Petrostar Selects New Director for Appointment Petrostar Petroleum Corporation ("Petrostar" or the "Company") is pleased to announce that the Company'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 track record and demonstrated strengths to the Company in such areas as:
-mobilizing project start-ups, project planning, scheduling, coordination 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 manoeuvring; and
-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, California, and Master of Business Administration and Master of Management degrees from Braniff Graduate School in Dallas, Texas.
R. Mackenzie Loree, Petrostar's CEO, 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."