News & Updates

Petrostar Petroleum Corporation (TSX-V-PEP, the “Company”) is pleased to report the Enhancement Recovery System (ERS) is nearing the testing stage. The ERS is specialized equipment developed by the Company and its joint venture partner, Vertizontal Energy Resources Inc. for enhanced recovery in existing and newly discovered reservoirs. In many fields, only 5% to 10% of the Original Oil In Place (OOIP) in conventional vertical and horizontal wells is recovered under primary depletion and conventional water flood techniques. The Company intends to test and utilize a stimulation and enhanced recovery technique that will integrate the application of existing technology with the innovative ERS on its Maidstone property in North Central Saskatchewan, with the stated objective of improving recovery rates of OOIP.

The details of the ERS process will be articulated in the future as the Company secures requisite patents for the technology. To expedite the patent process, the Company has retained the services of Hicks & Associates (formerly Hicks & Penman Ltd.) who are currently filing all necessary patent pending documents on behalf of the Company. In the meantime, the Company has a commitment from its supplier to have in its possession the specialized armored cable, a critical component of the ERS by June 26, 2006 at its fabrication center in Red Deer, Alberta. Thereafter, the components of the ERS will be assembled and a delivery system utilizing a coil tubing service rig will be delivered for testing on the Company’s Maidstone property.

In other news, the Company has secured the services of Pajak Engineering to oversee all aspects of the engineering and drilling of the Vertizontal Recovery System (VRS) of which the Company owns 20% (www.vertizontalenergy.com). With regards to testing of the VRS, the Company is in the process of completing negotiations of the VRS entry pads which will result in substantial cost savings and reduction of risk associated with horizontal drilling.

Additionally, the Company has also secured the services of Fekete Associates Inc. to prepare and file the necessary documents to obtain permits from the Saskatchewan Industry and Resources (SIR) to proceed with its Maidstone project development plans. The application will include submissions for subsidies and reduced royalties that qualify under the SIR’s new technology grants offered under Saskatchewan Petroleum Research Incentive, which has the potential to have significant financial benefits to the Company. Upon receipt of permits from SIR, the Company will instruct Pajak Engineering to initiate all developmental work.

In other events, the Company will be participating at the Global Petroleum Show (GPS) being held at the Stampede Park in Calgary, AB from June 13 to 16, 2006. With more than 1,600 industry related companies participating in the GPS, the event is one of the largest of its kind in the world. We welcome all interested parties to visit our booth located in the Lower Big 4 Building, Booth No. 5456.

Petrostar Petroleum Corporation is focused on developing, testing and proving technologies that will enhance production of medium/heavy crude and natural gas reserves. Additionally, the Company has the benefit of holding properties that are currently producing medium/heavy crude in which to test these emerging technologies. As the Company reaches each milestone as established in its business plan, it will be pleased to share the results through ongoing communication with its shareholders, and company & industry stakeholders.

ON BEHALF OF THE BOARD OF DIRECTORS

“Robert A. Sim”
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Robert A. Sim, Director

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.