News - CompleteOctober 6th 2011, Victoria, BC - Petrostar Petroleum Corp. (TSX-Venture: PEP, Frankfurt: LMQ; “Petrostar” or “the Company”) announces that as of October 5th 2011 immediate changes to the board of directors the Company.
Resignations
The company has received and accepted the resignations of Mr. Graham Riley, Mr. Bruce Balaz and Mr. Joshua Prowse as directors of the company. Resignations were given and accepted to facilitate the appointment of new board members. Management would like to thank the resigning directors for their service and dedication to the company as members of the board and wish them success in the future.
Appointments
The company has appointed the following three people as directors of the board.
Mr. Greg Thompson
Houston, Texas
Mr Thompson has over 30 years of diversified energy experience in the areas of oil and gas drilling, field operations, production, contracts, regulatory, marketing and transportation. Currently Mr. Thompson is President and General Manager of RiverWay Energy Services LLC. Mr. Thompson has performed on-site lease operation and has managed multiple producing wells. He has extensive experience in negotiations of Energy Plans and Agreements both Internationally and Domestically. Acted as Legislative liason for customers on Federal and State Regulatory issues. Other related achievements include implementing a streamlined pipeline and gathering system transportation design process. Mr. Thompson was educated attended Louisiana Tech and the university of New Orleans and has many professional affiliations including the National Energy Services Association and past president and director of the Louisiana Gas Association.
Mr. Sam Nastat
Mr. Sam Nastat has been involved in the natural resource capital markets sector for over 20 years. His professional experience entails oil and gas E&P as well as mineral exploration and development. Mr. Nastat dedicated in excess of 14 years of his career in oilfield project development. Also noteworthy are the many years he was engaged in running the largest placer Gold operation in the U.S. In the 1990’s, he operated the Tule Canyon Mine in Gold Point, Nevada. This kind of operational experience is a major asset to any developing operations company and gives Mr. Nastat a unique perspective on the industry. From 1991 to 1996, Mr.
Nastat worked as a consultant at Talon Trading Ltd. and was responsible for arranging the purchase of bulk crude oil shipments from the Middle East as well as negotiating and securing many oil field equipment supply contracts.
Mr. Nastat has spent the past three years acquiring leases in the Alberta Bakken Basin in Montana. The area has seen significant activity with successful wells being drilled.
Mr. Dennis Mee
Vancouver, B.C.
Mr. Mee is a Chartered Accountant being a member of both the British Columbia and Ontario Institute of Chartered Accountants. He is also a member of the F.E.I. Financial Executives Institute. Mr. Mee is the owner and president of Part Time CFO Inc., a Vancouver firm specializing in providing financial management expertise to start-up companies in both the private and public sector.
“ On behalf of the company I welcome the three new directors to the board of Petrostar. I believe the wealth of experience that these three gentlemen represent and bring to the board can only be beneficial to the future of Petrostar” Bruce Scafe CEO.
On behalf of the board of directors
Bruce Scafe , President and CEO