Petrostar Receives CSA Approvals for Canada & USA on its Electric Tank Heater.... Additional Director Appointed....
Petrostar Petroleum Corporation (TSX-Venture: PEP, Frankfurt: LMQ; "Petrostar" or the "Company") announces the following:
Electric Tank Heater Update
The company has received final CSA Certificate of Compliance cert. # 2121885 for its Electric Tank Heater. The CSA certificate is valid for Canada and the USA as to the following standards; a Explosion Proof Enclosure for Use in Class I Hazardous Locations and CSA Std. C22.2 No.88-1958 - Industrial Heating Equipment and UL Std. No. 823 8th edition - Electric heaters for use in Hazardous (Classified) Locations. In addition to the CSA approvals the ETH has received Canadian Industrial Design and USA Patent designations. Many companies have expressed interest in the tank heater and have had representatives visit Petrostar's Lloydminster facility to inspect and learn more about the ETH technology. These companies include Husky Oil, Canadian Natural Resources, Pennwest and Devon Energy. Feedback to date has been very positive and Petrostar expects to be able to give further updates regarding trials and sales very shortly.
Corporate Update
The board of directors of Petrostar Petroleum Corp. has appointed Mr. Aaron Lane to the company’s board of directors. Mr. Lane has extensive experience in both heavy and light oil and in all areas of field operation. Mr. Lane received a B.Sc. in Petroleum Engineering from the University of Alberta in 2000. Mr. Lane has been reviewing all of Petrostar's current operations and will be making recommendations back to the board on all future projects.
The board of directors would also like to announce that they have appointed Mr. William Stafford a director of the company to the CFO's position. Mr. Stafford takes over the position replacing director Robert A. Sim. Mr. Stafford brings years of experience in the financial and tax service industry to the position. Mr. Sim will continue to act as company Secretary and director.
Maidstone Field
The company is currently completing an aggressive work over program on three suspended wells at the Maidstone field. This includes replacing all worn equipment and upgrading production techniques to return them to production. Further updates will be provided as the work continues.
On behalf of the Board of Directors,
Bruce Scafe