PetroSun to Commence Operations on Its Manuel Seep Prospect in Arizona
14 November 2008 - 3:01AM
Marketwired
PetroSun, Inc. (PINKSHEETS: PSUD) announced today that the oil and
gas division of the company will commence drilling operations on
the Manuel Seep Prospect upon the receipt of a permit to drill,
completion of site location and arrival of the drilling rig. The
Manuel Seep Prospect is located in the Holbrook Basin of Apache
County, Arizona. PetroSun maintains oil and gas rights to 985,000
plus acres in the Holbrook Basin of Arizona and the San Juan Basin
of New Mexico.
The initial well on the Manuel Seep Prospect has a projected
total depth of 4,800 feet and will test all prospective oil, gas or
helium zones encountered to basement. The primary reservoir targets
will be formations within the Permian, Pennsylvanian and Devonian
series. PetroSun has received a letter of interest from Praxair to
process potential commercial quantities of helium produced from our
leasehold in Arizona and New Mexico.
Information on the Manuel Seep Prospect, including operations
status, will be posted on our corporate website at
www.petrosuninc.com. Daily reports on the progress of the well and
live video feeds of the operations will be provided on our website
following the arrival of the drilling rig to the location.
About PetroSun
PetroSun, Inc. is a diversified energy company with technology
and operations in the commercialization of algae-to-biofuels,
microbial enhanced oil recovery, oil and gas exploration and
development and oilfield pipe and supply. 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: Investor Relations Osprey Partners 732-292-0982 Email
Contact
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