Ist das nun ein Neubeginn? PETROSTAR PETROLEUM COR
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(via Thenewswire.ca)
TSX-V Symbol: PEP
June 14, 2012, Vancouver, BC - Petrostar Petroleum Corp. ("Petrostar" or "the Company") is pleased to announce it has received final TSXV approval for a non-brokered Private Placement announced April 20, 2012. A total of 2,310,000 units were sold at $0.05 per unit for gross proceeds of $115,500.00.
Each unit consists of one common share of the Company and one common share purchase warrant. Each warrant is exercisable at $0.10 per share for two years, expiring June 8, 2014.
The funds raised will be used exclusively for the 2011 annual financial audit, the Annual General Meeting and all expenses associated with corporate compliance such as sustaining fees and filing fees.
Finders' fees of $2,135.00 and 17,500 units will be payable.
All securities issued under this private placement are subject to a four-month hold period expiring on October 8, 2012.
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2012-06-26 19:45 ET - News Release
Mr. Bruce Scafe reports
PETROSTAR AUDITORS COMPLETE THE 2011 AUDIT
Petrostar Petroleum Corp.'s auditors have completed their audit of Petrostar's 2011 annual financials. Petrostar management is confident it will make the June 30, 2012, filing deadline.
On April 5, 2012, Petrostar applied to the B.C. Securities Commission for a management cease trade order, and the company confirms it will comply with the alternative information guidelines described in sections 4.3 and 4.4 of NP 12-203 as necessary. On April 30, 2012, the BCSC granted the MCTO. Petrostar must file its 2011 annual financials by June 30, 2012, and its first quarter 2012 financials immediately thereafter, or a full cease trade order will be issued to the company by the BCSC. At present, Petrostar is on the default list for its 2011 annual financials and its first quarter 2012 financials.
Petrostar signs definitive deal to acquire TexAlta
2012-07-09 17:49 ET - News Release
Mr. Bruce Scafe reports
PETROSTAR SUBMITS DEFINITIVE AGREEMENT TO TSXV
Petrostar Petroleum Corp. has executed a definitive agreement with the shareholders of TexAlta Industries Ltd., a private Alberta company, to acquire 100 per cent of TexAlta's issued and outstanding shares. This follows the letter of intent that was announced May 14, 2012.
The definitive agreement states that the proposed transactions between Petrostar and TexAlta's shareholders will take the form of an arm's-length asset purchase agreement pursuant to which Petrostar will issue 10 million common shares, valued at five cents per share, to TexAlta's shareholders on a pro rata basis. No finder's fee is payable.
Under the terms of the agreement, and subject to regulatory approval, Petrostar will transfer Bakken Oil Resources Inc., Petrostar's 100-per-cent-owned subsidiary, to the TexAlta shareholders. Bakken Oil holds 1,387 acres of undeveloped P&NG leases in southeastern Saskatchewan. In return, Petrostar will receive 100-per-cent ownership of TexAlta, including various mineral lands and assets. Current TexAlta management will continue as operators for these properties and oversee all future development plans for Petrostar.
Bruce Scafe, Petrostar's chief executive officer, stated: "I am very pleased that the company was able to finalize the agreement with the Texalta shareholders. The properties being acquired, the experience and expertise that Texalta management brings to the agreement is invaluable and marks a fresh beginning for the company."
Mackenzie Loree, TexAlta's CEO, stated: "On behalf of the TexAlta management and shareholders, we are pleased with the execution of the definitive agreement. We feel that the deal is within the best interests of all parties involved. This is a great opportunity to maximize shareholder value and to provide a fresh start for Petrostar and all of its stakeholders."
This transaction will not result in a change of control of Petrostar or a reverse takeover, but will require Petrostar's shareholders' approval, which will be sought at the company's upcoming annual general meeting in August, 2012.
