SOURCE: PetroSun, Inc.

March 30, 2007 11:29 ET

PetroSun Oil Patch Report

PHOENIX, AZ -- (MARKET WIRE) -- March 30, 2007 -- PetroSun, Incorporated (PINKSHEETS: PSUD) announced today the following update to its Oil Patch report.

Muslow #1

The Muslow #1 was perforated in the Rodessa Hill section on March 29, 2007. The initial completion report on March 30th indicated a shut-in pressure reading of 1,000 psi, gas was flared and small amount of crude oil was recovered. The Rodessa Dees section will be perforated early next week to be followed with an acid frac across the productive Rodessa intervals.

Sibley Field

PetroSun has received the initial oil and gas production payments from its acquisition of the ALM Trust interests located in the Sibley Field of Webster Parish, Louisiana.

Arizona Exploration Program

The Arizona exploration program has been delayed until the leasehold title opinions are completed. The Company anticipates that field operations will commence during April 2007.

About PetroSun

PetroSun's current oil and gas operations are concentrated in the Ark-La-Tex region with plans to expand into New Mexico, Arizona and Australia in 2007. Algae BioFuels, a wholly owned subsidiary of PetroSun, is an emerging producer of biodiesel derived from the cultivation of algae. The Company's cutting-edge technologies, combined with a proven ability to apply them effectively and safely within a disciplined framework, create long-term value for PetroSun shareholders and partners. PetroSun is headquartered in Phoenix, 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