Petrostar's New Ceo Addresses Shareholders

14.09.2012  |  The Newswire

(via Thenewswire.ca)

September 14, 2012, Vancouver, BC - Petrostar Petroleum Corp. (TSX-Venture: PEP, "Petrostar" or "the Company") is pleased to announce a definitive point in the Company's history with the recent shareholder vote approving the TexAlta Industries purchase. Starting immediately, this pivotal point in Petrostar's operations allows the Company to focus on corporate expansion and development, such as:

-Develop & enhance producing assets through strategic JV partnerships;

-Expand equity base and increase market cap to strengthen corporate value;

-Continue to evaluate and develop micro power generation prospects;

-Utilize and develop case statistics for Booster Pump production enhancement;

-Identify and evaluate strategic growth opportunities

Petrostar's success hinges on a diversified expansion plan that will constantly advance the Company's financial position and corporate reputation. Initial stages are focused on developing and producing flowing crude oil assets. The importance of meeting this milestone is to provide the Company with cash flow, and expand the net asset base in the Company's portfolio. Through the development of assets and cash flow, Petrostar can increase its share value and market cap to provide a strong return for its shareholders.

While in the development stage, additional value-added services, such as Micro Power Generation, will be evaluated for economic potential. Please visit Petrostar's website at www.petrostarpetroleum.com for details on the Micro Power Generation. The process of evaluation is a limited capital expense and will provide core data in estimating the true economic potential of site-specific properties and projects.

Production aids and technologies that enhance the production capabilities of P&NG assets are also a focus of the Company. In the third quarter of 2012, Petrostar received some staggering enhancement results through a semi-exclusive Booster Pump offered through Alpha Oil Tool Inc. The Booster Technology is a fully functioning unit that is no longer in the core stages of R&D. Further field studies and trials on crude oil based production are anticipated in the fourth quarter of 2012. Pending upcoming results, management feels this technology could provide a strategic advantage over conventional operating results.

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Petrostar Petroleum Corporation

News Release

September 14, 2012

Page 2

On a continuing basis, Petrostar is seeking prospects and investment opportunities that could enhance the Company's competitive edge, and provide value to the Company's shareholders. With a successful fourth quarter, the Company will have gained investor confidence and placed itself in a strong position to raise capital, while avoiding over dilution to the current share base. It is very important to the integrity of the Company that management lead by example, and establishes a reputation of success and reliability.

In the event there are any questions or comments please feel free to contact Mr. Bruce Scafe at 1-877-737-8864 or by email at bscafe@petrostarpetroleum.com.

On behalf of the Board of Directors,

R. Mackenzie Loree

President, CEO & Chairman

About Petrostar Petroleum Corp.

Petrostar is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX Venture Exchange. The long-term objective of management is to aggressively seek properties with high potential that can be advanced with minimum expenditures. The policy of the Company is to lower shareholders' risk exposure to various stages of exploration by entering into joint ventures with third parties or acquiring projects that the Company can operate as the sole owner-operator.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.

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