Nanton, AB / ACCESSWIRE / October 23, 2014 / Petrostar Petroleum Corporation ("Petrostar" or "the Company") is very pleased to announce that Maverick Northstar has been granted a technology licence extension to incorporate methanol dehydration. The technology is designed to process methanol feedstock into Dimethyl Ether also known as DME or methoxymethane.
The license extension gives Maverick Northstar exclusive rights to Maverick Synfuels DME (dimethyl ether) technology for British Columbia, Alberta and Saskatchewan.
What is DME?
DME (dimethyl ether) is a clean, colorless gas that is easy to liquefy and transport. It has remarkable potential for increased use as an automotive fuel, for electric power generation, and in domestic applications such as heating and cooking.
DME can be derived from many sources, including renewable materials (biomass, waste and agricultural products) and fossil fuels (natural gas and coal).
DME has been used for decades in the personal care industry (as a benign aerosol propellant), and is now increasingly being exploited for use as a clean burning alternative to LPG (liquefied petroleum gas), diesel and gasoline.
Like LPG, DME is gaseous at normal temperature and pressure, but changes to a liquid when subjected to modest pressure or cooling. This easy liquefaction makes DME easy to transport and store. This and other properties, including a high oxygen content, lack of sulfur or other noxious compounds, and ultra clean combustion make DME a versatile and promising solution in the mixture of clean renewable and low-carbon fuels under consideration worldwide.*
PEP's CEO R. Mackenzie Loree stated: "Petrostar Petroleum is very pleased with the developments that Maverick Northstar has made in the 3rd quarter. The licence extension into the DME market provides a valuable market alternative for Mavericks proposed methanol developments. In the larger picture for PEP's portfolio we are now in a position to horizontally and vertically integrate salable product from the wellhead to final distribution. This includes TexAlta in P&NG exploration and production, Maverick Northstar in natural gas and methanol processing, and Lomac Canada for logistics and commodity sourcing and marketing.
The company's next step will be the evaluation and licensing of site specific GTL sites in conjunction with strategically located properties held by the company and its subsidiaries."
*International DME Association
About Petrostar Petroleum Corp.
Petrostar is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX Venture Exchange with property assets in both Alberta and Saskatchewan.
www.petrostarpetroleum.com
About Maverick Northstar Ltd.
Maverick Northstar is a privately held corporation incorporated in the Province of Alberta. Petrostar petroleum Corp owns 60% of the total shares issued and outstanding in the entity. Maverick Northstar is engaged in the development and operations of energy processing equipment and technologies.
www.mavericknorthstar.com
For further information, please contact:
Bruce Scafe, Director
1-877-737-8864 or bscafe@petrostarpetroleum.com
Alternate Contact.
Mackenzie Loree, CEO
mloree@petrostarpetroleum.com
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FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release. The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from a conclusion, forecast or projection in such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events.
When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION ON AT ANY PARTICULAR TIME.
SOURCE: Petrostar Petroleum Corporation