Mr. Bruce Scafe reports
PETROSTAR UPDATES SHAREHOLDERS
Prior to the start of trading this morning (May 11, 2011), the BritishColumbia Securities Commission issued a cease trade order for PetrostarPetroleum Corp.'s shares. The CTO was issued due the company failing tofile its audited annual financials and annual MD&A (managementdiscussion and analysis) by the May 2, 2011, filing deadline.
Management has been in contact with the BCSC and is working to rectifythe problem as quickly as possible. Management is also in daily contactwith the company's auditor, BDO Dunwoody of Vancouver, B.C., and willfile all necessary documentations as soon as they are completed. Onceall documentation is filed and all filing fees are paid, trading isexpected to resume.