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PEP - Petrostar Petroleum (TSXV)

post #1 of 13
Thread Starter 
This one is interesting. It has patent pending heavy oil extraction technology and it seems to work very well. Doing tests on its Maidenstone properties in Saskatchewan but also doing test on ground contiguous to DLL (Deloro Resources)
post #2 of 13
Thread Starter 
kept accumulating this one from 21 to 23 through past weeks. now 27.5
post #3 of 13
There seems to be building interest in CO2 reduction lol, will there be any updates on their progress soon? I have emailed the company on testing timeline.
post #4 of 13

PEP - Petrostar - Anyone playing this one?

Petrostar Petroleum Corporation: Letter of Intent Signed to Develop Bakken Oil Play in SE Saskatchewan
6/3/2008 7:01:34 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Jun 03, 2008 (MARKET WIRE via COMTEX News Network) --
Petrostar Petroleum Corporation (TSX VENTURE: PEP)(FRANKFURT: LMQ), the "Company" or "Petrostar") announces the following new venture:

The Company is pleased to announce that it has entered into a Letter of Intent with Leaf & Stone Resonance Services Ltd.(L&SRS) of Saskatoon, SK to develop certain leaseholds acquired by L&SRS located in SE Saskatchewan. The leases will cover up to 12 quarter sections of freehold lands that have been acquired.

The area to be developed has two potential oil bearing zones; the Frobisher at a depth of approximately 500m and the Bakken at a depth of 1,100m - 1400m.

Under the terms of the agreement Petrostar will be the operator and provide up to $250,000.00 in drilling funds which matches the technical and mineral rights acquisition costs provided by L&SRS. All future costs will be shared on an equal 50/50 basis.

It is planned to initiate a 3-well drilling program, which will commence as soon as permitting and establishment of surface lease requirements for the well site are received. The initial well is to be the 1st of a potential 3-well program designated for the project.

Petrostar is the operator of the project and has retained DJ Craven Oilfield Consultants to supervise and assemble equipment and services to prepare for spudding of the first well. At this time, the intent is to drill the 3 wells consecutively while the services and equipment is readily available.

The parties will also continue to locate and acquire additional lands within the general area of the Bakken play under the same terms and conditions. More developments will be forthcoming as the project proceeds. Inquiries can be made to Mr. Thor Gauti, Director of Corporate Information Services at 1-250-748-3786 or at the corporate web site: www.petrostarpetroleum.ca.

On behalf of the Board of Directors,

Robert A. Sim

President and Director
post #5 of 13
Bumped!!!

RSI has just crossed over into the sweet zone above 70, lots of buyers kicking around. Once the applications have been granted and approved (Expected by June 30th) this stock should find new highs rather easily, and further discoveries seem promising at this point. Heres a PR from Tuesday.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2008) - Petrostar Petroleum Corp. announces that it has finalized its agreement with its Joint-Venture partner on leases that are located in the Bakken Oil Play, in SE Saskatchewan.

Petrostar will drill three initial wells in what we believe are three new pools of Bakken Oil in SE Saskatchewan.

Upon the success of each of these wells, the joint venture will be expanded to nine or more additional wells to develop these three pools and any additional pools that can be identified.

The drilling locations have been surveyed and permitting applications submitted, which are anticipated to be approved on or before June 30, 2008. Petrostar, as operator, has contracted the services of Terroco Drilling Ltd. for a drilling rig and other ancillary services to initiate drilling as soon as the permits are received.

The leases 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.

The parties will continue to locate and acquire additional lands within the general area of the Bakken play.

On behalf of the Board of Directors,

Robert A. Sim, President and Director
post #6 of 13
Petrostar Petroleum Corporation: Bakken Discovery Well Cased for Production
7/31/2008 7:01:05 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Jul 31, 2008 (MARKET WIRE via COMTEX News Network) --
Petrostar Petroleum Corporation (TSX VENTURE: PEP)(FRANKFURT: LMQ) ("Petrostar" or the "Company") is pleased to announce a new discovery well (A3) in an area of SE Saskatchewan not being currently drilled by other producers.

