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

Petrostar Petroleum Corporation (TSX-Venture: PEP, Frankfurt: LMQ; "Petrostar" or the "Company") announces the following:

Private Placement Completed... 2 DHT Projects Under Review... 2 ETH Projects Pending...

The Company is currently reviewing 2 potential DHT pilot installations located within heavy oil projects existing in the southern US: one in Valverde County, Texas, and the other in Warren County, Kentucky. The primary objectives of the pilot tests on these projects will be to identify the most effective means by which mobilization of the heavy hydrocarbons in the reservoir can be produced into the wellbore and optimize the amount of heat required, including sizing the optimum Btu output of the DHT.

The projects if finalized would entail installation of Petrostar's DHT units and on-site training and familiarization under the supervision of the Company's personnel. A visit to the aforementioned locations by Petrostar personnel is expected to take place in the very near future.

The Company has also concluded discussions with 2 major oil companies to test 2 ETH units in 2 different venues. A test to evaluate the ETH will be installed in a production tank to confirm emissions and economic parameters as a head-to-head comparison to the existing equipment used in heat treatment of production storage facilities. In addition, a ETH unit will be installed and tested in an active drilling environment to heat water and drilling fluids before circulation down-hole as drilling proceeds. This will be an additional use of the ETH technology and focuses on its adaptability. More details are expected shortly when agreements on the aforementioned ventures are executed in the near future.

The TSX Venture Exchange has accepted for filing a non-brokered private placement of 1,065,000 units (the "Units") of the Company at a price of $0.10 per Unit for a total of $106,500.00. Each Unit will consist of one common share (a "Common Share") in the capital of the Company and one non-transferable share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional common share of the Company for a period of two years following the closing date at a price of $0.12 per share in the first year and $0.15 per share in the second year. The private placement is subject to a 4-month hold period.

For more information on Petrostar's DHT & ETH technologies, please go to the Company's website at: www.petrostarpetroleum.ca

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.