PETROSTAR -Börsenstar?

Petrostar hires Wakabayashi Fund for IR


2009-11-06 09:57 ET - News Release

Mr. Bruce Scafe reports

PETROSTAR ENTERS INTO INTERNATIONAL FINANCE & INVESTOR RELATION CONTRACTS WITH WAKABAYASHI FUND LLC

Petrostar Petroleum Corp. has engaged the services of Wakabayashi Fund LLC of Tokyo, Japan. Wakabayashi Fund LLC will provide institutional investor relations and investment banking consulting services to arrange $3.3-million in working capital for Petrostar. The term of the contract is six months with an option to extend the investor relations contract. For its services, Wakabayashi Fund LLC will receive success fees on all funds raised at the rate of 7 per cent (or such lesser amount as permitted by the TSX Venture Exchange). Additionally, for investor relations services, Wakabayashi Fund will be paid a $20,000 (U.S) retainer and will be issued 1.5 million share options exercisable at a price of 10 cents (Canadian) for a period of one year. Options will vest to the Wakabayshi Fund LLC as permitted under TSX Venture Exchange rules.  

The emphasis of the funding project and investor relations services shall be personal introduction of Petrostar to money managers, equity fund managers, hedge fund managers, pension fund managers, financial analysts, institutional brokers, venture capitalists, investment bankers, and wholesale and retail markets. Particular emphasis will be on assisting Petrostar in international branding of the company's electric tank heater (ETH) and down hole heating tool (DHT) technologies and to highlight Petrostar's plans to further develop and explore the company's Bakken formation lands in Southeastern Saskatchewan and Southwestern, Manitoba.

We seek Safe Harbor.  

Petrostar converts Maidstone well to production


2009-11-23 18:31 ET - News Release

Mr. Bruce Scafe reports

PETROSTAR PETROLEUM PLANS TO ISSUE INCENTIVE STOCK OPTIONS MAIDSTONE WATER FLOOD PROJECT UNDERWAY

Petrostar Petroleum Corp. plans to issues 2,495,000 incentive stock options to directors, officers and consultants of the company. Directors and officers will receive a total of 950,000 share options and 45,000 are to be received by a service contractor to the company.

As announced previously, the Wakabayashi Fund of Tokyo, Japan, will receive 1.5 million share options as agreed for investor relations services and capital fund services. All options will be priced at 10 cents and are exercisable for a period of one to five years.

Maidstone update

Previously the company's Maidstone HZ1-1A16-6-48-23-W3M well was licensed as an injection well for the purpose of a water flood program for the Maidstone field, but was initially completed as a production well. As of Nov. 20, 2009, work has been completed converting the well from production to an injection and disposal well, and has been approved by Saskatchewan Industry Resources. This will now allow the company to start its water flood program. This will assist in pressurizing the field with the intended result of increasing production from off-setting wells. This will also reduce the company's operating cost by disposing of its own water and eliminating trucking and contract disposal fees. The well will also be a revenue generator by being able to accept compatible water from neighbouring companies for water disposal on a fee for volume basis.

We seek Safe Harbor.  

We would like to introduce you to our latest client, Petrostar Petroleum Corporation. Petrostar Petroleum is a Canadian-based oil and gas producer committed to providing sustainable growth and value to the shareholders through progressive production of heavy and medium oil properties and development as well as implementation and commercialization of enhanced oil recovery systems and processes.

The long term objective of the Company's management is to aggressively seek lower risk properties with high potential that can be advanced with minimum expenditures.

The policy of the Company is to lower shareholder's risk exposure at various stages of exploration by entering into joint ventures with third parties or acquiring projects that the company can operate as the sole owner-operator.

Petrostar Petroleum Corp. utilizes distinct technologies in their productions. The Company designed a Down Hole Tool, DHT that electrically heats opposite the perforations in a heavy oil well to add heat to the area; improving the production of the well up to 30%. The Company also created the Electric Tank Heater, ETH, that heats oil tanks without burning fossil fuels, so that the production of greenhouse gas, caused by the fossil fuel heat, to be eliminated.

