statement of Financial  Accounting  Standards No.
123R,  "Share Based Payment"  ("SFAS  123R").  SFAS 123R  supersedes  Accounting
Principles  Board  Opinion No. 25,  "Accounting  for Stock Issued to  Employees"
("APB 25") and its  related  implementation  guidance by  requiring  entities to
recognize  the cost of employee  services  received  in  exchange  for awards of
equity  instruments  based on the  grant-date  fair value of those  awards (with
limited exceptions) and revises Statement of Financial  Accounting Standards No.
123 "Accounting for Stock-Based Compensation" ("SFAS 123") as follows:

Public  entities  are required to measure  liabilities  incurred to employees in
share-based payment transactions at fair value and non-public entities may elect
to measure  their  liabilities  to  employees  incurred in  share-based  payment
transactions  at their  intrinsic  value whereas under SFAS 123, all share-based
payment liabilities were measured at their intrinsic value.  Non-public entities
are required to calculate fair value using an appropriate  industry sector index
for the  expected  volatility  of its share  price if it is not  practicable  to
estimate the expected volatility of the entity's share price.

                                      -17-

<PAGE>

Entities  are  required  to  estimate  the number of  instruments  for which the
requisite  service is  expected  to be  rendered  as opposed to  accounting  for
forfeitures as they occur.  Incremental  compensation cost for a modification of
the terms or  conditions  of an award is measured by comparing the fair value of
the  modified  award  with the fair  value of the award  immediately  before the
modification  whereas SFAS 123 required  that the effects of a  modification  be
measured as the  difference  between the fair value of the modified award at the
date it is granted and the award's  value  immediately  before the  modification
determined  based  on the  shorter  of (1)  its  remaining  initially  estimated
expected life or (2) the expected life of the modified award.

SFAS 123R also  clarifies  and  expands  guidance  in several  areas,  including
measuring  fair  value,  classifying  an award as equity or as a  liability  and
attributing  compensation cost to reporting  periods.  SFAS 123R does not change
the accounting guidance for share-based payment  transactions with parties other
than  employees  provided in SFAS 123 as originally  issued and Emerging  Issues
Task Force No. 96-18 "Accounting for Equity Instruments that are Issued to Other
Than Employees for Acquiring or in Conjunction with Selling, Goods and Services"
("EITF  96-18").  SFAS 123R also does not address the  accounting  for  employee
share  ownership  plans  which  are  subject  to  Statement  of  Position  93-6,
"Employers'  Accounting for Employee Stock  Ownership  Plans".  Public  entities
(other than those filing as small  business  issuers)  will be required to apply
SFAS 123R as of the first  annual  reporting  period that begins  after June 15,
2005.  Public  entities that file as small business  issuers will be required to
apply SFAS 123R in the first annual  reporting period that begins after December
15, 2005. For nonpublic entities,  SFAS 123R must be applied as of the beginning
of the first annual reporting period beginning after December 15, 2005.

The  adoption of these new  pronouncements  are not  expected to have a material
effect on our financial position or results of operations.


                                      -18-


<PAGE>


                                     ITEM 7.

FINANCIAL STATEMENTS.

Our  financial  statements  are stated in United  States  Dollars  (US$) and are
prepared  in  conformity  with  United  States  Generally  Accepted   Accounting
Principles.




                             WORLDSTAR ENERGY, CORP.
                          (FORMERLY AUTEO MEDIA, INC.)
                          (A DEVELOPMENT STAGE COMPANY)


                              FINANCIAL STATEMENTS


                           DECEMBER 31, 2004 AND 2003






                                      F-1

<PAGE>

DONAN AND COMPANY                               7700 North Kendall Drive, 200
CERTIFIED PUBLIC ACCOUNTANTS                    Miami, Florida  33156-7578
       A Professional Association               Telephone: (305) 274-1366
                                                Facsimile  (305) 274-1368
                                                E-Mail     info@uscpa.com
                                                Internet   www.uscpa.com



             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors and Stockholders
WorldStar Energy Corp. formerly Auteo Media, Inc.
(A Development Stage Company)
Burnaby, British Columbia, CANADA

We have  audited  the  accompanying  balance  sheet of  WorldStar  Energy  Corp.
formerly  Auteo Media,  Inc. (A  Development  Stage  Company) as of December 31,
2004, and the related  statements of operations,  cash flows and  (deficiency in
assets)  stockholders'  equity  for  the  year  ended  December  31,  2004,  and
cumulative from January 1, 2004 (new business start) to December 31, 2004. These
financial  statements are the  responsibility of the Company's  management.  Our
responsibility  is to express an opinion on these financial  statements based on
our audit.

We conducted  our audit in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements  are free of material  misstatement.  The Company is not  required to
have,  nor were we engaged to perform,  an audit of its  internal  control  over
financial reporting.  Our audit included  consideration of internal control over
financial  reporting  as  a  basis  for  designing  audit  procedures  that  are
appropriate  in the  circumstances,  but not for the  purpose of  expressing  an
opinion on the  effectiveness  of the Company's  internal control over financial
reporting.  Accordingly,  we express  no such  opinion.  An audit also  includes
examining,  on a test basis,  evidence supporting the amounts and disclosures in
the  financial  statements.  An audit also  includes  assessing  the  accounting
principles  used  and  significant  estimates  made  by  management,  as well as
evaluating the overall  financial  statement  presentation.  We believe that our
audit provides a reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects, the financial position of WorldStar Energy Corp. formerly
Auteo Media, Inc. (A Development Stage Company) as of December 31, 2004, and the
results  of their  operations  and their  cash  flows for the year then ended in
conformity with U.S. generally accepted accounting principles.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 1 to the
financial statements,  the Company is a development stage company, has continued
to incur operating losses, has used, rather than provided,  cash from operations
and has an accumulated  deficit of $496,123.  These factors,  and others,  raise
substantial  doubt about the Company's  ability to continue as a going  concern.
The ability of the Company to continue  operations  is subject to its ability to
secure  additional  capital  to meet  its  obligations  and to fund  operations.
Management's  plans in regard to these  matters are also  described in Note 1 to
the  financial   statements.   The  financial  statements  do  not  include  any
adjustments that might result from the outcome of this uncertainty.

                                         /s/ Dohan and Company, CPA's, P;A;

April 8, 2005
Miami, Florida





[CPA MEMBER LOGO GOES HERE]                     [ACCOUNTING GROUP INTERNATIONAL
                                                 LOGO GOES HERE]

                                      F-2
<PAGE>

                              [KLT LOGO GOES HERE]
                                 KYLE L. TINGLE
                          PERSONAL FINANCIAL PLANNING
                        BUSINESS SERVICES & TAX PLANNING

            REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors
Auteo Media, Inc.

I have  audited  the  accompanying  balance  sheet of Auteo  Media,  Inc.  as of
December  31,  2003  and  2002  and  the  related   statements  of   operations,
stockholders'  equity,  and cash flows for the years then ended. These financial
statements are the responsibility of the Company's management. My responsibility
is to express and opinion on these financial statements based on my audit.

