Nanton, AB / ACCESSWIRE / October 16, 2014 / Petrostar Petroleum Corporation ("Petrostar" or "the Company") is very proud to announce that it's wholly owned subsidiary Lomac Canada Ltd. has signed a distribution agreement for the third party sale and distribution of specialty chemicals and methanol with Quadra Chemical's Ltd.
In preparation for this arrangement on October 7th 2014 Lomac had announced the completion of its Phase I turnaround on the company's tank farm and terminalling assets in Aldersyde Alberta. Lomac will utilize the facility as its headquarters and flagship development while it assesses and executes its southern Alberta development strategy.
PEP CEO R.M. Loree Stated "Our strategic arrangement with Quadra is imperative for the company's development and growth. Lomac feels strongly that product diversification and third party methanol supply will be imperative to supplement methanol feedstock in upcoming development operations."
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.
About Lomac Canada Ltd.
Lomac Canada Ltd is a wholly owned subsidiary of Petrostar Petroleum Corp. Lomac is engaged in the logistics and marketing of goods and commodities. The company is also engaged in the development of transhipment and bulk facilities to handle, manage and repackage products for sale.
For further information, please contact:
Bruce Scafe, Director
1-877-737-8864 or [email protected]
Alternate Contact.
Mackenzie Loree, CEO
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.
FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release. The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from a conclusion, forecast or projection in such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events.
When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION ON AT ANY PARTICULAR TIME.
SOURCE: Petrostar Petroleum Corporation