Petrostar Petroleum Corporation is seeking funding of $3.3M CAD to fund operations in production of oil and natural gas.  Petrostar will utilize the funding in order to further their exploration of new mines and new sites. Particular emphasis will be on assisting Petrostar in international branding of the company's Electric Tank Heater (ETH) and Down Hole Heating Tool (DHT) technologies and to highlight Petrostar's plans to further develop and explore the company's Bakken Formation lands in S.E. Saskatchewan and S.W. Manitoba, Canada.

Petrostar Petroleum Corporation will then proceed with its plans for future development and commercialization of the ETH at the manufacturing level. The current focus and perhaps the biggest market will be on the burner replacement level. Further developments are expected as the final CSA approval is received and commercialization plans prepared.

We are currently presenting Petrostar Petroleum Corp. to the professional investment community. We invite you to browse Petrostar Petroleum Corp.'s website, www.petrostarpetroleum.ca. If there is any interest on your part, we would be pleased to provide you with more comprehensive information on the company for your review and consideration. Thank you for your interest and I will plan to follow up with you in the very near future.

Most sincerely,

Tadaharu Wakabayashi
Chairman, Co-Founder, Director
Wakabayashi Fund LLC.
4-13-20 Mita Minato-ku
Tokyo Japan 108-0073
T: 81.03.6657.8339 JP
T: 01.914.613.3002 US
E: tad@wakabayashifund.com  

http://www.wakabayashifund.com/ExecSumm/...ar_Petroleum_Exec_Summ.pdf  

Petrostar extends 25-cent warrants by two years


2009-12-17 18:12 ET - News Release

Mr. Bruce Scafe reports

PRIVATE PLACEMENT WARRANT AMENDMENT

Petrostar Petroleum Corp. management has decided to proceed with a two-year extension of warrants issued from its Dec. 28, 2007, private placement. Each full warrant will entitle the holder thereof to purchase one additional common share of the company for a period of two years following the extension date at a price of 25 cents per share to Dec. 28, 2010, and 30 cents per share to Dec. 28, 2011. All warrantholders from that private placement should contact the company for further information regarding this matter.

Management wishes to give past supporters of the company the continued opportunity to be able to exercise their warrants over the next two years. Management feels confident that the company's continued work and development of its EHT electric tank heater and projects for its DHT downhole heating tool, along with renewed enthusiasm for further exploration of its 100-per-cent-owned petroleum and natural gas leases that are located in the southeast Saskatchewan extension of the prolific Bakken oil play that covers Southern Alberta, Saskatchewan, Manitoba, and Montana and North Dakota.

We seek Safe Harbor.  

Petrostar Petroleum 3.15 million warrants extended


2009-12-23 19:25 ET - Miscellaneous

The TSX Venture Exchange has consented to the extension in the expiry date of the following warrants.

Private placement


Number of warrants:  3.15 million

Original expiry date of warrants:  Dec. 29, 2009

New expiry date of warrants:  Dec. 29, 2011

Exercise price of warrants:  30 cents  

Petrostar Petroleum 1,065,000-share private placement


2009-12-30 20:27 ET - Private Placement

The TSX Venture Exchange has accepted for expedited filing documentation with respect to a non-brokered private placement announced Nov. 2, 2009.


Number of shares:  1,065,000 shares

Purchase price:  10 cents per share

Warrants:  1,065,000 share purchase warrants to purchase 1,065,000 shares

Warrant exercise price:  12 cents for a one-year period and 15 cents in the second year

Hidden placees:  Nine hidden placees participated

Insiders:  William Stafford, 250,000; Bruce Scafe, 50,000  

Petrostar Petroleum Corporation
Head Office: 615 - 700 W. Pender St.
Vancouver, BC V6C 1G8
Field Office: 6010 -A, 50th Ave.
Lloydminster, AB T9V 2T9
www.petrostarpetroleum.ca  

Petrostar Petroleum Corporation (TSX-Venture: PEP, Frankfurt: LMQ; "Petrostar" or the "Company") announces the following:

Private Placement Completed... 2 DHT Projects Under Review... 2 ETH Projects Pending...

