News & Updates

Mr. Robert Sim reports

MOVING FORWARD WITH MAIDSTONE PROJECT DRILLING PROGRAM

Pajak Engineering Ltd. of Calgary has submitted a licence application on behalf of Petrostar Petroleum Corp. for drilling a vertical stratigraphic test well in D16-06-48-23W3. The well will be drilled to a depth of 575 metres, cored to determine other potential reservoirs that may be evaluated (Waseca and Sparky formations).

The horizontal well will initiate from a plug back in the vertical well and drilled at a depth of approximately 500 metres in the Mclaren reservoir and extended horizontally for approximately 1,300 metres and terminate in C13-06-48-23W3, 100 metres from the west lease boundary.

Pajak Engineering will be filing a licence application for a horizontal McLaren injector well within the next 10 days. The well will commence from A16-06-48-23W3 and will be drilled for approximately 1,300 metres and terminate in C12-06-48-23W3, 100 metres from the west lease boundary.

The company is also preparing to file a licence application to drill a horizontal well from location D9-06-48-23W3 which will terminate in B12-06-48-23W3, 100 metres from the west lease boundary. This well will be drilled in close proximity to existing vertical wellbores, A12-6, A11-6, A10-6 and A9-6 and provide a conduit for production fluids which is the basis for the patented Vertizontal Recovery System.

The company has been advised by Pajak Engineering that it should receive approval on all licence applications within 10 to 12 business days of submission.

The company will be forwarding an advance payment of $900,000 to Ensign Drilling Inc. of Calgary to secure ensign rig No. 28, which will be made available to the company to commence its drilling program. Barring any unforeseen delays with the drilling licence approvals, the company expects to be drilling mid to late September, 2006.

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The Toronto Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of failure to complete the proposed financing, failure to obtain necessary regulatory or shareholder approvals, exploration and other risk factors beyond its control and actual results may differ materially from the expected results.