SOURCE: Market Pulse

November 01, 2007 08:30 ET

Market Pulse Breaking News Alert for Thursday, November 1, 2007: PEP -- Senior Engineer Joins Petrostar Petroleum and GEN-2 DHT Surface Test Deemed Successful; Drill Program Well Underway!

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Market Pulse.

ATLANTA, GA--(Marketwire - November 1, 2007) - Market Pulse News Alert for this AM, Stocks to Watch are: Petrostar Petroleum Corporation (TSX-V: PEP), China Petroleum & Chemical Corp. (NYSE: SNP), Microsoft Corp. (NASDAQ: MSFT) and WorldWater & Solar Technologies Corp. (OTCBB: WWAT).

Investors need to be watching Petrostar Petroleum Corporation (TSX-V: PEP) this AM! Petrostar Petroleum Corporation is an independent government licensed Oil & Gas Operator focused on the development of existing and proven heavy and medium crude oil assets utilizing patented and patent pending Drilling and Recovery Systems and other proprietary technology to enhance oil recovery. Petrostar pursues a balanced strategy combining production and development of Enhanced Oil Recovery technologies. Petrostar has two EOR technologies (the Vertizontal Recovery System (VRS®) and Enhanced Recovery System (ERS - Down Hole Tool < DHT >) that can be integrated with each other and to existing in-situ applications, allowing for maximum technological efficiencies. The VRS® has licensing opportunities for medium to larger sized projects that are well capitalized while the DHT has licensing opportunities for small to medium sized projects. Petrostar is 100% owner and operator of the 320-acre Maidstone Oil prospect located in Central Western Saskatchewan which includes the petroleum and natural gas rights. Currently, there are eight producing vertical wells on the Maidstone property. The company has initiated an aggressive $4 million work-over program to further develop the prospect and increase recovery volumes of the oil reserves and enhance the value of the prospect. The undiscounted cash flow for the project, based on constant oil price of $35 per barrel and capital investment in further developing the prospect of $4.0 million and project life of 30 years, is estimated at $41.5 million. Petrostar has added two horizontal wells with the approximate distance of 1,200 meters each into the reservoir and is initiating a pressure maintenance system. The initial production rate of the two horizontal wells is estimated at 250 to 300 barrels of oil per day. Petrostar also holds working interest in two leases located south of Calgary, Alberta. The Turner Valley Project and the Kew Field Oil and Gas Project are thought to be an extension of storied and prolific oil and gas field, having had historical production. Turner Valley has produced over 150 million barrels of oil and has dissipated over three trillion cubic feet of natural gas. In the process of completing the first three phases of testing the VRS®, the company has successfully tripled its production and expects production to increase significantly once phases 4 and 5 are completed. With oil futures maintaining its current price, advances Petrostar Petroleum Corporation has made in 2006 and will be making in 2007, the present and future of the company and its shareholders look very promising. Petrostar Petroleum Corporation is poised to become a significant player in the oil and gas exploration industry! Petrostar just had excellent news out in a press release before today's opening bell announcing that a senior engineer joins Petrostar and GEN-2 DHT surface test is deemed successful! The company also announced the drill program is well underway! Investors need to go to the company's website www.petrostarpetroleum.ca and review this exciting technology! This could be great news for investors!

Petrostar Petroleum Corporation (TSX-V: PEP) is pleased to announce the following developments:

--  Engagement of Mr. J. A. (Sandy) Sprinkle, P.Eng. B.Ed. to lead the
    next and subsequent stages of the Company's testing, measurement, analysis,
    and commercialization of the GEN-2 DHT;
--  Successful surface test results of the Company's GEN-2 DHT;
--  Commencement of drilling of Well A-16-T-6-48-23W3 to a depth of 516
    metres into the Waseca zone on its Maidstone property;
--  Development of plans to drill Well 08-15-048-24W3 to a depth of 545
    metres into the Waseca zone on its newly acquired Lashburn property once
    drilling of new well on its Maidstone property is completed.
    

On Mr. Sprinkles' engagement, Robert A. Sim, President of Petrostar commented, "The management recognized the need to engage someone with Mr. Sprinkle's wealth of technical, practical, academic and business experience, to allow the company the best opportunity to move the development and ultimate commercialization of the Company's GEN-2 DHT forward. His experience coupled with his contacts in the heavy oil industry, having previous employment with Husky Oil, and a pilot steam project that was the predecessor to Suncore's project will prove to be a tremendous asset for the company and its shareholders, and we are extremely pleased someone of his caliber and professional credentials has joined us."

Additionally, the results of the surface test on the GEN-2 DHT have far exceeded the Company's metrics for temperature, steam generation, and all mechanisms for control. Prototypes of the GEN-2 DHT are being delivered to the Company's production/test facility at Maidstone, Saskatchewan where they will be deployed for field testing within the next 14 days, under the direction of Mr. Sprinkle. Further to the Company's past news releases, management continues to field inquiries for deployment of its GEN-1 and GEN-2 DHT from interested parties, which are being followed up with vigor. The inquiries are from domestic and international parties, demonstrating the interest and the potential application of this enhanced oil recovery technology.

The drilling of new wells is in line with the Company's strategy to develop and improve the production of heavy oil from its assets. The target for the new well on Petrostar's Maidstone property is based on geophysical mapping derived from analysis of well log files from its Fall 2006 drill program that identified a pay zone in the Waseca formation.

The continued technical development and evolution of the DHT is considered by the management as major achievements for 2007, however, the company continues to be focused on the commercialization of the DHT and improving its daily production, especially under the current market conditions of all-time high oil prices.

More details of these technologies are available on the Petrostar web site which it is currently going to extensively update and redesign at www.petrostarpetroleum.ca.

Stocks in the news and acting well as of late include: China Petroleum & Chemical Corp. (NYSE: SNP), Microsoft Corp. (NASDAQ: MSFT) and WorldWater & Solar Technologies Corp. (OTCBB: WWAT).

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