Petrostar/Nepco Joint Venture Agreement Terminated
August 06 2013 - 4:05PM
Access Wire
August 6, 2013 -
Vancouver, BC - Petrostar Petroleum Corporation (TSX-Venture: PEP; "Petrostar" or "the
Company") announces that it has issued a formal letter to Nepco LLC
of Cheyenne, Wyoming terminating the Joint Venture
Partnership.
The agreement
was initially announced November 12, 2012 with an extension
announced May 16, 2013. The extended deadline was set at August 1,
2013, which has now expired without the terms having been met.
With the
expiration of the deadline and no further extension having been
negotiated, the partnership with Nepco to construct and operate the
modular refineries in Alberta has been terminated.
The Company is
currently reviewing its options regarding the modular refinery
project.
About
Petrostar Petroleum Corp.
Petrostar is a Tier 2,
Canadian-based, oil and gas exploration company trading on the TSX
Venture Exchange, with property assets in Alberta and
Saskatchewan.
For further information, please contact:
Bruce Scafe, IR and Communications
Officer
Tel: 1-877-737-8864 or
bscafe@petrostarpetroleum.com
Alternate contact information:
Deanna Sauve
Corporate Compliance Officer
Tel: 604-568-4350
or info@petrostarpetroleum.com
Neither
the TSX Venture Exchange nor its Regulation Services Provided (as
that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release
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