I conducted my audit in accordance with auditing standards generally accepted in
the United States of America.  Those  standards  require that I plan and perform
the audit to obtain reasonable  assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.  An
audit also includes  assessing the accounting  principles  used and  significant
estimates  made by  management,  as well as  evaluating  the  overall  financial
statement presentation.  I believe that my audit provides a reasonable basis for
my opinion.

In my opinion,  the financial  statements  referred to above present fairly, in
all  material  respects,  the  financial  position  of Auteo  Media,  Inc. as of
December 31, 2003 and 2002 and the results of its  operations and cash flows for
the years  then  ended,  in  conformity  with  accounting  principles  generally
accepted in the United States of America.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 1 to the
financial statements,  the Company has limited continuing operations without an
established  source of revenue.  This raises substantial doubt about its ability
to continue as a going concern.  Management's plan in regard to these matters is
also  described  in  Note  1.  The  financial  statements  do  not  include  any
adjustments that might result from the outcome of this uncertainty.

/s/ KYLE L. TINGLE

Kyle L. Tingle, CPA, LLC
Las Vegas, Nevada

May 9, 2004, except for Note 8
and Note 10 as to which the date
is August 25, 2004



P.O. Box 50329 HENDERSON, NEVADA 89016 PHONE: (702) 450-2200 FAX: (702) 436-4218
                       E-MAIL: ktingel@kyletinglecpa.com

                                      F-3
<PAGE>
<TABLE>
<CAPTION>


WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development Stage Company)
BALANCE SHEETS
AS AT DECEMBER 31

===========================================================================================================================

                                                                                                      2004            2003
---------------------------------------------------------------------------------------------------------------------------

ASSETS

<S>                                                                                          <C>            <C>
CURRENT ASSETS
    Cash and cash equivalents                                                                $       2,100  $           8
    Note receivable (Note 3)                                                                            -          50,000
    Note receivable, related party (Note 3)                                                             -          34,821
    Interest receivable (Note 3)                                                                        -           5,303
    Refundable deposits (Note 4)                                                                        -          52,375
                                                                                             -------------  -------------

Total current assets                                                                                 2,100        142,507

DEFERRED ACQUISITION COSTS (Note 5)                                                                 94,786             -
                                                                                             -------------  -------------

TOTAL ASSETS                                                                                 $      96,886  $     142,507
===========================================================================================================================



LIABILITIES AND (DEFICIENCY IN ASSETS) STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
    Accounts payable and accrued liabilities                                                 $     108,913  $      15,756
    Due to related parties (Note 7)                                                                 44,901         49,297
                                                                                             -------------  -------------

Total current liabilities                                                                          153,814         65,053
                                                                                             -------------  -------------

(DEFICIENCY IN ASSETS ) STOCKHOLDERS' EQUITY
    Capital stock (Note 6)
       Authorized - 100,000,000 common shares
       Issued - 177,084 common share, par value $0.001                                                 177            177
    Additional paid-in capital                                                                     433,809        433,809
    Accumulated other comprehensive income                                                           5,209          5,209
    Deficit                                                                                       (361,741)      (361,741)
    Deficit accumulated during the development stage                                              (134,382)            -
                                                                                             -------------  -------------

Total (deficiency in assets)  stockholders' equity                                                 (56,928)        77,454
                                                                                             -------------  -------------

TOTAL LIABILITIES AND (DEFICIENCY IN ASSETS) STOCKHOLDERS' EQUITY                            $      96,886  $     142,507
===========================================================================================================================

</TABLE>


                 The accompanying notes are an integral part of
                          these financial statements.


                                      F-4

<PAGE>
<TABLE>
<CAPTION>


WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development Stage Company)
STATEMENTS OF OPERATIONS

=============================================================================================================================

                                                                                                                  Cumulative
                                                                                                                    from new
                                                                                                              business start
                                                                                                                 (January 1,
                                                                                Year Ended       Year Ended         2004) to
                                                                              December 31,     December 31,     December 31,
                                                                                      2004             2003             2004
-----------------------------------------------------------------------------------------------------------------------------



<S>                                                                        <C>              <C>              <C>
EXPENSES
    Amortization                                                           $            -   $           701  $            -
    Consulting and management fees (Note 7)                                         25,175           45,000           25,175
    Foreign exchange loss                                                            3,275               -             3,275
    Investor relations                                                                  -             1,752               -
    Office and administration                                                        2,207            1,999            2,207
    Professional fees                                                               42,625           22,332           42,625
    Rent                                                                             7,500           30,000            7,500
    Transfer agent and filing fees                                                   3,385               -             3,385
    Travel and related                                                                  -             4,346               -
    Write-off of refundable deposits (Note 4)                                       52,375               -            52,375
                                                                           ---------------  ---------------  ---------------


LOSS BEFORE OTHER ITEM                                                            (136,542)        (106,130)        (136,542)

OTHER ITEM
    Interest income                                                                  2,160            3,948            2,160
                                                                           ---------------  ---------------  ---------------

LOSS BEFORE INCOME TAXES                                                          (134,382)        (102,182)        (134,382)

PROVISION FOR INCOME TAXES                                                              -                -                -
                                                                           ---------------  ---------------  --------------

NET LOSS                                                                   $      (134,382) $      (102,182) $      (134,382)
=============================================================================================================================

COMPREHENSIVE LOSS
    Net loss                                                               $      (134,382) $      (102,182) $      (134,382)
    Other comprehensive income:
        Foreign currency translation adjustment                                         -             5,209               -
                                                                           ---------------  ---------------  --------------

COMPREHENSIVE LOSS                                                         $      (134,382) $       (96,973) $      (134,382)
=============================================================================================================================

BASIC AND DILUTED NET LOSS PER COMMON SHARE                                $        (0.76)  $        (0.72)
=============================================================================================================================


BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING             177,084          142,376
=============================================================================================================================
</TABLE>


                 The accompanying notes are an integral part of
                          these financial statements.


                                      F-5

<PAGE>
<TABLE>
<CAPTION>


WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development Stage Company)
STATEMENTS OF (DEFICIENCY IN ASSETS) STOCKHOLDERS' EQUITY

=============================================================================================================================

                             Common Stock
                     -----------------------------
                                                                                                       Deficit
                                                                     Accumulated                   Accumulated
                             Number                    Additional          Other                    During the
                          of Shares                       Paid-in  Comprehensive                   Development
                            Issued         Amount        Capital         Income        Deficit          Stage          Total
-------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------

<S>                        <C>      <C>            <C>            <C>            <C>            <C>            <C>
Balance at
  December 31,
    2002                   116,708  $         117  $     394,619  $          -   $    (259,559) $          -   $     135,177
Shares issued for
debt
  settlement at $0.75       26,667             27         19,973             -              -              -          20,000
Shares issued for
debt
  settlement at $0.60        6,667              6          3,994             -              -              -           4,000
Shares issued for
debt
  settlement at $0.45       16,667             17          7,483             -              -              -           7,500
Shares issued for
debt
  settlement at $0.75        5,333              5          3,995             -              -              -           4,000
Shares issued for
debt
  settlement at $0.75        5,000              5          3,745             -              -              -           3,750
Reverse split 15:1,
  fractional shares             42                 -          -              -              -              -              -
Net loss                        -              -              -              -        (102,182)            -        (102,182)
Foreign currency
  translation
  adjustment                    -              -              -           5,209             -              -         5,209
                     -------------  -------------  -------------  -------------  -------------  -------------  -----------

Balance at
  December 31,
  2003                     177,084            177        433,809          5,209       (361,741)            -          77,454

Net loss                        -              -              -              -              -        (134,382)      (134,382)
                     -------------  -------------  -------------  -------------  -------------  -------------  -------------

Balance at
  December 31,
  2004                     177,084  $         177  $     433,809  $       5,209  $    (361,741) $    (134,382) $     (56,928)
============================================================================================================================
</TABLE>


                 The accompanying notes are an integral part of
                          these financial statements.