The Company is currently reviewing 2 potential DHT pilot installations located within heavy oil projects existing in the southern US: one in Valverde County, Texas, and the other in Warren County, Kentucky. The primary objectives of the pilot tests on these projects will be to identify the most effective means by which mobilization of the heavy hydrocarbons in the reservoir can be produced into the wellbore and optimize the amount of heat required, including sizing the optimum Btu output of the DHT.

The projects if finalized would entail installation of Petrostar's DHT units and on-site training and familiarization under the supervision of the Company's personnel. A visit to the aforementioned locations by Petrostar personnel is expected to take place in the very near future.

The Company has also concluded discussions with 2 major oil companies to test 2 ETH units in 2 different venues. A test to evaluate the ETH will be installed in a production tank to confirm emissions and economic parameters as a head-to-head comparison to the existing equipment used in heat treatment of production storage facilities. In addition, a ETH unit will be installed and tested in an active drilling environment to heat water and drilling fluids before circulation down-hole as drilling proceeds. This will be an additional use of the ETH technology and focuses on its adaptability. More details are expected shortly when agreements on the aforementioned ventures are executed in the near future.

The TSX Venture Exchange has accepted for filing a non-brokered private placement of 1,065,000 units (the "Units") of the Company at a price of $0.10 per Unit for a total of $106,500.00. Each Unit will consist of one common share (a "Common Share") in the capital of the Company and one non-transferable share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional common share of the Company for a period of two years following the closing date at a price of $0.12 per share in the first year and $0.15 per share in the second year. The private placement is subject to a 4-month hold period.

For more information on Petrostar's DHT & ETH technologies, please go to the Company's website at: www.petrostarpetroleum.ca

On behalf of the Board of Directors,

Bruce Scafe

President and Director  

http://www.canadianinsider.com/coReport/allTransactions.php?ticker=pep  

 

Petrostar Petroleum Corporation
Head Office: 615 - 700 W. Pender St.
Vancouver, BC V6C 1G8
Field Office: 6010 -A, 50th Ave.
Lloydminster, AB T9V 2T9
www.petrostarpetroleum.ca  

NEWS RELEASE
January 27, 2010
Petrostar Receives United States Patent for Its ETH Zero CO2 Technology....

Petrostar (TSX-Venture: PEP, Frankfurt: LMQ; "Petrostar" or the "Company") wishes to announce that on November 24, 2009 it has received from the United States Patent Office, US Patent (#D604,815), for its proprietary ETH (Electric Tank Heater) technology. The ETH now has received full CSA approvals, Canadian Industrial Design protection and now US patent approval.

The ETH unit is capable of replacing current burner tube tank heating devices and has a zero CO2 emission signature as well as the potential of reducing operating costs by using power generated from top drive motors and eliminating the fuel requirements of the burner units for those batteries that are not running on electricity.

Petrostar Petroleum Corp has entered into a joint pilot project to test and evaluate Petrostar Petroleum Corp's Electric Tank Heater. More details are expected to be available shortly as the testing continues and field data is compiled and results analyzed.

On behalf of the Board of Directors,

Bruce Scafe

President and Director

Safe Harbor Statement and Disclaimer:
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects", "projects", "plans", and certain of the other foregoing statements may be deemed forward-looking statements. Although Petrostar Petroleum Corporation believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the development and production of oil wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of production operations; risks with respect to oil prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil prices and other risk factors.  

Petrostar Petroleum Corporation
Head Office: 615 - 700 W. Pender St.
Vancouver, BC V6C 1G8
Field Office: 6010 -A, 50th Ave.
Lloydminster, AB T9V 2T9
www.petrostarpetroleum.ca  

NEWS RELEASE
February 18, 2010
Petrostar To Continue Bakken Development Program....

