SOURCE: PetroSun, Inc.

November 14, 2008 09:50 ET

PetroSun BioFuels Proposes New Crop to Catfish Farmers at the Mississippi Biomass Council Meeting

More Than 80,000 Acres of Catfish Ponds Could Be Converted to Algae Farm Systems With a Potential Production Rate of 160 Million Gallons of Algal Oil Annually

SCOTTSDALE, AZ--(Marketwire - November 14, 2008) - PetroSun, Inc. (PINKSHEETS: PSUD) announced today that PetroSun BioFuels, a wholly-owned subsidiary, and Biomass Partners presented an Aquaculture Algae to Algal Oil Program at the Mississippi Biomass Council meeting held November 5th in Jackson, Mississippi. The program was attended by representatives from the Mississippi Biomass Council, Mississippi Farm Bureau Federation, 25x'25, Mississippi State University, agricultural, forestry and catfish farm owners located in Mississippi.

The PetroSun BioFuels Aquaculture Lease Program proposes to secure the surface rights of existing catfish farm ponds for the purpose of effectuating its proprietary algae-to-biofuels technology in a commercial algae farm system operation. The Aquaculture Lease Program provides the farm pond owner with an Advanced Base Rent Incentive, royalty income on a monthly basis from algal oil and algae biomass production and a potential future benefit from a carbon credit program. The Aquaculture Lease Program is subject to a qualification process.

PetroSun BioFuels and Biomass Partners have identified in excess of 80,000 acres of catfish ponds within the state of Mississippi. Based on an annual potential production rate of 2,000 gallons per acre, the existing 80,000 acres of ponds would produce 160 million gallons of algal oil annually for conversion to biodiesel. The remaining algae biomass could be processed into ethanol, animal feed, fertilizer and other products.

Interested parties may contact Terri Chiang of Biomass Partners via email at terri@biomasspartner.com or 251-978-7788 to discuss qualifications and to schedule a site visit.

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