SOURCE: PetroSun, Inc.

April 22, 2008 10:29 ET

PetroSun Teams With SAIC on Algae-to-Jetfuel

SCOTTSDALE, AZ--(Marketwire - April 22, 2008) - PetroSun, Inc. (PINKSHEETS: PSUD) announced today the algae-to-jetfuel teaming relationship with Science Applications International Corporation (SAIC). The companies are working to transition algal biofuel technology to the commercial sector for government contracts.

PetroSun has made twenty acres of ponds available at its Rio Hondo, Texas facility for research and development related to an algae-to-jetfuel project.

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