Petrostar Petroleum Corp. (TSX-Venture: PEP, Frankfurt: LMQ; "Petrostar" or the "Company") announces that work is scheduled to commence on one of the company's 100% owned P&NG leases that are located in the SE. Saskatchewan extension of the prolific Bakken oil formation. This work is scheduled to begin on or before February 24 2010. The company has contracted Innovative Supervision Ltd. of Estevan, Saskatchewan to supervise and complete the project. The extent of this initial work program will be to re-enter and re-complete the A1-26-14-31W located near Moosomin, SK l in order to place the well on production. The A1-26 well was initially drilled and completed in the fall of 2008, with positive results. Oil sands were encountered and the well completed through to installing production facilities including pumps and storage tank. However completion technicalities failed to sustain production. Petrostar management has determined that the well was perforated in a shale stringer of the zone with resulting poor inflow. What production inflow occurred was light oil (32API) with no water content. The recommendations of the latest geologic and engineering assessment are that the zone be perforated to its full extent above and below the old perfs. Petrostar management has decided to proceed with these recommendations. It is the consensus that A1-26 will be a producing well and will be a new discovery in this area for Petrostar. Once this re- work program is completed, flow rates will be determined and announced and the well placed back on production. Petrostar management will then look to expanding their exploration programs on its leases that are located in the SE Saskatchewan extension of the prolific Bakken oil play that covers Southern Alberta, Saskatchewan, Manitoba and Montana and North Dakota in the USA. To date the Company has acquired P&NG leases covering some 30 locations, both in the SE Saskatchewan area and in SW Manitoba.

On behalf of the Board of Directors,

Bruce Scafe
President
Petrostar Petroleum Corp.
1-877-737-8864
1-250-710-4022 Cell
bscafe@shaw.ca

Head Office: 908 Hillside Avenue Victoria, B.C. V8T 1Z8
Telephone: 250-383-2000 Fax: 250-383-2020
Field Office: 6010 A 50th Avenue, Lloydminster, AB, T9V 2T9
Telephone: 780-872-7339 Fax: 780-872-7149
Mailing Address: Box 11590, Lloydminster, AB T9V 3B8
Safe Harbor Statement and Disclaimer:
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects", "projects", "plans", and certain of the other foregoing statements may be deemed forward-looking statements. Although Petrostar Petroleum Corporation believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the development and production of oil wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of production operations; risks with respect to oil prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil prices and other risk factors.  

Petrostar Um weiter Bakken Development Program ....

Petrostar Petroleum Corp (TSX-Venture: PEP, Frankfurt am Main: LMQ; "Petrostar" oder das "Unternehmen") gibt bekannt, dass die Arbeit zu beginnen, auf einem der 100% im Besitz des Unternehmens P & NG Leasingverhältnisse, die in der SE befinden, geplant. Saskatchewan Verlängerung der produktivsten Bakken Öl-Formation. Diese Arbeit wird voraussichtlich am oder vor dem Beginn des 24. Februar 2010. Das Unternehmen verfügt über innovative Supervision Ltd Estevan, Saskatchewan vertraglich zu überwachen und zu ergänzen das Gesamtbild. Der Umfang dieser ersten Arbeiten Programm wird neu eingeben und neu füllen Sie das A1-26-14-31W in der Nähe Moosomin, SK l liegt, um den Ort und auf die Produktion. Die A1-26 und wurde zunächst gebohrt und im Herbst 2008 abgeschlossen, mit positiven Ergebnissen. Ölsand vorhanden waren und die auch durch die Installation von Produktionsanlagen einschließlich Pumpen und Vorratsbehälter abgeschlossen. Abschluss technischen jedoch nicht auf die Produktion aufrecht zu erhalten. Petrostar Management hat festgestellt, dass der Brunnen in einem Schiefer Stringer der Zone durchbrochen mit daraus resultierenden schlechten Zulauf. Was geschah, war die Produktion Zufluss Leichtöl (32API) ohne Wassergehalt. Die Empfehlungen der neuesten geologischen und technischen Beurteilung sind, dass die Zone in vollem Umfang über und unter der alten perfs perforiert werden. Petrostar Management hat beschlossen, diesen Empfehlungen zu verfahren. Es ist der Konsens, dass A1-26 wird eine produzierende gut und soll eine neue Entdeckung in diesem Bereich für Petrostar. Sobald diese Nacharbeit Programm abgeschlossen ist, wird Durchsätze bestimmt und bekannt gegeben und die weit nach hinten auf die Produktion gelegt. Petrostar Management sieht dann den Ausbau ihrer Erforschung Programme auf ihre Pachtverträge, die in der SE Saskatchewan Verlängerung der produktivsten Bakken Öl spielen, Southern Alberta, Saskatchewan, Manitoba und Montana und North Dakota in den USA umfasst befinden. Um das Unternehmen heute hat P & NG Mietverträge für rund 30 Standorten, sowohl im Bereich SE Saskatchewan und Manitoba in SW erworben.