Petrostar CFO Stafford resigns
2012-07-12 14:12 ET - News Release
Mr. Bruce Scafe reports PETROSTAR ANNOUNCES RESIGNATION OF CFO William Stafford has tendered his resignation to Petrostar Petroleum Corp. effective immediately. Mr. Stafford has been a member of the board of directors for many years and has held the position of chief financial officer for the past three years.
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
2012-10-25 07:04 ET - News Release
Mr. R.M. Loree reports
PETROSTAR SIGNS LOI FOR JOINT VENTURE IN CRUDE DISTILLATION PLANT
Petrostar Petroleum Corp. has entered into a formal letter of intent with a privately held U.S. refining company.
This joint venture will allow Petrostar to engage in a formal partnership to form a new entity in Alberta, focused on the development of modular distillation facilities. The new entity will be owned 60 per cent by the U.S.-based parent company and 40 per cent by Petrostar Petroleum. This opportunity will allow Petrostar to participate in distillation projects outside of Canada on a per-project basis. Following an executed definitive agreement, the first locations in Canada will be assessed and announced to the public.
The distillation plants consist of a single modular facility capable of distilling up to 2,500 barrels of crude per day to produce various petroleum fuels and marketable byproducts. The distillation plants can be retrofitted and expanded to process up to 10,000 barrels per day of production per single site. This technologically advanced facility will be the first of its kind in Canada. Additional information will be released as the two entities work toward a definitive agreement.
R.M. Loree, chief executive officer of Petrostar, stated: "We are proud to be in a position to bring this cutting-edge distillation technology to Canada.
"Petrostar has been presented with an extraordinary opportunity to team up with leading United States refining professionals to develop an efficient and environmentally friendly market for Canadian producers. This newly developed market will allow producers the opportunity to access sales streams, and will provide immediate relief to congested commodity trade routes. An excellent article on the obstacles that Canadian producers face is highlighted in the cover story from the Oil & Gas Inquirer, October, 2012, entitled, 'Road to Rail -- With oil pipeline constraints, trucks and trains are picking up the slack.'
"Petrostar and its new partner will be in a prime position to efficiently handle and process local feedstock to meet local demands. This opportunity will allow Petrostar to diversify its portfolio, and will be a value-added service to support its current P&NG development plans."
Mr. Bruce Scafe reports
PETROSTAR ANNOUNCES DETAILS OF THE DISTILLATION PLANTS
Petrostar Petroleum Corp. has released details regarding the building of modular crude oil distillation plants in Canada (see news release dated Oct. 25, 2012).
Licensing
The newly formed entity will submit a licence application for the construction of a 10,000 barrel per day (bbl/day) oil distillation facility (refinery). The facility will include four 2,500bbl/day skid mounted modular plants. The objective is to develop the facility over time, starting with the initial development of a single 2,500bbl/day plant followed by an expansion to a total of four plants capable of handling the 10,000bbl/day of crude oil. The entire facility will be supplied with crude oil and condensate by truck, pipeline and rail. A tank farm consisting of 84 tanks (21 per plant) will be used. The refined products will then be pumped from the tank farm to the tank trucks and tank rail cars for transportation from the site.
All Alberta Environment and ERCB licensing procedures will be adhere to, as well as Federal standards and policies. The primary focus for the licensing of the modular distillation units is the air emission certification. The licensing process of the distillation plant is limited as the plant is electrically operated and does not utilize water, steam, or instrument air.
Air Emissions per 10,000bbl/d facility: ---------------------------------- |Pollutant|Projected PTE Refinery| |--------------------------------| |PM10 |1.9 | |--------------------------------| |PM2.5 |1.9 | |--------------------------------| |SO2 |0.0601 | |--------------------------------| |NOx |5.01 | |--------------------------------| |CO |8.4 | |--------------------------------| |VOC |32.2 | |--------------------------------| |HAPs |1.01E-03 | ----------------------------------
Note: Emissions will slightly vary depending on feedstock type and quality.
