SOURCE: PetroSun, Inc.

June 09, 2008 14:45 ET

PetroSun Consolidates Oilfield Services

SCOTTSDALE, AZ--(Marketwire - June 9, 2008) - PetroSun, Inc. (PINKSHEETS: PSUD) announced today that the Company has formed PetroSun Oilfield, Incorporated as a wholly owned subsidiary to consolidate all of its oilfield service and supply operations. PetroSun Oilfield will be headquartered in Shreveport, Louisiana.

The initial operations of this newly formed subsidiary will focus on oilfield tubulars, supplying seamless tubing and casing to company projects and the Ark-La-Tex market. The recent Haynesville Shale activity in northwest Louisiana has increased demand for all oilfield-related goods and services. PetroSun Oilfield will be centrally located with yards in Oil City and a soon-to-be-announced location south of Shreveport.

Gordon LeBlanc, Jr., CEO of PetroSun, Inc., commented, "My recent business trip to China resulted in agreements to procure large quantities of top-quality seamless tubing and casing. We are in the process of placing an initial purchase order for 150,000 feet of pipe for delivery into Houston."

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