Petrostar Petroleum Corp. announced that the company and its joint venture partner, Nepco LLC have agreed to an extension of the joint venture agreement signed and announced on November 12, 2012. In order to complete all items in the original agreement, both sides have agreed to extend the time required to secure the financing from May 15, 2013 to August 1, 2013. All other terms and conditions remain unchanged. The parties desire to participate in the construction and operation of two, and possibly more, petroleum distillation facilities in Alberta, Canada. The first distillation facility will be constructed in Farrow, Alberta as announced on February 19, 2013.

Petrostar Petroleum Corp. announced that it has signed a lease option agreement for the land required for Farrow Distillation's modular refinery. This will allow site survey preparations and permit application processes to begin.

Petrostar Petroleum Corp. introduce its newly formed company, Farrow Distillation Corp., incorporated in the Province of Alberta, Canada. Farrow Distillation is Petrostar's inaugural modular distillation development project to be located in Southern Alberta. The new entity will be comprised of a joint ownership between Nepco LLC and Petrostar Petroleum Corp. Management of the new entity will include parties from both Petrostar and Nepco. These members will be disclosed at a future date.