Petrostar Petroleum Corporation: Bakken Discovery Well Cased for Production

VANCOUVER, BRITISH COLUMBIA, Jul 31 (MARKET WIRE) --
Petrostar Petroleum Corporation (TSX VENTURE: PEP)(FRANKFURT: LMQ)
("Petrostar" or the "Company") is pleased to announce a new discovery
well (A3) in an area of SE Saskatchewan not being currently drilled by
other producers.

The well encountered 19m of pay locked in a sandstone formation with
excellent porosity and good permeability. A3 is expected to flow on its
own (light oil), and may not require stimulation. The importance of this
discovery is that it was found in a sandstone formation and the Company
is confident that no water issues will need to be addressed; which is the
case with other Bakken discoveries. The Company has now moved the
drilling rig to its next location and will announce details shortly.
Petrostar will test A3 and bring it on production over the next few weeks.

The leases are located in the SE Saskatchewan extension of the prolific
Bakken oil play that covers Southern Alberta, Saskatchewan, Manitoba and
Montana & North Dakota in the USA.

The Company is continuing to locate and has acquired substantial PNG
rights to additional lands within the general area of the Bakken play and
Petrostar's general area of interest.

On behalf of the Board of Directors,

Robert A. Sim, President and Director

Safe Harbor Statement and Disclaimer:

This Press Release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Act of 1934. A statement identified by the words
"expects", "projects", "plans", and certain of the other foregoing
statements may be deemed forward-looking statements. Although Petrostar
Petroleum Corporation believes that the expectations reflected in such
forward-looking statements are reasonable, these statements involve risks
and uncertainties that may cause actual future activities and results to
be materially different from those suggested or described in this press
release. These include risks inherent in the development and production
of oil wells, including risks of fire, explosion, blowout, pipe failure,
casing collapse, unusual or unexpected formation pressures, environmental
hazards, and other operating and production risks inherent in oil
production activities, which may temporarily or permanently reduce
production or cause initial production or test results to not be
indicative of future well performance or delay the timing of sales or
completion of production operations; risks with respect to oil prices, a
material decline in which could cause the Company to delay or suspend
planned drilling operations or reduce production levels; and risks
relating to the availability of capital to fund drilling operations that
can be adversely affected by adverse drilling results, production
declines and declines in oil prices and other risk factors.

Contacts:
Petrostar Petroleum Corporation
604-662-3005, ext. 105
thorgauti@petrostarpetroleum.ca
www.petrostarpetroleum.ca

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