SOURCE: PetroSun, Inc.

March 11, 2011 09:00 ET

PetroSun Announces Settlement Agreement

SCOTTSDALE, AZ--(Marketwire - March 11, 2011) - PetroSun, Inc. (PINKSHEETS: PSUD) announced today that a Settlement Agreement and Covenant Not to Execute has been entered into by the Independence Bowl Foundation, Inc. and the Company. This agreement, subject to its terms and conditions, will allow PetroSun to move forward with its planned exploration and other energy related operations.

About PetroSun

PetroSun, Inc. is a diversified energy company with its focus on the vertical integration of oil, natural gas and helium exploration, development and production, enhanced oil recovery, distributed energy and sustainable energy systems.

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

Except historical matters 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.

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