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Petrostar
Petroleum Corporation
Head Office: 615 - 700 W. Pender St.
Vancouver, BC V6C 1G8
Field Office: 6010 -A, 50th Ave.
Lloydminster, AB T9V 2T9
www.petrostarpetroleum.ca
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Petrostar
Petroleum Corp (C:PEP)
Shares Issued 91,579,843
Last Close 9/9/2009 $0.08
Thursday September 10 2009 - News Release
Mr.
Bruce Scafe reports
PETROSTAR
PETROLEUM HIRES PETROLEUM ENGINEER AND GIVES UPDATE
As
of Sept. 1, 2009, Petrostar Petroleum Corp. acquired the services of Aaron
Lane, Stone Ventures Ltd., Calgary, Alta.
Mr.
Lane received his BSc in petroleum engineering from the University of Alberta
in 2000, at which time he was awarded the Society of Petroleum Engineers
scholarship. Mr. Lane has extensive experience in both heavy and light oil and
in all areas of field operation. Mr. Lane is currently reviewing all of
Petrostar's existing operations and will head up all future projects for the
company with priority being given to completing the company's existing Bakken
exploration wells. Expense and budget reports are now being prepared for these
projects.
Maidstone
field update
Petrostar has started an
upgrading and workover program at its Maidstone field. The company has received
permits allowing it to explore and co-mingle production from the Sparky zone,
which previously has not been developed at the field. The rework program has
been initiated with completion expected shortly. Flow will be monitored and
then reported as to the success of the reworking of this zone. Additional wells
on the property will then be evaluated for a similar workover program. It is
the company's continuing focus to increase daily production at the Maidstone field.
On
behalf of the Board of Directors,
Bruce
Scafe
President
and Director
Safe Harbor Statement and Disclaimer:
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Act of 1934. A
statement identified by the words "expects", "projects",
"plans", and certain of the other foregoing statements may be deemed
forward-looking statements. Although Petrostar Petroleum Corporation believes
that the expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties that may cause
actual future activities and results to be materially different from those
suggested or described in this press release. These include risks inherent in
the development and production of oil wells, including risks of fire,
explosion, blowout, pipe failure, casing collapse, unusual or unexpected
formation pressures, environmental hazards, and other operating and production
risks inherent in oil production activities, which may temporarily or
permanently reduce production or cause initial production or test results to
not be indicative of future well performance or delay the timing of sales or
completion of production operations; risks with respect to oil prices, a
material decline in which could cause the Company to delay or suspend planned
drilling operations or reduce production levels; and risks relating to the
availability of capital to fund drilling operations that can be adversely
affected by adverse drilling results, production declines and declines in oil
prices and other risk factors.
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