Mr. Bruce Scafe reports
PETROSTAR PETROLEUM CORP. ELECTS NEW PRESIDENT; ELECTRIC TANK HEATER APPROVAL; BAKKEN WELL UPDATE
Petrostar Petroleum Corp.'s current board of directors was re-elected at the company's annual general meeting held on July 17, 2009. The board of directors has elected Bruce Scafe as president and chief executive officer of the company. William Stafford and Salvatore Giantomaso were re-elected as directors to the board, and Robert A. Sim was elected director and chief financial officer.
Update CSA approval for electric tank heater
On July 16, the company received verbal confirmation from Valex Manufacturing Inc., the CSA submitter on behalf of Petrostar Petroleum, that the electric tank heater unit has successfully completed CSA safety standards mass approval testing. CSA certificates will be issued to the company within three weeks. The company has been in discussions with prospective buyers during this time to initiate sales and will now be able to increase its activity in this area. Additionally, the company has been informed that it has received its updated filing receipt from the United States Patent & Trademark Office.
Bakken exploration program
The company is planning to return to perform completion work on its 01-26-014-31W1M well drilled in the vicinity of Moosomin, Sask. Subject to results, the well will be placed on production or will be re-entered and directionally drilled an additional 50 metres to 100 metres into the formation at some future date. The company is currently conducting a geological review of its Bakken leaseholds, prior to pursuing joint venture partners for future development on its 100-per-cent-owned leases located in southeast Saskatchewan and southwest Manitoba.
Additional information is available at the Petrostar web site at petrostarpetroleum.ca or toll free at 877-737-8864.
On behalf of the Board of Directors,
Bruce Scafe