SOURCE: PetroSun, Inc.

October 06, 2008 09:28 ET

PetroSun Completes Agreement With Biomass Partners

SCOTTSDALE, AZ--(Marketwire - October 6, 2008) - PetroSun, Inc. (PINKSHEETS: PSUD) announced today that PetroSun BioFuels, Inc., a wholly-owned subsidiary, has entered into an Agency Agreement with Biomass Partners, LLC to secure land surface rights and existing farm ponds for the purpose of effectuating its proprietary algae-to-biofuels technology. The territories outlined in the agreement are the states of Alabama, Mississippi, Louisiana and Arkansas.

Biomass Partners and PetroSun BioFuels will be offering Real Property Aquaculture Lease Agreements to qualified farm pond owners within the stated territory. The landowners will be offered a royalty income and base rent in return for the utilization of existing farm ponds or marginal acreage for the cultivation of algae and conversion to a biofuel feedstock.

Biomass Partners has full authority to identify an unlimited number of acres containing commercial farm pond operations that can be utilized for algae cultivation. Interested parties may contact Biomass Partners at terri@biomasspartner.com to discuss qualifications and to schedule site visits.

About PetroSun

PetroSun, Inc. is a diversified energy company with technology and operations in the commercialization of algae-to-biofuels, microbial enhanced oil recovery, oil and gas exploration and development and oilfield pipe and supply.

For more information about PetroSun visit the company's website at www.petrosuninc.com.

Except historical matter contained herein, matters discussed in this news release are forward-looking statements and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect the Company's business and prospects and cause actual results to differ materially from these forward-looking statements.

Contact Information

  • Contact:
    Investor Relations
    Osprey Partners
    732-292-0982
    Email Contact