SOURCE: PetroSun, Inc.

April 19, 2007 08:30 ET

PetroSun Oil Patch Report

PHOENIX, AZ -- (MARKET WIRE) -- April 19, 2007 -- PetroSun, Incorporated (PINKSHEETS: PSUD) announced today the following updates to its Oil Patch report.

Muslow #1

Halliburton completed the Rodessa Hill acid gel frac on April 16th. The well has been flowing back frac fluid, natural gas and oil. The operator anticipates the completion of the production test and the well being in full production by April 21st. The initial production rates will be stated in the Oil Patch Report next week.

Arizona Exploration Program

PetroSun has been advised by the NZOG legal counsel of Gallagher and Kennedy that the legal work on the NZOG lease obtained by PetroSun containing 985,000 acres in Arizona and New Mexico should be completed within the next few days. The Company will announce its exploration program and schedule at that time.

The leasehold is located within the San Juan Basin of New Mexico and the Holbrook Basin of Arizona. The San Juan Basin is among the largest natural gas fields in the contiguous United States. The basin contains in excess of 300 oil and gas fields that produce from the Paleozoic, Jurassic, Cretaceous and Tertiary age reservoirs.

The Holbrook Basin of Apache County, Arizona contains former helium producing fields (Pinta Dome, Navajo Springs and East Navajo Springs) and promising indications of oil, natural gas, helium and CO2 from exploration wells drilled within the basin.

Opelika, Alabama BioFuels Pilot Plant

AL-G-BAMA has reported to PetroSun that the biofuels pilot plant should be operational within the next 4 to 6 weeks. The facility will test open and closed algae cultivation systems, algal oil extraction and refining technology prior to the installation of a full scale commercial operation in Alabama. The pilot plant will produce biodiesel derived from algae to test within the local market.

The BIOCO ultrasonic biorefinery and extraction systems that PetroSun has under a preliminary License Agreement will be utilized in the Opelika operation. This technology uses unique applications of sonochemistry to enable a new type of processing and reformation.

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