                                      F-6

<PAGE>
<TABLE>
<CAPTION>


WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development Stage Company)
STATEMENTS OF CASH FLOWS

=============================================================================================================================

                                                                                                                  Cumulative
                                                                                                                    from new
                                                                                                              business start
                                                                                                                 (January 1,
                                                                                Year Ended       Year Ended         2004) to
                                                                              December 31,     December 31,     December 31,
                                                                                      2004             2003             2004
-------------------------------------------------------------------------- ---------------- ---------------- ----------------



<S>                                                                        <C>              <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES
    Net loss                                                               $      (134,382) $      (102,182) $      (134,382)
    Adjustments  to  reconcile  net  loss to net cash  used in  operating
activities:
       Amortization                                                                     -               701               -
       Accrued interest on note receivable                                          (2,160)              -            (2,160)
       Common stock issued for services                                                 -            31,500               -
       Foreign exchange loss                                                         3,275               -             3,275
       Write-off of refundable deposit                                              52,375               -            52,375
       Expenses accrued by related party                                            22,500               -            22,500
    Changes in assets and liabilities:
       Increase in interest receivable                                                  -            (3,948)              -
       Increase in accounts payable and accrued liabilities                         50,017           10,331           50,017
                                                                           ---------------  ---------------  ---------------

    Net cash used in operating activities                                           (8,375)         (63,598)          (8,375)
                                                                           ---------------  ---------------  ----------------

CASH FLOWS FROM INVESTING ACTIVITIES
    Proceeds from sale of securities                                                    -            10,000               -
                                                                           ---------------  ---------------  --------------

    Net cash used in investing activities                                               -            10,000               -
                                                                           ---------------  ---------------  --------------

CASH FLOWS FROM FINANCING ACTIVITIES
    Issuance of common stock                                                            -             7,750               -
    Advances from related parties                                                   10,467           45,508           10,467
                                                                           ---------------  ---------------  ---------------

    Net cash provided by financing activities                                       10,467           53,258           10,467
                                                                           ---------------  ---------------  ---------------

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                     2,092             (340)           2,092

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR                                             8              348                8
                                                                           ---------------  ---------------  ---------------

CASH AND CASH EQUIVALENTS, END OF YEAR                                     $         2,100  $             8  $         2,100
=============================================================================================================================

CASH PAID FOR INCOME TAXES                                                 $            -   $            -   $            -
CASH PAID FOR INTEREST                                                     $            -   $            31  $            -
=============================================================================================================================

SETTLEMENT OF RELATED PARTY DEBT IN EXCHANGE FOR THE ASSIGNMENT OF
    NOTES RECEIVABLE AND RELATED ACCRUED INTEREST RECEIVABLE               $        59,764  $            -   $        59,764
DEFERRED ACQUISITION COSTS INCLUDED IN ACCOUNTS PAYABLE                    $        94,786  $            -   $        94,786
NOTES RECEIVABLE SETTLED FOR ACCOUNTS PAYABLE                              $        29,245  $            -   $        29,245
ACCOUNTS PAYABLE PAID BY RELATED PARTIES                                   $        22,401  $          -     $        22,401
COMMON STOCK ISSUED IN SETTLEMENT OF RELATED PARTY DEBT                    $            -   $        20,000  $            -
COMMON STOCK ISSUED IN SETTLEMENT OF OTHER LIABILITIES                     $            -   $        19,250  $            -
=============================================================================================================================
</TABLE>

                 The accompanying notes are an integral part of
                          these financial statements.

                                      F-7
<PAGE>


WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development Stage Company)
NOTES TO THE FINANCIAL  STATEMENTS
DECEMBER 31, 2004 and 2003

================================================================================


NOTE 1.      NATURE AND CONTINUANCE OF OPERATIONS

BACKGROUND

WorldStar  Energy,  Corp.  (the  "Company")  (formerly  Auteo  Media,  Inc.) was
incorporated  in the State of Nevada on  November  8, 1996,  and  operated as an
online and point-of-purchase  automotive communications and commerce company and
operated  under the trade  name  "Dealer  Specialties".  On April 1,  2005,  the
Company  changed its name from Auteo Media,  Inc. On July 15, 2002,  the Company
sold  assets,  including  those  associated  with data  collection  and labeling
through its Dealers Specialties franchise,  to Trader Labeling,  LLC. Commencing
January 1, 2004, the Company was considered to be in the development stage.

ACTIVITIES

The Company's  current  operating  activities are its business  development  and
consulting  practices,  particularly in mergers and acquisitions,  however,  the
Company has not generated any revenues in the past two fiscal years. The Company
is pursuing new  business  opportunities  and has entered into a share  exchange
agreement (Note 11).

GOING CONCERN

The Company incurred net losses of $134,382 and $102,182 from operations for the
years ended  December 31, 2004 and 2003,  respectively.  Currently,  the Company
does  not  have  significant  cash or other  material  assets,  nor does it have
operations or a source of revenue sufficient to cover its operating costs. These
facts raise  substantial doubt about its ability to continue as a going concern.
The Company's director has committed to financing operating costs of the Company
as required through debt and/or equity financing.

Management  does not believe that it will be able to generate  revenues  without
finding and completing an acquisition of a suitable  business  opportunity.  The
ability of the Company to continue as a going  concern is  dependent on securing
funding or from the  acquisition  of a  business  opportunity  (Note 11).  These
financial  statements do not include any adjustments  that might be necessary if
the Company is unable to continue as a going concern.


NOTE 2.      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

These  financial  statements  have been  prepared in conformity  with  generally
accepted accounting  principles in the United States of America. The significant
accounting policies adopted by the Company are as follows:

USE OF ESTIMATES

The preparation of financial  statements in conformity  with generally  accepted
accounting  principles  in the United States of America  requires  management to
make estimates and  assumptions  that affect the reported  amounts of assets and
liabilities  and disclosure of contingent  assets and liabilities at the date of
the  financial  statements  and the  reported  amounts of revenues  and expenses
during the reporting period. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS

The Company considers cash held at banks and all highly liquid  investments with
original maturities of three months or less to be cash and cash equivalents.  At
December 31, 2004 and 2003, cash and cash equivalents  consisted of cash held at
banks and in trust.

                                      F-8
<PAGE>


WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2004 and 2003

================================================================================

NOTE 2.      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

DEFERRED ACQUISITION COSTS

Costs, such as legal,  accounting,  due diligence,  sponsorship and filing fees,
relating to potential business acquisitions are deferred and applied towards the
cost of the acquisition when completed. Such costs are expensed if the potential
acquisition is no longer considered viable by management.

