SOURCE: Digital Ecosystems Corp.

August 21, 2006 09:00 ET

Digital Ecosystems Changes Name to PetroHunter Energy -- Obtains New Trading Symbol: "PHUN"

DENVER, CO -- (MARKET WIRE) -- August 21, 2006 -- PetroHunter Energy Corporation (OTCBB: PHUN) (formerly (OTCBB: DGEO)), whose shares are traded on the Over-the-Counter Bulletin Board (OTC BB), will be trading under the symbol "PHUN" beginning on Monday, August 21, 2006.

In May 2006, PetroHunter Energy Corporation, formerly known as Digital Ecosystems Corp., acquired more than 85% of the stock of GSL Energy Corporation, and the business of GSL became the business of PetroHunter Energy Corporation. Subsequent to May 2006, PetroHunter Energy acquired all the remaining outstanding shares of GSL Energy.

About PetroHunter Energy Corporation

PetroHunter Energy Corporation, through the operations of its wholly owned subsidiary GSL Energy Corporation, is a global oil and gas exploration and production company with primary assets consisting of an undivided 50% working interest in oil and gas leases and related interests in various oil and natural gas prospects, including approximately 17,000 net mineral acres in the Piceance Basin of Colorado and seven million gross acres (3.5 million net acres) in the Northern Territory of Australia. In each of its principal areas of operation, the Company is obligated to pay the first $25 million of exploration and/or development costs incurred by its joint venture partner. GSL Energy Corporation was formed in June 2005 as a Maryland corporation and from May 12, 2006 completed a stock exchange by which its stockholders received more than 85% of the Company's outstanding stock and its business became the business of the Company. Subsequent to May 12, 2006, the Company acquired all the remaining outstanding shares of GSL Energy and, effective August 14, 2006, changed its name to PetroHunter Energy Corporation from Digital Ecosystems Corp. Its shares trade in the United States on the Over-the-Counter Bulletin Board (OTC BB).

Contacts:
PetroHunter Energy Corporation
Headquarters Office
1875 Lawrence Street
Suite 1400
Denver, Colorado 80202
Telephone: 303-572-8900
Facsimile: 303-572-8927

Kelly H. Nelson          Chairman and CEO
                         (801) 363-8303

Garry Lavold             President and COO
                         (303) 572-8900

Michael K. Lam           Business Development
                         (416) 303-8810

Alexander Hubbard-Ford   Business Development, Europe
                         44 79 8448 1541

Brad Long                Investor Relations
                         (360) 322-4013
                         (866) 795-3436

Investor Relations Contacts
United States            CTA Public Relations
Bevo Beaven              Vice President/General Manager
                         (303) 665-4200

United Kingdom           4C Burvale
Carina Corbett,          44 (0) 20 7907 4760 / 4761
John Carrick Smith
Forward-Looking Statements

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which PetroHunter Energy Corporation, or any of its divisions and subsidiaries, has little or no control.

Contact Information

  • Contact:
    Brad Long
    Investor Relations
    (360) 322-4013
    (866) 795-3436