SOURCE: PetroSun, Inc.

PetroSun, Inc.

January 08, 2010 13:28 ET

PetroSun Receives Commitment Letter From Energy Southwest

SCOTTSDALE, AZ--(Marketwire - January 8, 2010) - PetroSun, Inc. (PINKSHEETS: PSUD) announced today that Energy Southwest, LLC has notified PetroSun that it has received a firm funding commitment of $12,500,000 for Phase 1 of the Manuel Seep Prospect exploration program located within the Holbrook Basin of Apache County, Arizona. The agreement between PetroSun and Energy Southwest covers approximately 838,870 acres of oil and gas rights in Arizona and New Mexico.

The Permian Supai, Pennsylvanian Naco and Devonian Martin will be tested for potential commercial quantities of oil, natural gas and helium. The initial test well on the Manuel Seep Prospect will be drilled to basement during the 2Q of 2010.

About PetroSun

PetroSun, Inc. is a diversified energy company with technology and operations in oil, natural gas and helium exploration, development and production, commercialization of algae-to-biofuels, microbial enhanced oil recovery and oilfield pipe and supply.

For more information about PetroSun visit the company's website at

Except historical matters 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.

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