IMPAIRMENT OF LONG-LIVED ASSETS

Long-lived assets to be held and used by the Company are continually reviewed to
determine  whether  any  events or changes in  circumstances  indicate  that the
carrying amount of the asset may not be recoverable. For long-lived assets to be
held and used, the Company bases its evaluation on such impairment indicators as
the  nature of the  assets,  the future  economic  benefit  of the  assets,  any
historical  or  future  profitability  measurements,  as well as other  external
market  conditions  or factors that may be present.  In the event that facts and
circumstances  indicate  that  the  carrying  amount  of an  asset  may  not  be
recoverable and an estimate of future  undiscounted  cash flows is less than the
carrying  amount of the asset,  an impairment  loss will be recognized.  For the
years presented,  the only long-lived  assets reported on the Company's  balance
sheet are deferred acquisition costs.

INCOME TAXES

The Company  follows the asset and  liability  method of  accounting  for income
taxes. Under this method,  current income taxes are recognized for the estimated
income taxes payable for the current period.  Deferred income taxes are provided
based on the  estimated  future tax  effects of  temporary  differences  between
financial  statement  carrying  amounts  of  assets  and  liabilities  and their
respective tax bases,  as well as the benefit of losses  available to be carried
forward to future years for tax purposes.

Deferred tax assets and  liabilities  are  measured  using the enacted tax rates
that are  expected  to apply  to  taxable  income  in the  years in which  those
temporary  differences  are expected to be recovered and settled.  The effect on
deferred tax assets and  liabilities  of a change in tax rates is  recognized in
operations in the period that includes the enactment date. A valuation allowance
is  recorded  for  deferred  tax assets when it is not more likely than not that
such future tax assets will be realized.

FOREIGN CURRENCY

Effective  January 1, 2004, the Company  adopted the United States dollar as its
functional currency. Accordingly, monetary assets and liabilities denominated in
a foreign  currency are translated at the exchange rate in effect at the balance
sheet date while  non-monetary  assets and liabilities  denominated in a foreign
currency  are  translated  at  historical  rates.   Revenue  and  expense  items
denominated in a foreign  currency are  translated at exchange rates  prevailing
when such items are recognized in the statement of operations. Exchange gains or
losses  arising on  translation  of foreign  currency  items are included in the
statement of operations.

NET LOSS PER SHARE

Basic net loss per share is computed by dividing  the net loss  attributable  to
common  stockholders by the weighted average number of common shares outstanding
during  the year.  Diluted  net loss per share is  computed  using the  weighted
average  number  of  common  shares  and   potentially   dilutive  common  stock
equivalents.  For the years presented,  the Company had no potentially  dilutive
instruments.

                                      F-9
<PAGE>


WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development  Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2004 and 2003

================================================================================

NOTE 2.      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

NEW ACCOUNTING PRONOUNCEMENTS

In January 2003,  the  Financial  Accounting  Standards  Board  ("FASB")  issued
Financial  Interpretation  No. 46 "Consolidation of Variable Interest  Entities"
("FIN 46") (revised on December 17, 2003). The objective of FIN 46 is to improve
financial  reporting by companies  involved with variable interest  entities.  A
variable  interest  entity is a corporation,  partnership,  trust,  or any other
legal structure used for business  purposes that either (a) does not have equity
investors  with voting  rights or (b) has equity  investors  that do not provide
sufficient financial resources for the entity to support its activities.  FIN 46
requires  a variable  interest  entity to be  consolidated  by a company if that
company is subject to a majority of the risk of loss from the variable  interest
entity's  activities or entitled to receive a majority of the entity's  residual
returns  or both.  FIN 46 also  requires  disclosures  about  variable  interest
entities  that a company is not  required to  consolidate  but in which it has a
significant  variable interest.  The consolidation  requirements of FIN 46 apply
immediately to variable  interest  entities created after December 15, 2003. The
consolidation  requirements  apply to older entities in the first fiscal year or
interim period beginning after March 15, 2004.

In December 2004, FASB issued  Statement of Financial  Accounting  Standards No.
153,  "Exchanges  of  Non-monetary  Assets - an amendment of APB Opinion No. 29"
("SFAS  153")  which  amends   Accounting   Principles  Board  Opinion  No.  29,
"Accounting  for  Non-monetary  Transactions"  to eliminate  the  exception  for
non-monetary  exchanges  of similar  productive  assets and  replaces  it with a
general  exception  for  exchanges  of  non-monetary  assets  that  do not  have
commercial  substance.  A non-monetary  exchange has commercial substance if the
future cash flows of the entity are expected to change significantly as a result
of the  exchange.  SFAS  153  is  effective  for  non-monetary  asset  exchanges
occurring in fiscal periods beginning after June 15, 2005.

In December 2004, FASB issued  Statement of Financial  Accounting  Standards No.
123R,  "Share Based Payment"  ("SFAS  123R").  SFAS 123R  supersedes  Accounting
Principles Board Opinion No. 25,  "Accounting for Stock Issued to Employees" and
its related implementation  guidance by requiring entities to recognize the cost
of employee services received in exchange for awards of equity instruments based
on the  grant-date  fair value of those awards  (with  limited  exceptions)  and
revises  Statement of Financial  Accounting  Standards No. 123  "Accounting  for
Stock-Based Compensation" ("SFAS 123") as follows:
i)       Public  entities  are  required  to  measure  liabilities  incurred  to
         employees  in  share-based  payment  transactions  at  fair  value  and
         nonpublic  entities may elect to measure their liabilities to employees
         incurred in share-based  payment  transactions at their intrinsic value
         whereas  under  SFAS 123,  all  share-based  payment  liabilities  were
         measured at their intrinsic value.
ii)      Nonpublic  entities  are  required  to  calculate  fair value  using an
         appropriate  industry  sector index for the expected  volatility of its
         share  price  if  it  is  not  practicable  to  estimate  the  expected
         volatility of the entity's share price.
iii)     Entities are required to estimate the number of  instruments  for which
         the  requisite  service  is  expected  to be  rendered  as  opposed  to
         accounting for forfeitures as they occur.
iv)      Incremental  compensation  cost  for a  modification  of the  terms  or
         conditions  of an award is measured by comparing  the fair value of the
         modified award with the fair value of the award immediately  before the
         modification   whereas  SFAS  123  required   that  the  effects  of  a
         modification  be measured as the  difference  between the fair value of
         the  modified  award at the date it is granted  and the  award's  value
         immediately before the modification  determined based on the shorter of
         (1) its remaining initially estimated expected life or (2) the expected
         life of the modified award.

