Thursday, 16 May 2013 04:34 PM
May 16, 2013, Vancouver, BC - Petrostar Petroleum Corp. (TSX-Venture: PEP, "Petrostar" or "the Company") is pleased to announce that it has received an offer to purchase its Lashburn heavy oil property in Saskatchewan (SE/4 15-48-24W3). A private oil and gas company out of Calgary, Alberta presented the Company with a cash offer of $110,000.
The intent to sell this property was originally voted on and approved by the shareholders of the Company at the Annual General Meeting held on July 7, 2011.
Petrostar management has accepted the offer. The sale of the property is subject to regulatory approval.
About Petrostar Petroleum Corp.
Petrostar is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX Venture Exchange with property assets in both Alberta and Saskatchewan.
For further information, please contact:
Bruce Scafe, IR and Communications Officer
1-877-737-8864 or [email protected].
Alternate contact information:
Dee L. Sauve
Corporate Compliance Officer
604-568-4350 or [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.