SOURCE: Market Pulse

June 12, 2007 08:30 ET

Market Pulse Breaking News Alert for Tuesday, June 12, 2007: PEP - Petrostar Petroleum Reports on Its Enhanced Oil Recovery Technology Project Update!

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

ATLANTA, GA--(Marketwire - June 12, 2007) - Market Pulse News Alert for this AM, Stocks to Watch are: Petrostar Petroleum Corporation (TSX-V: PEP), Medivation Inc. (NASDAQ: MDVN), Neurochem Inc. (NASDAQ: NRMX) and Celsius Holdings Inc. (OTCBB: CSUH).

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 in addition to increasing well production by up to 600%, its proprietary down-hole heating device (DHT) has significant and secondary application potential as a replacement to current production tank heating systems otherwise known as propane or gas fired tank heaters (burners)! Investors need to go to the company's website www.petrostarpetroleum.ca and review this exciting technology! The company believes it can deliver the DHT at a cost that can effectively and economically increase the production of tens of thousands of proven North American medium and heavy oil wells! Investors should be watching this one closely!

Petrostar Petroleum Corporation (TSX-V: PEP) announces that in addition to increasing well production by up to 600%, its proprietary down-hole heating device(DHT) has significant and secondary application potential as a replacement to current production tank heating systems otherwise known as propane or gas fired tank heaters(burners). Current heaters are used to heat the tank oil and maintain it at approximately 70 degrees C which is a significant operating cost especially during colder months. In addition to the operating costs, the burner system emits potentially harmful CO2 emissions. Petrostar's improved electric tank heater (ETH) will lower operating costs by reducing consumption of fossil fuels. Additionally, the improved ETH is not only more economical then the current system but more importantly, it emits ZERO CO2 EMMISSIONS. This would be a major development to help Canada's oil industry meet or surpass the standards put forth by the KYOTO ACCORD. The company plans on approaching the regulatory agencies to discuss implementing a program that if endorsed, could offer producers an incentive to change. The company plans to initiate a test on 1 of its tanks as soon as it can complete fabrication of the equipment.

Enhanced Oil Recovery Update

Field testing of Petrostar's proprietary DHT on its 15/6 is underway and will continue for the next few weeks. Test results previously announced on well 9/6 resulted in a 600% fluid production increase over the testing period.

The testing will be carried out by its new prototype design which will increase down-hole temperatures to approximately 225° C and time to achieve said temperature and allowing maintenance of said temperature for longer periods of time. In addition, the placement of the DHT and water injection have been refined by incorporating new sensors that allow it to maintain steam and deliver heat and pressure to the production zone. These refinements should enable the DHT to be effective not only in heavier oil but lighter oil where waxing is a production problem. Currently the oil industry uses a system whereby oil is heated on surface then pumped down the well casing where it temporarily reduces the waxing problem. The DHT will create a constant temperature at the formation level and provide a longer term solution. A major oil and gas producer has made inquiries to the Company in regards to its wells in southeastern Saskatchewan where waxing is a prominent problem with CO2 injection fields. Petrostar's oil field superintendent feels this could be a major breakthrough for the oil industry and at a very significant cost saving.

The success of the down-hole tool test is viewed as a significant milestone achieved by Petrostar and it brings the Company closer to commercializing this revolutionary enhanced oil recovery technology. The Company believes it can deliver the DHT at a cost that can effectively and economically increase the production of tens of thousands of proven North American medium and heavy oil wells. Needless to say, the opportunity of penetrating this market is substantial. More details of these technologies are available on the Petrostar web site at www.petrostarpetroleum.ca.

Stocks in the news and acting well as of late include: Medivation Inc. (NASDAQ: MDVN), Neurochem Inc. (NASDAQ: NRMX) and Celsius Holdings Inc. (OTCBB: CSUH).

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