News & Updates

Petrostar Petroleum Corp. (“Petrostar” or “the Company”) wishes to announce the restructuring of the Board of Directors as follows:

1. Mr. Sam Nastat, Director, has resigned from the board as of February 6, 2012;
2. Mr. Dennis Mee, Director, has resigned from the board as of February 7, 2012; and
3. Ms. Deanna (Dee) Sauvé has been appointed to the Board of Directors.  Dee owns her own company, Bryan W. Kell Corporate Services Ltd., and has been providing various bookkeeping and corporate admin services to Petrostar since 2003.  Management welcomes the addition to the board.

Management would like to thank Dennis and Sam for their contributions to Petrostar and wish them all the best in their future endeavours.

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

Petrostar Updates Shareholders

May 11, 2011 - Victoria, BC – Petrostar Petroleum Corp. (TSX-Venture: PEP; Frankfurt: LMQ; “Petrostar” or “the Company”) issues this announcement to all its shareholders:

Prior to the start of trading this morning (May 11, 2011) the British Columbia Securities Commission (“BCSC”) issued a Cease Trade Order (“CTO”) for Petrostar’s shares.  The CTO was issued due the Company failing to file its audited annual financials and annual MD&A by the May 2, 2011 filing deadline.

Management has been in contact with the BCSC and is working to rectify the problem as quickly as possible.  Management is also in daily contact with the Company’s auditors, BDO Dunwoody of Vancouver, BC, and will file all necessary documentations as soon as they are completed.  Once all documentation is filed and all filing fees are paid, trading is expected to resume.

The Company has also filed notice with the TSXV to consolidate its outstanding shares on a 4:1 ratio, which was approved by shareholders at the Company’s last Annual General Meeting held June 29, 2010.  Management feels the consolidation is necessary to attract future financings.

About Petrostar Petroleum Corp.

Petrostar is a Canadian-based oil and gas exploration company.  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 at 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.  Petrostar is committed to advancing the use of “green technologies”, where possible, in the exploration and production of oil and gas.  Petrostar and its partner, King Energy Distribution, are working together to lessen overall emissions by developing, using and distributing new technologies to the oil and gas industry.

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