The well encountered 19m of pay locked in a sandstone formation with excellent porosity and good permeability. A3 is expected to flow on its own (light oil), and may not require stimulation. The importance of this discovery is that it was found in a sandstone formation and the Company is confident that no water issues will need to be addressed; which is the case with other Bakken discoveries. The Company has now moved the drilling rig to its next location and will announce details shortly. Petrostar will test A3 and bring it on production over the next few weeks.

The leases are located in the SE Saskatchewan extension of the prolific Bakken oil play that covers Southern Alberta, Saskatchewan, Manitoba and Montana & North Dakota in the USA.

The Company is continuing to locate and has acquired substantial PNG rights to additional lands within the general area of the Bakken play and Petrostar's general area of interest.

On behalf of the Board of Directors,

Robert A. Sim, President and Director
post #7 of 13
Petrostar: Bakken Play Yields Second Discovery Well
8/7/2008 7:01:34 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Aug 07, 2008 (MARKET WIRE via COMTEX News Network) --
Petrostar Petroleum Corporation (TSX VENTURE: PEP)(FRANKFURT: LMQ) "Petrostar" or the "Company") is pleased to announce a new discovery well (A5) in an area of SE Saskatchewan currently not being drilled by other producers.

The well encountered 20+m of pay in a sand formation with excellent porosity (15-30%) and good permeability. This sand zone is in the Mississippian Group of Sands.

The Company is now preparing its next drill location and will announce details shortly. Petrostar will test the A5 and, upon successful testing, proceed with production over the next few weeks.

The A3 well logs have been further analyzed and there are now 2 significant shows of oil. There is a 14+m pay zone that corresponds to the A5 well's zone, and another shallower zone with 10+m of pay that may be lighter oil.

The Company is now evaluating the testing and production of these 2 zones in the A3 well.

The leases are located in the SE Saskatchewan extension of the prolific Bakken oil play that covers Southern Alberta, Saskatchewan, & Manitoba in Canada and Montana & North Dakota in the USA.

The Company is continuing to locate and has acquired substantial PNG rights to additional lands within the general area of the Bakken play and Petrostar's general area of interest.

On behalf of the Board of Directors,

Robert A. Sim, President and Director
post #8 of 13
4 million shares traded up 23% to .64....the way its trading looks like more good news could be on the horizon.
post #9 of 13
News is spreading of the discovery... there was a clipit of the story in the Regina Leader Post business page yesterday
post #10 of 13
Petrostar closes $106,500 financing, plans ETH projects


2010-01-11 14:55 ET - News Release

Mr. Bruce Scafe reports

PRIVATE PLACEMENT COMPLETED & 2 DHT PROJECTS UNDER REVIEW & 2 ETH PROJECTS PENDING

Petrostar Petroleum Corp. is currently reviewing two potential DHT pilot installations located within heavy-oil projects existing in the southern United States. One is 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 well bore and optimize the amount of heat required, including sizing the optimum BTU (British thermal unit) 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 two major oil companies to test two ETH units in two 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, an ETH unit will be installed and tested in an active drilling environment to heat water and drilling fluids before circulation downhole 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
post #11 of 13
news getting some attention ... the .11 cent paper just taken out.

Close at .12
post #12 of 13
Petrostar Receives United States Patent for its ETH Zero CO² Technology


2:59 PM ET, January 27, 2010


Jan 27, 2010 (TheNewswire.ca via COMTEX) -- (via Thenewswire.ca)

Petrostar Petroleum Corporation (PEP) announces that on November 24, 2009 it received, from the United States Patent Office, US Patent #D604,815 , for its proprietary ETH (Electric Tank Heater) technology.

The ETH 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 has entered into a joint pilot project to test and evaluate Company's Electric Tank Heater. More details are expected to be available shortly as the testing continues and field data is compiled and results analyzed.
post #13 of 13

nice today, is 61 the bottom?

 

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