SOURCE: PetroSun, Inc.

December 13, 2007 12:06 ET

PetroSun BioFuels China Appoints Exclusive Agent

SCOTTSDALE, AZ--(Marketwire - December 13, 2007) - PetroSun, Inc. (PINKSHEETS: PSUD) announced today that PetroSun BioFuels China, a wholly owned subsidiary, has executed an Exclusive Agency Agreement with Theodore Tseng Hsiung of Hang Zhou, Zhe Jiang Province, China and South Pasadena, California. Mr. Hsiung will act as the exclusive agent for the Company in the development of commercial relationships within China and Taiwan for its algal oil, biodiesel, ethanol, bioplastics and other algae derived products.

About PetroSun

PetroSun's operations include oil and gas exploration, development and production and algae-to-algal oil alternative fuels production. The oil and gas division is focused on the exploration of the Canning Basin of Western Australia and the Holbrook Basin of Arizona. The Company will continue the development of oil and gas reserves in Louisiana. The alternative fuels division is in the pre-commercial stage with its algae-to-biofuels production technology. The Company plans to establish algae farms and algal oil extraction plants in Alabama, Arizona, Louisiana, Mexico, Brazil and Australia during 2008. The algal oil product will be marketed as feedstock to existing biodiesel refiners and planned company owned refineries. PetroSun is headquartered in Scottsdale, Arizona with field offices in Shreveport, Louisiana and Opelika, Alabama. For more information about PetroSun visit the company's website at http://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
    Jim LeCrone
    480-425-4291