Description of the process
The purpose of the distillation plant is to separate crude oil condensate, trans-mix, and other related organic liquids that are a mixture of various components, into products that are relatively uniform. Feedstock, consisting mainly of crude oil and condensate from local areas, will be delivered to the plant by common highway tank trucks. The total feed to all four plants will be a maximum of 10,000bbl per day, or 3,650,000bbl per year. The feedstock will be off-loaded via flexible stainless steel hoses that connect to the bottom of the tank trucks, and a system of above ground solid pipes and pumps. The feedstock will be pumped through this system into storage tanks.
From the storage tanks, the feedstock will be pumped through a de-salter system and then a series of heat exchangers, to increase its temperature and cool the products. The pre-heated feed will then be piped into the refinery process heater (H-103), where additional heat will be added. The feedstock exits the heater at approximately 650oF, and is pumped into bottom of an atmospheric distillation tower. At 650oF, and atmospheric pressure, most of the feedstock boils into gaseous form. As the gas rises through the tower, it cools and condenses into liquids.
The difference in temperature that various liquids condense at is used to separate the feedstock into intermediate products. The tower contains a series of trays and packing that collect the liquids as they are condensed, and removes the liquids from the tower. The lower in the tower the tray is, the heavier the liquid will be that condenses on that tray. Each tray produces what is called a "cut".
The atmospheric tower will produce the following cuts: atmospheric gas oil from the lowest trays, then diesel fuel, kerosene, and finally naphtha that will be used in commercial solvents. The naphtha cut is sent to a naphtha stabilizer and then to a naphtha treating unit in which caustic is used to remove impurities. The kerosene is also sent to a caustic treater to remove impurities.
The naphtha cut is split again in another separation tower called the naphtha splitter. This produces a light-, medium- and heavy-naphtha that are sold as petroleum spirits, and VM&P naphtha and mineral spirits.
After cooling in the heat exchangers, the products are piped into the storage tanks. From there, the products are blended with each other to give the optimum characteristics for sale, and then returned to the finished products tanks. The products are then bottom loaded to one of two loading racks (tank truck or rail car), and shipped to the customers.
The atmospheric gas oil cut will be sent to a vacuum distillation tower for additional separation. The separation principal in this tower is the same as in the atmospheric tower, except that the tower is placed under a vacuum (produced by electric powered vacuum pumps) of approximately 22Psi. Compounds that would not boil into gaseous form at atmospheric pressure do so under the vacuum. The vacuum tower and associated vacuum gas oil ("VGO") stripper will produce three cuts: light VGO, heavy VGO and bottoms. These cuts follow a similar path as the atmospheric tower products... through heat exchangers to storage tanks. A second natural gas fired refinery process heater (H-202) will add heat to the vacuum tower feed.
From the storage tanks the intermediate products are blended and pumped to the finished product tanks, then to the loading racks for shipping. The quantity and characteristics of the products will vary based on the specific feedstock used.
Die Meldung, dass Petrostar jetzt eine neue "Unter-" Firma mit dem Partner aufmacht, ist für Viele positiv, mich macht das nachdenklich.
Mal darüber nachgedacht, dass man Petrostar - da diese keine Gewinne mehr erwirtschaftet und DHT und ETH anscheinend gestorben sind - einfach "sterben" läßt???
Man kann dann mit der neuen Fa. ja weiter machen. Selbe Leute, selbe Gesichter, gleiche Entlohnung - NUR die Altaktionäre, von denen Petrostar ja die ganze Zeit sowieso nicht so viel hielt (ich erinnere an die Meldungslose Zeit; PP's aber nicht für alle Aktionäre, usw), sind dann weg.
Trau, schau, Wem!!!
Ich seh die ganze Sache nicht unbedingt nur rosa.
Mal schauen wie es weitergeht. Ruhiger, oder ruhig schlafen kann ich aber auf Grund der Meldungen nicht.
Gruß
Cliff
Schaut Euch mal ein paar CH11-Fälle an. Dann seht Ihr, wie so etwas geht.
