08:19:39 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Petrostar Petroleum Corp (2)
Symbol PEP
Shares Issued 51,352,320
Close 2014-10-22 C$ 0.075
Market Cap C$ 3,851,424
Recent Sedar Documents

Petrostar investment acquires rights to DME technology

2014-10-23 09:33 ET - News Release

Mr. Mackenzie Loree reports

MAVERICK NORTHSTAR RECEIVES LICENSE EXTENSION TO INCLUDE DME TECHNOLOGY

Petrostar Petroleum Corp. investment Maverick Northstar has been granted a technology licence extension to incorporate methanol dehydration. The technology is designed to process methanol feedstock into dimethyl ether, also known as DME or methoxymethane.

The licence extension gives Maverick Northstar exclusive rights to Maverick Synfuels DME (dimethyl ether) technology for British Columbia, Alberta and Saskatchewan.

What is DME?

DME is a clean, colourless gas that is easy to liquefy and transport. It has remarkable potential for increased use as an automotive fuel, for electric power generation, and in domestic applications such as heating and cooking.

DME can be derived from many sources, including renewable materials (biomass, waste and agricultural products), and fossil fuels (natural gas and coal).

DME has been used for decades in the personal care industry (as a benign aerosol propellant), and is now increasingly being exploited for use as a clean burning alternative to LPG (liquefied petroleum gas), diesel and gasoline.

Like LPG, DME is gaseous at normal temperature and pressure, but changes to a liquid when subjected to modest pressure or cooling. This easy liquefaction makes DME easy to transport and store. This and other properties, including a high oxygen content, lack of sulphur or other noxious compounds, and ultra clean combustion, make DME a versatile and promising solution in the mixture of clean renewable and low-carbon fuels under consideration worldwide. (1)

PEP's chief executive officer R. Mackenzie Loree stated: "Petrostar Petroleum is very pleased with the developments that Maverick Northstar has made in the third quarter. The licence extension into the DME market provides a valuable market alternative for Maverick's proposed methanol developments. In the larger picture for PEP's portfolio, we are now in a position to horizontally and vertically integrate saleable product from the wellhead to final distribution. This includes TexAlta in [petroleum and natural gas] exploration and production, Maverick Northstar in natural gas and methanol processing, and Lomac Canada for logistics and commodity sourcing and marketing.

"The company's next step will be the evaluation and licensing of site-specific [gas-to-liquid] sites in conjunction with strategically located properties held by the company and its subsidiaries."

(1) Source: International DME Association

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.