Nanton, AB / ACCESSWIRE / September 30, 2014 / Petrostar Petroleum Corporation ("Petrostar" or "the Company") is proud to announce that Lomac Canada Ltd. a wholly owned subsidiary of Petrostar has initiated and completed the first commercial sales of methanol and chemical product in Western Canada.
Lomac Canada operates in conjunction with fellow Petrostar subsidiaries and third party corporations for logistics, wholesale/distribution, and trade of commodities. The company is in its final negotiations with a National Chemical corporation and anticipates the completion of a distribution licence in 4th quarter 2014.
R. Mackenzie Loree PEP CEO Stated "Petrostar is pleased with the ground work that the company has made with Lomac Canada and the completion of its 3rd quarter milestone. The company is poised to initiate an early entry into the oil and natural gas chemical market. Further development interests will align with PEP's investment interests for the purchase, sale and trade of petroleum and non-petroleum based commodities."
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.
About Lomac Canada Ltd.
Lomac Canada Ltd is a wholly owned subsidiary of Petrostar Petroleum Corp. Lomac is engaged in the logistics and marketing of goods and commodities. The company is also engaged in the development of transhipment and bulk facilities to handle, manage and repackage products for sale.
For further information, please contact:
Bruce Scafe, IR and Communications Officer
1-877-737-8864 or bscafe@petrostarpetroleum.com
Alternate Contact.
Mackenzie Loree, CEO
mloree@petrostarpetroleum.com
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.
SOURCE: Petrostar Petroleum Corporation