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Hello Mr. .......



I will answer your questions as best I can.



1. Petrostar’s Financial Situation - Petrostar has a accumulated debt of $1 million which was caused by previous management when they drilled wells in SE Saskatchewan without having proper financing in place to do the work. Over the last year my new team has been reviewing the whole operation and trimming expenses as much as possible . We have cash flow every month from heavy oil sales from our Maidstone field. Every month we do mange to pay down some of the debt but we will need increased production or a financing to clear this debt.

2. We believe that part of increasing our cash flow will come from sales of our ETH. We have just hired a distribution company to handle the ETH and DHT . We also are negotiating with a new manufacturing company to handle the manufacturing of the ETH. So yes we think we have a viable product here but again previous management had not taken some of the necessary steps to get a new product commercialized. We have now completed these steps and going ahead.

3. Petrostar has signed a contract with Allan A. Kaisler Inc. to research and bring new projects in alternative energy field to Petrostar. We are currently signed two LOI’s from this work and are moving forward to signing contracts with these new company ies.

4. Work in SE Saskatchewan( Bakken) is about to get going again. We have plans to go back and test new zones in previous wells drilled in 2008 . We also have plans which we have in front of potential financiers right now for a new multi well drill program.

5. All the old management of the company after the last AGM in June is no longer with the company, There is a new team that is very positive group with experience to move this company into a profitable future.

6. There will be news as these things develop, but I will not put out news just for the sake of having news, it has to has to be material and substantial.





Petrostar has gone through a very difficult period and the company was in bad shape at a very difficult time in the market for companies. What this team has done is keep the company going over this time, we have trimmed cost and are working on very thin budgets, and have now put the company in the position to move forward and grow. Debt is manageable aand we see our future in new oil production from the Bakken, sales of our ETH over the next six months and new projects in alternative energy sector to further diversify the company. I know it is difficult to think about buying shares in a company that has disappointed its shareholders over the last 2 years , that being said the company is still here and now could be exactly the right time to add to a position.



I appreciate shareholders like yourself who do take the time to ask some questions and welcome the opportunity to answer those questions.





Bruce Scafe

President/CEO

Petrostar Petroleum Corp.

1-250-597-3628 Personal Office

1-250-710-4022 Cell
 
aus der Diskussion: PETROSTAR PETROLEUM ---- Unentdeckter Ölexplorer
Autor (Datum des Eintrages): hawkwer  (12.08.10 08:00:17)
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