SOURCE: PetroSun, Inc.

May 31, 2007 09:00 ET

PetroSun Issues Corporate Updates

PHOENIX, AZ--(Marketwire - May 31, 2007) - PetroSun, Incorporated (PINKSHEETS: PSUD) announced today the following corporate updates.

PetroSun Independence Bowl

The Company has executed the Extension Agreement as the Entitlement Sponsor of the Independence Bowl through the year 2011. The 2007 PetroSun Independence Bowl will be played on December 30, 2007 at 7 pm between representatives of the Big 12 and Southeast conferences.

ESPN, the game's television partner since 1992, confirmed the announcement of the game date and time.

Corporate Information Statement and Financial Reports

The posting of an updated Information Statement and Financial Reports has been delayed for approximately one week. These documents will be available for review on Pink Sheets and the Company website at


The Company has commenced operations of its algae to biodiesel field laboratory in Opelika, Alabama.

About PetroSun

PetroSun's current oil and gas operations are concentrated in the Ark-La-Tex region with plans to expand into New Mexico, Arizona and Australia in 2007. Algae BioFuels, a wholly owned subsidiary of PetroSun, is an emerging producer of biodiesel derived from the cultivation of algae. PetroSun is headquartered in Phoenix, Arizona with field offices in Shreveport, Louisiana and Opelika, Alabama. For more information about PetroSun visit the company's website at

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

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