SOURCE: PetroSun, Inc.

June 16, 2008 12:31 ET

PetroSun BioFuels Refining Announces Zoning Approval of Pinal County Refinery Site

SCOTTSDALE, AZ--(Marketwire - June 16, 2008) - PetroSun, Inc. (PINKSHEETS: PSUD) announced today that the Pinal County Board of Supervisors has approved the zoning of the refinery site near Coolidge, Arizona. A permit is expected to be issued for the construction of the biodiesel refinery, subject to approval of the engineering and building plans.

PetroSun BioFuels Refining, Inc., a wholly owned subsidiary, formed Coolidge Biorefinery, LLC with partner Optimum Biofuels, LLC of Gilbert, Arizona to construct and operate the biorefinery.

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 Holbrook Basin of Arizona, the San Juan Basin of New Mexico and Australian based prospects. The Company will continue the development of oil and gas reserves in Louisiana. The alternative fuels division has entered the commercial stage of its algae-to-biofuels production technology. The Company plans to establish algae farms and algal oil extraction plants in Louisiana, Texas, Arizona, Mexico and Central America 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 Rio Hondo, Texas. 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