Im Namen des Board of Directors,

Bruce Scafe
Präsident
Petrostar Petroleum Corp
1-877-737-8864
1-250-710-4022 Cell
bscafe@shaw.ca  

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NEWS RELEASE
March 10, 2010
Petrostar's ETH Field Tests Exceed Expectations

Petrostar Petroleum Corp. (TSX-Venture: PEP. Frankfurt: LMQ; "Petrostar" or the "Company") announces an update to the pilot project testing of the Company's Electric Tank Heater technology (ETH).

In January of this year, SR Rentals of Elk Point, Alberta installed one of Petrostar's Electric Tank Heaters into one of its company's mud rental tanks for testing on an active drilling site. SR Rentals supplies some of Canada's largest oil companies with mud tanks and supplies as necessary equipment used in the drilling of oil and gas wells. The Company's ETH was installed in one of the mud tanks required to hold drilling fluid for the drill rig, in order to keep the drilling fluid from freezing during drilling. Normally the drill rigs boiler would provide heating to the drilling fluid tanks through high-pressure steam hoses. The pilot project parameter was to test the ETH's ability to maintain storage tank drilling fluids at a set temperature in extreme cold conditions.

Petrostar management is happy to announce that after four weeks of on-going use, the ETH performed exceptionally well with no reported problems. Mr. Shane Smith of SR Rentals told the Company that the feedback he had from the drill site of one of Canada's largest oil and gas companies was very positive for the ETH, that the ETH did exactly what the drill crew needed and that there were no problems with keeping a constant temperature control even on the coldest days. The drill crew was very positive about the safety aspect of the heater as it eliminated the need for the high-pressure hoses that are normally used for this application.

This is part of Petrostar management's continued efforts to do independent third party testing of the ETH in different applications under different conditions, to properly commercialize the ETH to the oil and gas industry. More updates will be forthcoming as other pilot projects take place and more information on Petrostar's technologies is available at petrostarpetroleum.ca.

On behalf of the Board of Directors,

Bruce Scafe
President, Petrostar Petroleum Corp.
1-877-737-8864
1-250-710-4022 Cell
bscafe@shaw.ca  

Petrostar Pläne $ 500.000 Private Placement


2010.04.22 13.52 Uhr ET - News Release

Mr. Bruce Scafe Berichte

Petrostar bis zu $ 500.000 in FLOW RAISE durch Fonds

Petrostar Petroleum Corp plant die Ausgabe durch eine nicht vermittelte Privatplatzierung von bis zu 6.250.000 Flow-Through-Einheiten des Unternehmens zu einem Preis von acht Cent pro Einheit für eine Gesamtsumme von $ 500.000.

Jede Einheit wird aus einer Stammaktie am Kapital der Gesellschaft bestehen, und die Hälfte eines nicht übertragbaren Warrant. Jeder ganze Warrant berechtigt den Inhaber, eine weitere Stammaktie des Unternehmens für einen Zeitraum von zwei Jahren nach Ablauf der Frist zu einem Preis von 12 Cent pro Aktie im ersten Jahr und 15 Cent pro Aktie im zweiten Jahr zu erwerben.

Die Privatplatzierung unterliegt der Annahme der TSX Venture Exchange und alle ausgegebenen Aktien wird dort unter unterliegen einer viermonatigen Halteperiode.

Die Mittel werden verwendet, um weitere Explorationsarbeiten bei Petrostar-Pachtverträge, die im Südosten Saskatchewan Verlängerung der produktivsten Bakken Öl spielen, Saskatchewan und Manitoba erstreckt sich in Kanada und Montana und North Dakota in den Vereinigten Staaten befinden, zu finanzieren.  