                                      F-10
<PAGE>


WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2004 and 2003

================================================================================

NOTE 2.      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

NEW ACCOUNTING PRONOUNCEMENTS (CONTINUED)

SFAS 123R also  clarifies  and  expands  guidance  in several  areas,  including
measuring  fair  value,  classifying  an award as equity or as a  liability  and
attributing  compensation cost to reporting  periods.  SFAS 123R does not change
the accounting guidance for share-based payment  transactions with parties other
than  employees  provided in SFAS 123 as originally  issued and Emerging  Issues
Task Force No. 96-18 "Accounting for Equity Instruments that are Issued to Other
Than Employees for Acquiring or in Conjunction with Selling, Goods and Services"
SFAS 123R also does not address the  accounting  for  employee  share  ownership
plans which are subject to Statement of Position  93-6,  "Employers'  Accounting
for Employee Stock Ownership Plans". Public entities (other than those filing as
small  business  issuers)  will be  required  to apply SFAS 123R as of the first
annual  reporting  period that begins after June 15, 2005.  Public entities that
file as small business  issuers will be required to apply SFAS 123R in the first
annual  reporting  period that begins after  December 15,  2005.  For  nonpublic
entities,  SFAS 123R must be applied  as of the  beginning  of the first  annual
reporting period beginning after December 15, 2005.

The  adoption  of these new  pronouncements  is not  expected to have a material
effect on the Company's financial position or results of operations.

NOTE 3.      NOTES RECEIVABLE

<TABLE>
<CAPTION>

Notes receivable consists of the following:
                                                                            2004                 2003
                                                                ----------------       --------------
<S>                                                             <C>                    <C>
              Note receivable, secured by real estate, 5%
              interest, due on demand from a director,
              initially at $45,000 Canadian                     $             -        $       34,821

              Note receivable, unsecured, 5% interest,
              due on demand                                                   -        $       50,000
                                                                ----------------       --------------

              Total notes receivable, secured and unsecured     $             -        $      $84,821
                                                                ================       ==============

</TABLE>

 On June 1, 2004, the counter party of the unsecured note  receivable,  who is a
 consultant to the Company and a director of WorldStar  Energy Corp.  (Note 11),
 assumed the secured note receivable.  On June 15, 2004, this counter party, who
 at that  date  was  responsible  for  the  total  amount  of  notes  receivable
 outstanding including related interest, assumed an amount of $59,764 owing to a
 former director of the Company pursuant to an assignment agreement. Immediately
 thereafter,  this counter  party settled notes  receivable,  including  related
 interest,  of $59,764 in exchange for the $59,764  previously  owed to a former
 director of the Company.  The remaining notes receivable  balance was exchanged
 for  certain  expenses  paid by the  counter  party on behalf  of the  Company,
 included in accounts payable, in the amount of $29,245.


NOTE 4.      REFUNDABLE DEPOSITS

The Company had deposited  funds with an advisory  group in  contemplation  of a
business acquisition.  The monies were refundable until such time that the group
sourced a completed merger transaction.  The Company subsequently entered into a
separate transaction (Note 11), and has written-off this balance.

                                      F-11
<PAGE>


WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2004 and 2003

================================================================================

NOTE 5.      DEFERRED ACQUISITION COSTS

During  the  year  ended  December  31,  2004,  the  Company  incurred  costs in
connection  with  the  investigation  of  a  methanol   development  project  in
Indonesia.  Those costs  included fees paid to a consulting  engineer,  together
with fees accrued to a third party  consultant for preliminary  project planning
services.  These expenditures relate directly to the share exchange  transaction
(Note 11), and  therefore,  the Company has deferred  these costs as of December
31,  2004,  and will  record them as part of the cost of that  transaction  upon
closing. If the transaction is not completed, these costs will be written-off to
operations.

NOTE 6.      CAPITAL STOCK

The  authorized  common  stock of the  Company  consists of  100,000,000  shares
(previously  25,000,000  shares)  with a par  value  of  $0.001,  following  the
approval  by  shareholders  of  an  Amendment  to  the  Company's   Articles  of
Incorporation effective April 1, 2005.

On March 4, 2004,  the State of Nevada  approved the Company's plan of a reverse
split of its common stock  whereby one share was issued for each fifteen  shares
of the outstanding shares. At that date, the number of common shares outstanding
decreased from  2,655,612 to 177,084.  All share and per share amounts have been
restated to reflect the stock split and the increase in the Company's authorized
capital referred to above.

NOTE 7.    RELATED PARTY TRANSACTIONS

For the year ended December 31, 2004, the Company paid or accrued  $22,500 (2003
- $Nil) in  management  fees to a director.  Amounts due to related  parties are
owed to a director, are unsecured and have no specific terms of repayment.

The former  officer and director of the Company was  compensated  $2,675 (2003 -
$45,000) for consulting and management fees and $7,500 (2003 - $30,000) for rent
relating to office  space for the  Company.  The  agreement  was  terminated  in
December 2003.

A relative  of the former  officer  and  director  had  advanced  funds to cover
operating expenses of the Company.  Funds advanced as of December 31, 2003, were
$39,261.  All amounts owing to the Company's former related parties were settled
during the year ended December 31, 2004 (Note 3).

NOTE 8.      INCOME TAXES

The income tax provision reconciled to the tax computed at the statutory federal
rate is approximately as follows for the years ended December 31:

<TABLE>
<CAPTION>
                                                                            2004                 2003
                                                              ------------------    -----------------
<S>                                                           <C>                   <C>
              Expected tax benefit at statutory rate          $        (45,700)     $        (35,000)
              Unrecognized benefit of operating
                 loss carry-forwards                                    45,700      $          35,000
                                                              ------------------    -----------------

                                                              $               -     $               -
                                                              ==================    =================
</TABLE>

                                      F-12
<PAGE>


WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2004 and 2003

================================================================================

NOTE 8.      INCOME TAXES (CONTINUED)

The  components  of deferred tax assets and  liabilities  are  approximately  as
follows at December 31:

<TABLE>
<CAPTION>

                                                                            2004                 2003
                                                              ------------------    -----------------
<S>                                                           <C>                   <C>
     Deferred tax asset:
              Income tax benefit
                 of operating loss carry-forwards             $         102,000     $          95,733
              Equipment                                                       -                 (160)
      Valuation allowance                                              (102,000)    $        (95,573)
                                                              ------------------    -----------------

      Net deferred tax asset                                  $               -     $               -
                                                              ==================    =================

</TABLE>

At December  31, 2004,  the Company had a net  operating  loss carry  forward of
approximately  $300,000.  This loss may be  carried  forward  to offset  federal
income taxes in various future years through year 2024.  During the year,  there
was a significant  ownership  change in the Company as defined in Section 382 of
the Internal Revenue Code. As a result of these changes,  the Company's  ability
to  utilize  net  operating  losses  available  before the  ownership  change is
restricted to a percentage of the market value of the Company at the time of the
ownership change. Therefore, substantial net operating loss carry forwards will,
in all likelihood, be reduced or eliminated in future years due to the change in
ownership.

The Company has provided a valuation  allowance  against its deferred tax assets
given that it is in the  development  stage and it is more  likely than not that
these benefits will not be realized.

NOTE 9.      SEGMENT INFORMATION

The Company  operates in one reportable  segment,  being the  identification  of
suitable  business  opportunities.  The Company  entered  into an  agreement  on
January 26,  2005,  (Note 11) to merge with a company  operating in the resource
sector in Indonesia.

NOTE 10.     FINANCIAL INSTRUMENTS

The Company's financial instruments consist of cash and cash equivalents,  notes
receivable,  interest  receivable,  refundable  deposits,  accounts  payable and
accrued  liabilities and due to related  parties.  Unless otherwise noted, it is
management's  opinion that the Company is not exposed to  significant  interest,
currency or credit risks  arising  from these  financial  instruments.  The fair
value of these financial instruments  approximates their carrying values, unless
otherwise noted.

