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File: PEPNR042012.pdf

                 Head Office: 908 Hillside Avenue Victoria, B.C. V8T 1Z8 Telephone:250-383-2000 Fax: 250-383-2020

                                 News Release
April 20, 2012                                                                                         TSX-V Symbol: P
--->EP

               Petrostar Announces Private Placement
Petrostar Petroleum Corp. ("Petrostar" or "the Company") is pleased to announce a non-
brokered private placement of up to 2,500,000 units at $0.05 per unit for gross proceeds of
$125,000.

Subject to regulatory approval, each unit shall consist of one common share of the Company
and one common share purchase warrant. Each warrant shall be exercisable at $0.10 per
share for a period of two years after closing. The funds raised will be used exclusively for the
2011 annual financial audit, the Annual General Meeting and all expenses associated with
corporate compliance such as sustaining fees and filing fees. A finders' fee of 7% will be
payable.

As a follow up to the Company's news release of February 28, 2012, the Company has ceased
all negotiations with the private company and will not be moving forward with that particular
deal.

Petrostar has submitted an application to the BC Securities Commission for a Management
Cease Trade Order. This application, if approved, would give the Company extra time to
complete its audit and file its annual financials, without falling under a full Cease Trade Order.

The Lashburn heavy oil and gas property is being actively marketed by the Company in an effort
to find a purchaser and subsequently settle some creditor debt currently held by the Company.

Petrostar has complied with NI 51-101 and filed its Oil and Gas Reserves Reports which can be
found on Sedar at www.sedar.com.

About Petrostar Petroleum Corp.
Petrostar is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX
Venture Exchange. The long-term objective of management is to aggressively seek properties
with high potential that can be advanced with minimum expenditures. The policy of the
Company is to lower shareholders' risk exposure to various stages of exploration by entering
into joint ventures with third parties or acquiring projects that the Company can operate as the
sole owner-operator.

For further information please contact Bruce Scafe, President / CEO at 1-877-737-8864.



Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
              Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 

File: PEPNR042012.docx

 
	

	

Head Office: 908 Hillside Avenue Victoria, B.C. V8T 1Z8  Telephone: 250-383-2000   Fax: 250-383-2020

N e w s   R e l e a s e


April 20, 2012	TSX-V Symbol:  PEP

Petrostar Announces Private Placement

Petrostar Petroleum Corp. ("Petrostar" or "the Company") is pleased to announce a non-brokered private placement of up
---> to 2,500,000 units at $0.05 per unit for gross proceeds of $125,000.  

Subject to regulatory approval, each unit shall consist of one common share of the Company and one common share purcha
--->se warrant.  Each warrant shall be exercisable at $0.10 per share for a period of two years after closing.  The funds 
--->raised will be used exclusively for the 2011 annual financial audit, the Annual General Meeting and all expenses assoc
--->iated with corporate compliance such as sustaining fees and filing fees.  A finders' fee of 7% will be payable.

As a follow up to the Company's news release of February 28, 2012, the Company has ceased all negotiations with the pr
--->ivate company and will not be moving forward with that particular deal.

Petrostar has submitted an application to the BC Securities Commission for a Management Cease Trade Order.  This appli
--->cation, if approved, would give the Company extra time to complete its audit and file its annual financials, without f
--->alling under a full Cease Trade Order.

The Lashburn heavy oil and gas property is being actively marketed by the Company in an effort to find a purchaser and
---> subsequently settle some creditor debt currently held by the Company.

Petrostar has complied with NI 51-101 and filed its Oil and Gas Reserves Reports which can be found on Sedar at www.se
--->dar.com.

About Petrostar Petroleum Corp.
Petrostar is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX Venture Exchange.  The long-te
--->rm objective of management is to aggressively seek properties with high potential that can be advanced with minimum ex
--->penditures.  The policy of the Company is to lower shareholders' risk exposure to various stages of exploration by ent
--->ering into joint ventures with third parties or acquiring projects that the Company can operate as the sole owner-oper
--->ator.

For further information please contact Bruce Scafe, President / CEO at 1-877-737-8864.




Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX 
--->Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.