Box # 1284 Nanton, Alberta - T0L 1R0 Tel. 403-861-6779

N e w s R e l e a s e

December 8, 2014 TSX-V Symbol: PEP

PETROSTAR DEVELOPMENT STRATEGY

Petrostar Petroleum Corporation ("Petrostar" or "the Company") management is pleased to provide this

important corporate overview and development strategy for the company's short and longer term plans.
Petrostar Petroleum has initiated three corporate developments though it's strategically owned operating
subsidiaries: LOMAC Canada Ltd., Maverick Northstar, & TexAlta Industries Ltd.
The Company is focused on the development of Immediate, short term and long term projects that add significant cash flow and value to the Corporation. Each development project has the ability to rapidly expand and be replicate based on regional and economic opportunities.
The company's vision is to develop commodities and the value added chain from the wellhead to the consumer. This includes and is not limited to technology, service, production, manufacturing and the sale of goods and commodities such as petroleum, natural gas, methanol, DME, and chemical.

CAPITAL REQUIRMENTS PER DEVELOPMENT

PROPOSED METHODS OF FUNDING

The Company has 5 methods of proposed financing for its upcoming developments and operational programs:

 Private Placement

 Debt for Equity Arrangements

 Shares for Service Agreements

 Convertible Debentures

 Collateralized Bonds

The proposed methods of financing are not listed in order or preference to the company. The success of the Company will rely on its ability to secure financing and commitments to complete each individual program from start to completion. COMPLETION IS REACHING POSITIVE CASHFLOW

LOMAC CANADA LTD. - COMMODITY MARKETING & LOGISTICAL BRANCH

LOMAC has initiated and commenced its marketing, logistical and terminalling operation of third party methanol and chemicals for the oilfield industry. The Company is focused on the market development of its southern Alberta interests and plans to continue to develop its product lines and service base to the oil and gas industry.

KEY ATTRIBUTES OF THE DEVELOPMENT

 Minimal Capital Requirement

 Existing Infrastructure and Operational Base

 Strategic Alignment with Third Party Wholesaler and Manufacturer

 Opportunity for Market Share Growth and Advancement

STRATEGIC DEVELOPMENT STRATEGY

LOMAC plans to expand its service and market base through the integration of sister developments and third party opportunities. The company will remain focused on the oil and gas sector from the wellhead to the consumer.

MAVERICK NORTHSTAR INC. - GTL DEVELOPMENTS & RESOURCE DEVELOPMENT

Maverick has initiated a long term plan for the preparation, licensing and development of the company's natural gas to methanol (GTL) technology. The developments will be broken into three phases of operation: Site Preparation & Licensing, Construction & Plant Commissioning, Operations and Management.
The key to success will be the Company's ability to successfully complete and assess the producing assets production capabilities and to prepare the sites for the future modular GTL development. An active location and adequate calculation of in-house feedstock is to make preparations for final planning and execution of the utilization of the desired facility.

KEY ATTRIBUTES OF THE DEVELOPMENT

 Focus Placed on Established Areas with Historical Production

 Future Exploration & Development Upside

 Mobile & Efficient Facility Design

 Gross Return of $13.00 per MCF Equivalent

 Opportunity to Further Develop NG Reserves and Producing Assets

STRATEGIC DEVELOPMENT STRATEGY

Maverick Northstar's GTL developments will provide the company and its parent company the
strategic advantage of achieving the equivalent of petroleum liquids pricing. Through this achievement additional investment and corporate efforts will be directed towards development, procurements and expansion of natural gas assets and producing properties. Through additional investment the Company can manage its feedstock costs and capitalize on undervalued raw commodity (natural gas) pricing.
Additional efforts have been made by the Company to increase its presence in the marketability of raw methanol and processed methanol as a road based fuel. Many factors including third party market development will be imperative to add additional value to procured technologies such as DME manufacturing and processing.

IMPORTANT NOTES OF DEVELOPMENT

Maverick Northstar has obtained technology licensing for the regions of Saskatchewan, Alberta and British Columbia for the use, development and sale of natural gas to methanol and methanol dehydration processing equipment.
The commercial feasibility of the methanol dehydration processing technology is based on the successful market acceptance of DME (Dimethyl Ether) as an alternative fuel. The development of DME fuel markets and DME consuming products are not the intention of Maverick Northstar or its parent Corporation.

TEXALTA INDUSTRIES LTD - SOUTHERN ALBERTA CLASS 1B DISPOSAL PROJECT

TexAlta has initiated a development plan to stimulate cash flow and to promote the development of long term growth. The development has been formulated to service the niche oilfield disposal market of Southern Alberta. Produced wastes and by-products such as frac flow back fluids, produced water and emulsions will be processed and disposed of by way of deep well injection.
The development has been initiated and will commence in the following order:

 Pre-screening of proposed sites and location

 Design and Engineering of surface facility and support equipment

 Issue order for manufacturing of facility equipment

 Negotiate and procure location and land lease

 Complete wellbore evaluation and production capabilities

 Licence facility with AER and regulatory boards

 Construction & development phase

 Project close & turnover to management team

KEY ATTRIBUTES OF THE DEVELOPMENT

 Established Area with Historical Production

 Future Exploration & Development Potential

 Mobile & Efficient Facility Design

 Facility is capable of Offloading 6 Units at a time

 High H20 Processing Capability

 Current Infrastructure is Bottleneck

 Low Development Cost

STRATEGIC DEVELOPMENT STRATEGY

TexAltas niche will be its regional positioning to access consistent feedstock that requires tanker and disposal services along with areas of strategic importance through excess waste from fracing and well service operations.

IMPORTANT NOTES OF DEVELOPMENT

TexAlta may change its name in accordance with its disposal operations. These changes will not affect Petrostar's percentage of ownership or rights as a parent company throughout name alterations or operating adjustments.
Further corporate developments will be made in management, safety, accounting and day to day operations. TexAlta will evolve its operations into a fully functional corporation capable of independently operating with general guidance from Petrostar.

COMPANY CONTACT

Primary Contact: R. Mackenzie Loree Email: [email protected] Telephone: 403-861-6779
Address: Box 1284, Nanton, Ab. T0L 1R0

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. For further information, please contact:
Bruce Scafe, Director
1-877-737-8864 or [email protected]
Alternate Contact.
Mackenzie Loree, CEO
1-403-861-6779 or [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.