Petrostar Petroleum Corporation ("Petrostar" or the "Company") is pleased to announce that the Company's board of directors has selected Lynda D. Olsen to be appointed as a new director of the Company, subject to her successful approval by the TSX Venture Exchange. Ms. Olsen brings over 25 years of experience as an operations executive principally in the oil and gas industry, including 12 years with BP/Amoco. For the past eight years, she has owned and operated a successful consulting business, Global Business Ventures, which is engaged in a variety of business-related functions for private enterprises relative to cost recovery for major oil and gas company operations both domestically and internationally.
Ms. Olsen's appointment will provide Petrostar with multi-industry consulting experience emphasizing financial, systems and operational expertise. She is expected to bring a proven track record and demonstrated strengths to the Company in such areas as:
-mobilizing project start-ups, project planning, scheduling, coordination and execution;
-organizational and infrastructure development;
-acquisitions and divestitures, strategy building and financial and risk management analysis;
-cost controls and project accounting;
-contract negotiations and operations management, including purchasing and materials;
-market share strategies, sales and marketing management;
-competitive manoeuvring; and
-client and vendor management.
The Company believes that Ms. Olsen's extensive business knowledge will be extremely valuable to Petrostar moving forward.
Ms. Olsen holds a Bachelor of Science degree from the University of LaVerne in, LaVerne, California, and Master of Business Administration and Master of Management degrees from Braniff Graduate School in Dallas, Texas.
R. Mackenzie Loree, Petrostar's CEO, stated, "The introduction of Lynda's expertise and experience is going to be an invaluable asset to the board of Petrostar. We are very much looking forward to working together on developing the company's future."
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.
Mackenzie Loree, CEO
1-403-861-6779 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.
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.