Petrostar and Abundant Wealth Inc. Sign $25,000,000 Agreement

(via Thenewswire.ca)

January 22, 2013, Vancouver, BC - Petrostar Petroleum Corp. (TSX-Venture: PEP; "Petrostar" or "the Company") announces that further to its new release of January 21, 2013, there is an amendment to the name of the investing partner. The Reserve Equity Line of Credit Agreement valued at $25 million was signed with Abundant Wealth Inc., not Abundant Wealth Management Inc.

Abundant Wealth Inc. is a private, equity investment firm located in Calgary, Alberta.

The management of Petrostar would like to apologize for any inconvenience this small error may have caused.

The agreement is subject to Exchange filings and regulatory approvals.

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.

For further information, please contact Bruce Scafe, IR and Communications 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.

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