Auch ist es möglich, eine Firma aus der Alten herauszulösen, an die Börse zu bringen und dann.......??
Gruß
Cliff
Neue PP's um die 2 Mio Can$ zu erhalten geht auch nicht. Wie viele Aktien wollen die ausgeben und wer soll die abnehmen. Ich hatte so viel Hoffnung in Petrostar und deren Entwicklungen, aber Sie haben es geschafft wirklich ALLES in den Sand zu setzen. An den DHT's hätten die geforscht (ohne ein Einziges zu verkaufen) bis das DHT 3012341 vor der Tür gestanden hätte. Alles verschlafen, jetzt gibts Fracking.
Die Führung ist und war das Letzte.
Mal sehen, wer Recht hatte/hat und ob Petro noch lange lebt oder wie so viele Andere Canadische Firmen auf einmal nicht mehr gelistet sind und keine Adresse mehr vorhanden ist.
Gruß
Cliff
(via Thenewswire.ca)
August 6, 2013 - Vancouver, BC - Petrostar Petroleum Corporation (TSX-Venture: PEP; "Petrostar" or "the Company") is pleased to announce that it will proceed with the development of Farrow Distillation Corp., independently, and will hold 100% of its common shares.
The Company is currently working on the permitting and licensing of the facility site to allow the refinery to eventually process up to 10,000bpd, with the initial stage of the plant capacity slated to process 2,500bpd. Additional capacity will be developed over the course of the project's life span.
For additional information on the project please visit www.farrowdistillationcorp.com. Updates on the facilities progress will be added periodically.
"Even with the expiration of the Nepco JV, Petrostar is undeterred in seeing its Farrow development through to production. Petrostar's intention is to use the Farrow, Alberta site as a show case facility to generate investment and shareholder interest in the projects, and present the operations they are (and have) invested in.
We maintain our devotion to corporate accountability to follow up our objectives, while limiting needless spending and overhead costs.
Farrow Distillation will be releasing news and key milestones through its parent company on an ongoing basis to keep stake holders aware of its development.
Regards,
R.M. Loree"
Symbol C : PEP
Shares Issued 44,456,488
Close 2013-11-12 C$ 0.07
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Petrostar Petroleum appoints Olsen to board
2013-11-13 12:14 ET - News Release
Mr. Mackenzie Loree reports
PETROSTAR SELECTS NEW DIRECTOR FOR APPOINTMENT
Petrostar Petroleum Corp.'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 record and demonstrated strengths to the company in such areas as:
Mobilizing project start-ups, project planning, scheduling, co-ordination 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 maneuvering;
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, Calif., and master of business administration and master of management degrees from Braniff Graduate School in Dallas, Tex.
R. Mackenzie Loree, Petrostar's chief executive officer, 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."
We seek Safe Harbor.
© 2013 Canjex Publishing Ltd. All rights reserved
LOMAC Canada Ltd. Acquisition
TSX-V Symbol: PEP
Petrostar Petroleum Corporation (“Petrostar” or “the Company”) is very pleased to announce that it has closed the acquisition of 100% of all shares in LOMAC Canada Ltd. The acquisition was previously announced as a Letter of Intent on April 30th 2014 and followed by a Definitive Agreement announced on June 4th,2014.
The non arms length acquisition was given shareholder approval at the recent AGM held on June 24th, passing with 99.82% of the votes cast in favour of completing the acquisition.
The acquisition will provide Petrostar with a multi-year lease on a tank farm/tank terminal facility which includes an ASTM quality control testing laboratory and offices located in the M.D.of Foothills, Alberta. All conditions of closing have now been finalized.
In consideration of the closing of the acquisition Petrostar will issue 5,000,000 class A voting shares and one Canadian dollar to the shareholders of LOMAC Canada.
The acquisition has received final approval from the Toronto Venture Exchange.
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 bscafe@petrostarpetroleum.com
Alternate Contact:
Mackenzie Loree, CEO
1-403-861-6779 or mloree@petrostarpetroleum.com
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.