RE: NewsVANCOUVER, BRITISH COLUMBIA, Oct 05, 2006 (MARKET WIRE via COMTEX News Network) --
Petrostar Petroleum Corporation (TSX VENTURE: PEP) is pleased to report Ensign Tricity Rig. No. 45 is now completely set up and ready to commence the first phase of the Company's drill program on its Maidstone property.
Robert A. Sim, President of Petrostar Petroleum Corp., commented "though we have had challenges with the rainy conditions over the past 2 weeks in the area that have delayed moving and setting up the rigs, we are excited to finally be in a position to commence the actual drilling on our Maidstone property."
Under the supervision of Pajak Engineering Ltd. of Calgary, AB, the drilling of a vertical stratigraphic test well in D16-06-48-23W3 to a depth of 575 meters will commence immediately. Once the stratigraphic test well drilling process has been completed, a Horizontal production well will be drilled. The horizontal well will initiate from a plug-back in the vertical well and drilled at a depth of approximately 500 meters in the McLaren reservoir and extended horizontally for approximately 1300 meters and terminate in C13-06-48-23W3, 100 meters from the west lease boundary. The rig will then move location to A16-06-48-23W3 and commence a 1300 meter injection well and terminate in C12-06-48-23W3, 100 meters from the west lease boundary
The Company has also filed a licence application to drill a horizontal well from location D9-06-48-23W3 which will terminate in B12-06-48-23W3, 100 meters from the west lease boundary. This well will be drilled in close proximity to existing vertical wellbores, A12-6, A11-6, A10-6 and A9-6 and provide a conduit for production fluids which is the basis for the patented Vertizontal Recovery System(TM) (www.vertizontalenergy.com).
Additionally, as a follow up to the news release of September 12, 2006 outlining plans for the testing of the Enhanced Recovery System(TM) (ERS), the Company is pleased to announce it is on target with the timelines it established. A tank test will be conducted on October 7, 2006 at the fabrication plant in Richmond, BC. Thereafter the DHT unit will be shipped to the Company's base in Red Deer Alberta in preparation for field deployment. To reiterate the Company's commitments made in its September 12, 2006 news release, the Company fully expects to commence testing of the ERS by mid-November on its A9-06-48-23W3 well. Furthermore, the Company is actively exploring opportunities to test the ERS technology on other candidate wells and properties.
ON BEHALF OF THE BOARD OF DIRECTORS
Robert A. Sim
This press release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of failure to complete the proposed financing, failure to obtain necessary regulatory or shareholder approvals, exploration and other risk factors beyond its control and actual results may differ materially from the expected results.
The Toronto Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Petrostar Petroleum Corporation Robert A. Sim Director 604-662-3004 ext. 105 604-662-3063 (FAX) www.petrostarpetroleum.ca
SOURCE: Petrostar Petroleum Corporation
https://www.petrostarpetroleum.ca
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