PHOENIX, AZ -- 09/25/07 --
PetroSun, Incorporated (PINKSHEETS: PSUD)
announced today that the Company has formed PetroSun BioFuels Refining to
participate in a joint venture that will construct and operate a biofuels
refinery in Arizona. PetroSun BioFuels will provide the algal oil feedstock
from its planned Arizona algae farms and extraction plants. The initial
Arizona refinery complex is designed to be upgraded to an annual biodiesel
output of 55 million gallons. Ethanol will be produced from the remaining
algae biomass.
The biodiesel and ethanol will be contracted for blending and distribution
into the Phoenix metropolitan area.
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:
PetroSun, Inc.
Investor Relations
Email Contact
(602)-487-6486
