SOURCE: Market Pulse

May 09, 2007 08:30 ET

Market Pulse Breaking News Alert for Wednesday, May 9, 2007: PEP - Petrostar Petroleum Announces Enhanced Oil Recovery Innovative Technology Update!

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

ATLANTA, GA--(Marketwire - May 9, 2007) - Market Pulse News Alert for this AM, Stocks to Watch are: Petrostar Petroleum Corporation (TSX-V: PEP), Tubearoo Inc. (PINKSHEETS: TUBR), Exxon Mobile Corp. (NYSE: XOM) and Apple Inc. (NASDAQ: AAPL).

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 the 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 their 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 Down Hole Tool (DHT) testing proceeding and that an additional well will be targeted for testing! Investors need to go to the company's website and review this exciting technology! The company said the DHT has the potential of economically revitalizing tens of thousands of proven North American medium and heavy oil wells that have been suspended due to insufficient reservoir pressure! Investors should be watching this one closely!

Petrostar Petroleum Corporation (TSX-V: PEP) announces the field testing of its Enhanced Oil Recovery Technology or as it is currently described as its Down Hole Heating Device commenced May 2, 2007.The initial rest well A9/16 will continue for approximately 10-14 days at which time the tool will be removed from the test well and test data reviewed and evaluated. Additionally the company will test its A15/6 well to evaluate its performance and influence on the offsetting wells A14/6, A16/6 and the 1A16/6 HZ well.

During the tests the tool will be operated under several different configurations and well bore depth settings to determine the optimum placement in conjunction with well perforations, production zones, well fluid levels and wellhead pressure. Preliminary indications on a short period test were that the DHT significantly influenced the production of the surrounding well A10/6. A second test will be run to confirm this influence and quantify the resulting production increase.

The company has decided that given the initial testing on well A9/6 it will also move the Tool and test it in well A15/6 where there is more water in the well bore and daily production has higher water content. It is expected that with its proximity to the horizontal well 1A16/6 that there will also be a significant increase in its daily production. Additionally the company is immediately proceeding with the manufacture of a second DHT unit, which it hopes will be completed within the current testing time frame. The second unit, subject to completion and arrival on site will be run in tandem with the initial unit. The data will be reported as it becomes available during and after the testing is complete.

The success of the down hole tool test will be a significant milestone achieved by Petrostar as it brings the company one step closer to proving and ultimately commercializing this revolutionary enhanced oil recovery technology. The DHT has the potential of economically revitalizing tens of thousands of proven North American medium and heavy oil wells that have been suspended due to insufficient reservoir pressure. Needless to say, the opportunity of penetrating this market is substantial.

Stocks in the news and acting well as of late include: Tubearoo Inc. (PINKSHEETS: TUBR), Exxon Mobile Corp. (NYSE: XOM) and Apple Inc. (NASDAQ: AAPL).

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