May 10th, 2010
Category: News Releases
Petrostar Files 2009 Annual Financials


Petrostar Petroleum Corp. (TSX-Venture: PEP. Frankfurt: LMQ; “Petrostar” or the “Company”) announces it has complied with National Instrument 51-102 and filed its 2009 Annual Financials and MD&A. The documents are available for viewing at www.sedar.com.


On behalf of the board of directors and for further information:


Bruce Scafe, President
Petrostar Petroleum Corp.
1-877-737-8864  

hast Du schon etwas Neues von PEP gehört? Diese "Mitteilungsschwäche" dieser Firma geht mir so langsam auf den Keks.
Habe vor einiger Zeit mal PEP angeschrieben und als Aktionär einige Auskünfte bzgl. der Fortschritte der Vermarktung des ETH's und der DHT, sowie des Ausstosses an Öl an den Liegenschaften gefragt. Weiterhin bat ich um Auskunft, warum nicht alle Aktionäre bei einem "Private Plcement" teilnehmen können, sondern nur "ausgewählte Leute"? Auch bat ich, mehr Informationen/Sachstandsmitteilungen zu veröffentlichen.
Habe eine - in meinen Augen - sehr freche und schwammige Mail als Antwort erhalten, was mein Vertrauen in diese Firma (gerade die unverschämten Passagen) ziemlich reduziert hat (bin seit ca 2006 dabei).
Weitere Anfragen werde ich nicht mehr starten, habe keine Lust meine Zeit mit solchen Antworten zu vergeuden.
Gruß
Cliff  

Geniessen.

MfG  

Hallo!

Ich habe auch schon an Bruce Scafe geschrieben. Ich war mit der Antwort mehr als zu frieden.
Ich habe sie damals hier auch veröffentlicht.
Ich denke schon das hier noch ein wenig dauern wird, aber mit dem Wechsel in der Vorstandsebene
kommen doch regelmäßig News.
Es war schon mal schlimmer!!

finanzier: Worauf stützt Deine Gelassenheit?

Ich selber mache mir hier auch keine Sorgen, wie ihr gemerkt habt bin ich hier lange Zeit alleine mit meinen Beiträgen gewesen.

Gruß
hawkwer

Und bald übernimmt PEP die BP:  grins, nur ein Spaß !!!  

http://www.canadianinsider.com/coReport/allTransactions.php?ticker=pep  

Na dann warten wir halt noch ein bisschen länger. Mir wollte PEP über Förderquoten und ob in der Bakken Oil Play überhaupt etwas gefördert wird, oder ob es "Trockenbohrungen" waren, sowie über den Stand der DHT-Entwicklöung keine Auskunft geben.
Gruß
Cliff  

Petrostar arranges $500,000 financing


2010-06-07 14:22 ET - News Release

Mr. Bruce Scafe reports

PETROSTAR TO PROCEED WITH $500,000 FLOW THROUGH FINANCING

Petrostar Petroleum Corp. will proceed with the non-brokered private placement of up to 6.25 million flow-through units at eight cents per unit announced in Stockwatch on April 22, 2010.  

Petrostar hires AEK to help diversify energy business


2010-06-21 13:01 ET - News Release

Mr. Bruce Scafe reports

Petrostar Petroleum Corp. has contracted Allan E. Kiesler Inc. (AEK Inc.) to assist the company in diversifying its overall operations in the energy sector, with specific attention given to the overwhelming global need for the development of sustainable energy resources.

All the associates of AEK Inc. have strong backgrounds in technology commercialization and business management. The general agreement is such that AEK Inc. will be paid on a "success basis" for any joint ventures or other projects that they may introduce to Petrostar, that have been previously vetted. In return for AEK Inc.'s services, standard public company remuneration requirements will be adhered to once successful renewable energy technology introductions and negotiations have been completed. Remuneration could include a fee, as well as shares or warrants at a future date.

The Management of Petrostar Petroleum is moving forward with confidence because the Company has already been introduced to several outstanding opportunities in solar and renewable energy projects by AEK Inc. over the past several months. Management is impressed by the numerous opportunities for growth in the renewable energy sector being presented to it for evaluation by AEK Inc.


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