May 16, 2013, Vancouver, BC - Petrostar Petroleum Corp. (TSX-Venture: PEP, "Petrostar" or "the Company") is pleased to announce that it has received an offer to purchase its Lashburn heavy oil property in Saskatchewan (SE/4 15-48-24W3). A private oil and gas company out of Calgary, Alberta presented the Company with a cash offer of $110,000.
The intent to sell this property was originally voted on and approved by the shareholders of the Company at the Annual General Meeting held on July 7, 2011.
Petrostar management has accepted the offer. The sale of the property is subject to regulatory approval.