News & Updates

Petrostar Announces Results of 2010 AGM

July 13, 2011, Victoria, BC – Petrostar Petroleum Corp. (TSX-Venture: PEP, Frankfurt: LMQ; “Petrostar” or “the Company”) held its 2010 Annual General Meeting on Thursday, July 7, 2011 in Victoria, BC.

A quorum was achieved with 20.3% of the outstanding shares of the Company being represented.  A representative from Computershare Trust Company acted as scrutineer.

The results of the meeting were as follows:

1. Set the number of directors at 6 – 100%
2. Election of Directors – all 100%
   • Bruce Scafe;
   • William Stafford;
   • Joshua Prowse;
   • Graham Riley; and
   • Bruce Balazs
3. Appointment of BDO Dunwoody as auditor – 100%
4. Ratify and approve 2011 Stock Option Plan – 100%
5. Approve Chairman’s right to cast second vote if necessary – 100%
6. Approve the sale of the ¼ section, heavy oil asset in Lashburn, SK – 100%

About Petrostar Petroleum Corp.

Petrostar is a Canadian-based oil and gas exploration company trading on the TSX Venture Exchange on Tier 2.  The long-term objective of management is to aggressively seek properties with high potential that can be advanced with minimum expenditures.  The policy of the Company is to lower shareholders’ risk exposure to various stages of exploration by entering into joint ventures with third parties or acquiring projects that the Company can operate as the sole owner-operator.

For further information contact Bruce Scafe, President at 1-877-737-8864.