NOTE 11.     SUBSEQUENT EVENT

On January 26,  2005,  the Company  entered into a share  exchange  agreement to
acquire 100% of the outstanding shares of WorldStar Energy Corp.  ("WorldStar"),
a private  Canadian  company,  in exchange  for the issuance  31,000,000  common
shares of the Company.

WorldStar's 80%-owned subsidiary, PT MubaStar International ("MubaStar"),  is an
Indonesian  company which intends to develop an energy  (methanol) joint venture
project in Indonesia.  The share  exchange  agreement  provides  that  WorldStar
arrange for,  among other things,  the required  construction  and other project
financing.

The business combination is subject to the Company, at its option,  completing a
feasibility study, obtaining construction and other financing for the project to
be arranged by WorldStar,  and will require shareholder approval to increase the
authorized

                                      F-13
<PAGE>



WORLDSTAR ENERGY, CORP.
(Formerly Auteo Media, Inc.)
(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2004 and 2003

================================================================================

NOTE 11.     SUBSEQUENT EVENT (CONTINUED)


capital stock of the Company to 100,000,000 shares and to change the name of the
Company to a name related to the  Company's  business  operations.  The business
combination  may also be subject  to the  approval  of the  members of the joint
venture, pursuant to the terms and conditions of the joint venture agreements.

The transaction, upon closing, will result in a change of control of the Company
and will be treated as a recapitalization.



                                      F-14



<PAGE>


                                     ITEM 8.

CHANGES IN AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING  AND  FINANCIAL
DISCLOSURE.

On  February  28,  2005,  the Board of  Directors  of the Company  approved  the
appointment of Dohan and Company,  CPA's, P.A. ("Dohan") of Miami,  Florida,  as
our new independent auditors effective that date, and the termination of Kyle L.
Tingle,  CPA, LLC ("Tinlgle") as the principal  accountant  engaged to audit the
Company's  financial   statements.   The  change  in  the  Company's  certifying
accountant  was  due  to  the  Company  requiring  a  United  States  registered
accountant  needed to audit our  financial  statements.  During  the year  ended
December 31, 2002,  and from the date of  appointment of Tingle as the Company's
independent accountant on October 24, 2002, and through the date of this report,
(i) there  were no  "reportable  events,"  as defined  in Item  304(a)(1)(v)  of
Regulation  S-K,  and (ii) we did not,  and nobody on our behalf has,  consulted
Dohan  regarding any of the accounting and auditing  matters or events set forth
in Item 304(a)(2)(i) or (ii) of Regulation S-K.
The report of Tingle on our financial statements for the year ended December 31,
2003,  did not contain an adverse  opinion or  disclaimer  of opinion nor was it
qualified or modified as to uncertainty,  audit scope or accounting  principles,
except that the report contained an explanatory  paragraph regarding our ability
to  continue  as a going  concern.  The  change of Tingle  was  effective  as of
February 28,  2005,  and was  approved by our  director,  and was not due to any
disagreement between us and Tingle.
During the year ended  December 31, 2002,  and from the date of  appointment  of
Tingle as the  Company's  independent  accountant  on October 24, 2002,  and the
subsequent  interim  periods  preceding  Tingle's   dismissal,   there  were  no
disagreements  with Tingle on any matter of accounting  principles or practices,
financial   statement   disclosure,   or  auditing  scope  or  procedure   which
disagreements,  if not  resolved to the  satisfaction  of  Tingle's,  would have
caused Tingle to make  reference to the subject  matter of the  disagreement  in
connection with its report.  We have  authorized  Tingle to respond fully to any
subject  matter  with  respect  to our  financial  statements.  We have not been
advised by Tingle of any of the following:

a) lack  of  internal  controls  necessary  for us to develop reliable financial
statements;
b) any information that has come to the attention of our independent accountants
that has lead them to no longer rely on management's representations or that has
made them unwilling to be associated with the financial  statements  prepared by
management;
c) any need to expand significantly the scope of their audit or information that
has come to their  attention  during the fiscal years prior to and preceding the
change in independent accountants that, if further investigated, would:
(i)  materially  impact the fairness or  reliability  of the  previously  issued
independent  accountants' report or the financial  statements issued or covering
such period;  or (ii) cause Tingle to become  unwilling to rely on  management's
representations  or that has  made  them  unwilling  to be  associated  with our
financial  statements,  or due to the  dismissal of Tingle or any other  reason,
Tingle  did not so  expand  the  scope of the  audit  or  conduct  such  further
investigation; or
d) any  information  that has come to the attention of Tingle that has lead them
to conclude that such information materially impacts the fairness or reliability
of the audit reports or the financial  statements issued covering the two fiscal
years  prior  to  and  preceding  the  change  in  the  independent  accountants
(including  information  that,  unless  resolved,  to the  satisfaction  of such
independent  accountant,  would prevent it from rendering an  unqualified  audit
report on those financial statements ) and due to the dismissal of Tingle or any
other reason,  any issue has not been resolved to such  independent  accountants
satisfaction prior to the dismissal of Tingle.

                                      -19-

<PAGE>


                                    ITEM 8A.

CONTROLS AND PROCEDURES.

Disclosure  controls and procedures are controls and other  procedures  that are
designed to ensure that information  required to be disclosed in Company reports
filed or submitted under the Exchange Act is recorded, processed, summarized and
reported,  within the time  periods  specified  in the  Securities  and Exchange
Commission's  rules and  forms.  Disclosure  controls  and  procedures  include,
without limitation,  controls and procedures designed to ensure that information
required to be  disclosed  in Company  reports  filed under the  Exchange Act is
accumulated  and  communicated  to  management,  including the  Company's  Chief
Executive  Officer and Chief Financial  Officer as appropriate,  to allow timely
decisions regarding required disclosure

EVALUATION OF DISCLOSURE ON CONTROLS AND PROCEDURES.

Based on an evaluation of our  disclosure  controls and procedures as of the end
of the period  covered by this annual  report,  our president and treasurer have
determined  that the Company's  current  disclosure  controls and procedures are
effective.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING.

There have not been any changes in the Company's internal control over financial
reporting (as such term is defined in Rule 13a-15(f)  under the Exchange Act) or
any other  factors  during the fiscal year ended  December 31,  2004,  that have
materially affected,  or are reasonably likely to materially affect our internal
control over financial reporting.

CHANGE OF AUDITORS



                                    ITEM 8B.

OTHER INFORMATION

None


                                      -20-
<PAGE>


PART III

                                     ITEM 9.

DIRECTORS,  EXECUTIVE OFFICERS,  PROMOTERS AND CONTROL PERSONS;  COMPLIANCE WITH
SECTION 16(A) OF THE EXCHANGE ACT.



DIRECTORS AND EXECUTIVE OFFICERS

All  directors of our company  hold office until the next annual  meeting of the
shareholders  or until their  successors  have been elected and  qualified.  The
officers of our company are  appointed by our board of directors and hold office
until their death, resignation or removal from office.

