split a variable string

I am trying to make a report drawing information from Peachtree 2004 Manufacturing. I have a field, JrnlRow.RowDescription, that contains information that is variable in length such as:
Waste Product *Batch# 1111 or Waste Clean-Up Product *Batch# 66342589-01
I need to be able to extract the information to the right of the * and just have no idea how to do it. However some products we sell are not time sensitive so the line does not include the *Batch# ______, I need to be able to extract the *Batch# _____ from those strings containing it.
what would the formula be? Do I need to make another field to contain the split information?

Check out the SUBSTRING function in SQL.