SOURCE: PetroSun, Inc.

September 24, 2007 06:00 ET

PetroSun Expands Its Algae-to-Biofuels Program Into China

PHOENIX, AZ--(Marketwire - September 24, 2007) - PetroSun, Incorporated (PINKSHEETS: PSUD) announced today that the Company has formed PetroSun BioFuels China as a wholly owned subsidiary for the purpose of expanding into the Chinese alternative fuels market. PetroSun BioFuels has entered into an exclusive agreement with PetroSun BioFuels China to license its algae-to-biofuels technology for the country of China.

PetroSun BioFuels China will produce and market algae-based biodiesel and ethanol through a Joint Venture Agreement and an Exclusive Agency Agreement that will be announced within the next two weeks.

About PetroSun

PetroSun's operations include oil and gas exploration, development and production, algae-to-algal oil alternative fuels production and oilfield services. 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 of the algae-to-biofuels production technology. The Company plans to establish algae farms and algal oil extraction plants in Alabama, Arizona, Louisiana, California, Mexico and Australia during 2007/2008. The algal oil product will be marketed as feedstock to existing biodiesel refiners. The oilfield services division is in the process of upgrading our capabilities to support the exploration, development and production operations. 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:
    PetroSun, Inc.
    Investor Relations
    Email Contact
    (602)-487-6486