Petrostar Incorporates Refining Entity
(via Thenewswire.ca)
February 19, 2013, Vancouver, BC - Petrostar Petroleum Corp. (TSX-Venture: PEP; "Petrostar" or "the Company") is pleased to introduce its newly formed company, Farrow Distillation Corp., incorporated in the Province of Alberta, Canada.
Farrow Distillation is Petrostar's inaugural modular distillation development project to be located in Southern Alberta.
The new entity will be comprised of a joint ownership between Nepco LLC and Petrostar Petroleum Corp. Management of the new entity will include parties from both Petrostar and Nepco. These members will be disclosed at a future date.
R. Mackenzie Loree, Petrostar's CEO, stated:
"Petrostar has reached a pivotal milestone with the incorporation of Farrow Distillation Corp. Management has some core objectives to achieve, but we are confident that we will stay within the timeline that has been previously disclosed.
I would like to extend my appreciation to the shareholders and interested parties behind Petrostar for their support."
For additional information regarding the modular refining projects, please refer to the following news releases that can be found on Sedar at www.sedar.com or on Petrostar's website at www.petrostarpetroleum.com:
October 25th; November 5th, 12th and 15th, 2012 and January 30, 2013
For further information please contact Bruce Scafe, Investor Relations Officer at 1-877-737-8864. Or bscafe@petrostarpetroleum.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of Petrostar are forward looking-statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Petrostar's plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timelines of government or regulatory approvals and other risks inherent in the oil and gas and mineral exploration industries and from the time to time in the filings made by Petrostar . Petrostar makes all reasonable efforts to update its corporate material, documentation and forward-looking information on a timely basis.
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