As at April 11, 2005 our directors and executive officers, their ages, positions
held, and duration of such, are as follows:
---------------------- -------------------------- ---------- -------------------
             NAME             POSITION HELD           AGE       DATE APPOINTED
---------------------- -------------------------- ---------- -------------------

---------------------- -------------------------- ---------- -------------------
Michael W. Kinley      President and Director          54       December, 2003
---------------------- -------------------------- ---------- -------------------


BUSINESS EXPERIENCE

The following is a brief account of the education and business experience during
at least  the  past  five  years of each  director,  executive  officer  and key
employee,  indicating the principal  occupation during that period, and the name
and  principal  business  of the  organization  in  which  such  occupation  and
employment were carried out.


DONALD BELL, FORMER PRESIDENT, CHAIRMAN, CHIEF EXECUTIVE OFFICER AND DIRECTOR

On September 5, 2002,  Mr.  Donald Bell was  appointed as Director and President
and on September 10, 2002, was appointed Secretary,  Treasurer and sole Director
of the Company.  Mr. Bell  resigned as  President on December 2, 2003,  upon the
appointment  of Michael  Kinley as President and  Director.  Mr. Bell has worked
within the investment community for the past 15 years, including positions as an
investment adviser with Pacific  International  Securities Inc. of Vancouver BC,
and as the Vice President of corporate  finance and business  development  for a
publicly traded mining and resource company.  Over the past five years, Mr. Bell
has been self-employed.

MICHAEL W.  KINLEY, PRESIDENT AND DIRECTOR

Mr.  Kinley is  currently  the  President  of Winslow  Associates  Management  &
Communications  Inc., a private business management and investor  communications
firm,  a position  he has held since  March 1993.  He is also the  President  of
Abstract  Enterprises  Corp.,  a  company  formerly  listed  on the TSX  Venture
Exchange.  In addition,  Mr. Kinley is a director of Noise Media Inc., a company
also listed on the TSX Venture  Exchange,  and was Noise Media Inc.'s  President
from  January,  2000 to March,  2001.  He was  previously  a  partner  with KPMG
Chartered  Accountants.  Mr. Kinley has also served as a director and officer of
certain  other  public  companies,   namely  StonePoint  Group  Limited,  Indico
Technologies Ltd. and Noise Media Inc.

                                      -21-

<PAGE>

COMMITTEES  OF THE BOARD We do not have an audit or  compensation  committee  at
this time.

FAMILY  RELATIONSHIPS  There  are no  family  relationships  between  any of our
directors or executive officers.

INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS
Other  than as  discussed  below,  none of our  directors,  executive  officers,
promoters or control  persons have been involved in any of the following  events
during the past five years:

         1. any  bankruptcy  petition  filed by or against any business of which
         such person was a general  partner or executive  officer  either at the
         time of the bankruptcy or within two years prior to that time;

         2. any  conviction  in a  criminal  proceeding  or being  subject  to a
         pending criminal  proceeding  (excluding  traffic  violations and other
         minor offenses);

         3. being subject to any order,  judgment,  or decree,  not subsequently
         reversed, suspended or vacated, of any court of competent jurisdiction,
         permanently or temporarily enjoining,  barring, suspending or otherwise
         limiting his involvement in any type of business, securities or banking
         activities; or

         4.  being  found  by a  court  of  competent  jurisdiction  (in a civil
         action),  the Commission or the Commodity Futures Trading Commission to
         have violated a federal or state securities or commodities law, and the
         judgment has not been reversed, suspended, or vacated.

SECTION 16(A) BENEFICIAL OWNERSHIP COMPLIANCE

Section 16(a) of the SECURITIES  EXCHANGE ACT OF 1934, as amended,  requires our
executive  officers  and  directors  and  persons  who own  more  than  10% of a
registered  class of our  equity  securities  to file  with the  Securities  and
Exchange  Commission  initial  statements  of beneficial  ownership,  reports of
changes in ownership and annual reports concerning their ownership of our common
stock and other equity securities,  on Forms 3, 4 and 5 respectively.  Executive
officers,  directors  and  greater  than 10%  shareholders  are  required by the
Securities  and  Exchange  Commission  regulations  to furnish our company  with
copies of all Section 16(a) reports they file.

To the best of our knowledge, all executive officers, directors and greater than
10% shareholders filed the required reports in a timely manner.

                                      -22-

<PAGE>

                                    ITEM 10.

EXECUTIVE COMPENSATION.

The following table summarizes the compensation  paid to our President and Chief
Executive  Officer  during  the last  three  completed  fiscal  years.  No other
officers or directors received annual  compensation in excess of $100,000 during
the last three complete fiscal years.

<TABLE>
<CAPTION>

---------------------------------------------------------------------------------- --------------------------------------------
                               Annual Compensation                                           Long Term Compensation
---------------------------------------------------------------------------------- --------------------------------------------
      Name and             Year          Salary          Bonus                     Securities
      Position                                                                     under option    Restricted
                                                                    Other Annual      / SARS        shares or       LTIP /
                                                                    Compensation      Granted         Units         Payouts
---------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
<S>                        <C>              <C>                <C>            <C>            <C>            <C>            <C>
Michael Kinley             2004             $22,500            Nil            Nil            Nil            Nil            Nil
President and
Director
---------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
                           2003                 Nil            Nil            Nil            Nil            Nil            Nil
---------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
Donald Bell,               2004              $7,500            Nil            Nil            Nil            Nil            Nil
Former      Chairman,
CEO, Secretary (1)
---------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
                           2003             $45,000            Nil            Nil            Nil            Nil            Nil
---------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
                           2002             $50,000            Nil            Nil            Nil            Nil            Nil
---------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
Steve  Van   Leeuwen,      2002                 Nil            Nil            Nil            Nil            Nil            Nil
Former     CEO    and
Chairman (2)
---------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
Ronald Clayton
Former President (3)       2002                 Nil            Nil            Nil            Nil            Nil            Nil
---------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
Kathy Van Leeuwen
Former Secretary (4)       2002                 Nil            Nil            Nil            Nil            Nil            Nil
---------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------

</TABLE>

(1) Mr. Bell was appointed our President,  Chief Executive  Officer and director
on September 5, 2002. Mr. Bell was also appointed our Secretary and Treasurer on
September  10,  2002.  Mr.  Bell  resigned  as  President  on  December 2, 2003.
Mr.Michael Kinley was appointed President and Director on December 2, 2003.

(2) Mr. Van Leeuwen  resigned as our  Chairman  and Chief  Executive  Officer on
September 10, 2002.

(3) Mr. Clayton resigned as our President on July 15, 2002.

(4) Ms. Van Leeuwen  resigned  as our  Secretary,  Controller  and a director on
September 10, 2002.

As of the  date  of  this  annual  report,  we  have  no  compensatory  plan  or
arrangement  with  respect to any  officer  that  results or will  result in the
payment of  compensation  in any form from the  resignation,  retirement  or any
other  termination of employment of such officer's  employment with our company,
from  a  change  in  control  of our  company  or a  change  in  such  officer's
responsibilities following a change in control.

EMPLOYMENT/CONSULTING AGREEMENTS

Mr. Don Bell,  director,  leases office space to the Company on a month-to-month
lease of $2,500 per month.  On September 10, 2002, Mr. Bell entered a management
agreement with the Company  agreeing to director  compensation  of up to $10,000
per month  ($3,750 per month  actually  paid or  accrued)for  his  expertise and
management of the Company,  and $2,500 in rent reimbursement  relating to office
space for the Company. The agreement was terminated in December, 2003.

Other than as  disclosed  above,  we have not  entered  into any  employment  or
consulting agreements with any of our current officers, directors or employees.

There are no  arrangements or plans in which we provide  pension,  retirement or
similar benefits for directors or executive officers,  except that our directors
and executive  officers may receive stock options at the discretion of our board
of directors.  Other than the management  agreements  discussed above, we do not

                                      -23-

<PAGE>

have any  material  bonus or profit  sharing  plans  pursuant  to which  cash or
non-cash  compensation is or may be paid to our directors or executive officers,
except  that stock  options  may be granted  at the  discretion  of our board of
directors.

STOCK OPTIONS/SAR GRANTS

There were no grants of stock options or stock  appreciation  rights made during
the fiscal year ended December 31, 2004, to our named executive officers.

There were no  aggregated  option/SAR  exercises in the year ended  December 31,
2004.

LONG-TERM INCENTIVE PLANS

All options granted under previous years Stock Option Plans/SAR's were cancelled
with sale of  substantially  all of the company assets to Trader Labeling LLC on
July 15, 2002.

There are no  arrangements or plans in which we provide  pension,  retirement or
similar benefits for directors or executive officers,  except that our directors
and executive  officers may receive stock options at the discretion of our board
of directors. We do not have any material bonus or profit sharing plans pursuant
to which cash or non-cash  compensation  is or may be paid to our  directors  or
executive  officers,  except that stock options may be granted at the discretion
of our board of directors.

We have no plans or arrangements in respect of remuneration received or that may
be received by our executive  officers to compensate  such officers in the event
of termination of employment (as a result of resignation,  retirement, change of
control) or a change of  responsibilities  following a change of control,  where
the value of such compensation exceeds $60,000 per executive officer.


DIRECTORS COMPENSATION

We reimburse our directors for expenses  incurred in connection  with  attending
board meetings but did not pay director's  fees or other cash  compensation  for
services rendered as a director in the year ended December 31, 2004.

No cash  compensation  was  paid  to any of our  directors  for  the  director's
services as a director  during the fiscal year ended  December 31, 2004. We have
no standard  arrangement  pursuant to which our  directors are  compensated  for
their services in their capacity as directors  except for the granting from time
to time of incentive  stock  options.  The board of directors  may award special
remuneration to any director  undertaking any special  services on behalf of our
company  other than  services  ordinarily  required  of a  director.  Other than
indicated  below, no director  received and/or accrued any  compensation for his
services  as  a  director,  including  committee  participation  and/or  special
assignments.

                                      -24-

<PAGE>


                                    ITEM 11.

SECURITY  OWNERSHIP OF CERTAIN  BENEFICIAL  OWNERS AND  MANAGEMENT.  AND RELATED
STOCKHOLDER MATTERS

PRINCIPAL STOCKHOLDERS

The following table sets forth, as of February 24, 2005 certain information with
respect to the  beneficial  ownership  of our common  stock by each  stockholder
known by us to be the beneficial  owner of more than 5% of our common stock,  as
well as by each of our current directors and executive officers. Each person has
sole voting and  investment  power with  respect to the shares of common  stock,
except  as  otherwise  indicated.  Beneficial  ownership  consists  of a  direct
interest in the shares of common stock, except as otherwise indicated.

-------------------------------- ------------------------ ----------------------
          NAME AND ADDRESS OF      AMOUNT AND NATURE OF     PERCENTAGE OF CLASS
            BENEFICIAL OWNER       BENEFICIAL OWNERSHIP
-------------------------------- ------------------------ ----------------------
Cede & Co                         149,135 common shares           84.22 %
-------------------------------- ------------------------ ----------------------

(1) Based on 177,084  shares of common stock issued and  outstanding as of April
1, 2005.

Except as  otherwise  indicated,  we believe that the  beneficial  owners of the
common stock listed above, based on information  furnished by such owners,  have
sole  investment  and voting  power  with  respect  to such  shares,  subject to
community property laws where applicable.  Beneficial ownership is determined in
accordance with the rules of the SEC and generally includes voting or investment
power with respect to  securities.  Shares of common stock subject to options or
warrants  currently  exercisable,  or  exercisable  within 60 days,  are  deemed
outstanding  for purposes of computing  the  percentage  ownership of the person
holding such option or warrants,  but are not deemed outstanding for purposes of
computing the percentage ownership of any other person.

                                    ITEM 12.

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

Except  as  otherwise  indicated  below,  we  have  not  been  a  party  to  any
transaction, proposed transaction, or series of transactions in which the amount
involved exceeds $60,000, and in which, to its knowledge,  any of its directors,
officers,  five  percent  beneficial  security  holder,  or  any  member  of the
immediate  family  of the  foregoing  persons  has had or will  have a direct or
indirect material interest.




                                      -25-

<PAGE>


                                    ITEM 13.

EXHIBITS AND REPORTS ON FORM 8-K.

REPORTS OF FORM 8-K

         Incorporated by reference

EXHIBITS  REQUIRED BY ITEM 601 OF REGULATION S-B EXHIBIT NUMBER AND  DESCRIPTION
(3) ARTICLES OF INCORPORATION/BYLAWS

         3.1  Articles of  Incorporation  (incorporated  by  reference  from our
         Registration Statement on Form 10-SB filed on September 3, 1999)

         3.2 Bylaws (incorporated by  reference from our Registration  Statement
         on Form 10-SB filed on September 3, 1999)

         31 and 32  Certifications  Pursuant  To 18  U.S.C.  Section  1350,  As
         Adopted  Pursuant  To  Section  906 of The Sarbanes-Oxley Act Of 2002


MATERIAL CONTRACTS

         Share Exchange Agreement incorporated by reference



                                      -26-

<PAGE>



                                    ITEM 14.

PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Audit fees consist of fees billed or accrued for professional  services rendered
for the audit of the Company's  consolidated financial statements and the review
of the  interim  statements.  The total fees billed by Kyle L.  Tingle,  CPA was
$6,000 for 2003 and for Dohan and Company, CPA's, P.A. $10,000 for 2004.




OTHER.

There  were no  audit  related  services  and no fees  billed  for  professional
services  for tax  compliance,  tax advice and tax  planning for the fiscal year
ended December 31, 2003 and December 31, 2004.

                                      -27-

<PAGE>


                                   SIGNATURES

In  accordance  with  Section 13 or 15(d) of the Exchange  Act,  the  registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.



WORLDSTAR ENERGY, CORP.
a Nevada corporation


/s/ MICHAEL KINLEY
------------------
By: Michael Kinley
President and Director
Date:    May 17, 2005



In  accordance  with the Exchange  Act, this report has been signed below by the
following  persons on behalf of the  registrant and in the capacities and on the
dates indicated.

SIGNATURES

/s/ MICHAEL KINLEY

Michael Kinley, President and Director

Date: May 17, 2005


                                      -28-