Archive for the ‘PetroSun Inc. PSUD’ Category

New Oil Development and Exploration Officer Named at PetroSun (PSUD.PK)

Tuesday, November 27th, 2007

PetroSun announced today that it has chosen John F. Templin as the Executive Vice President of Oil and Gas Exploration and development for domestic and international operations. Dr. Templin will reside at the regional offices in Shreveport, Louisiana.

Dr. Templin is a Petroleum Geologists that brings 30 years of Exploration and management experience to PetroSun. He began his career at T.L James Co. where he worked as the Chief Geologists and District Manager. After that he became CEO and Chairman of the Board at Petro Sources International for sixteen years. Through this experience Dr. Templin has gained extensive knowledge of the US Gulf Coast, Arizona and Australia. His experience has also granted him with extensive understanding state of the art exploration electronics and field processing equipment. This will be a huge plus for PetroSun as Dr. Templin can use his petroleum exploration experience in other fields of exploration like that of Micro Algae a Biodiesel fuel that PetroSun does through wholly owned subsidiary Electratherm.

Not only does Dr. Templin have vast exploration experience around the world, he also has Management experience managing a number of technical and support personnel located in many remote parts of the world. CEO of PetroSun, Gordon Leblanc Jr., feels Dr. Templin brings the diversified background of international and domestic oil and gas exploration development that PetroSun needs. He went on to say that, “The oil and gas leases currently held by the Company in Arizona, New Mexico and Australia will form the foundation of Dr. Templin’s exploration program in 2008.”

PetroSun is involved in Oil and Gas Exploration and Development in Western Australia, Arizona and Louisiana. They also have an alternative fuels division through wholly owned subsidiary, Electratherm, that is currently in the pre-production phase of its Algae to Bio-Fuels program. This fuel will be marketed as feedstock to existing Bio-Diesel refiners. PetroSun markets three products and services, Drilling Completion, Exploration and Production Services Work over Services; and Pipe and Supply Services. 

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PetroSun, Inc. (PSUD.PK) Issues Update Regarding Algae-to-Biofuels Product

Tuesday, October 16th, 2007

PetroSun updated investors this morning concerning its algae-to-biofuels division. The company’s wholly owned subsidiary, PetroSun BioFuels, has been focused on pursuing feedstock supply agreements to market algal oil from its planned algae farms and algal oil extraction plants.

The company anticipates that a minimum of 180 million gallons will be produced annually from the planned facilities in Alabama, Louisiana and Arizona. Using the crude oil price of $80 a barrel, the algal oil produced would wholesale for $1.90 per gallon or 25 cents a pound. This viable example would generate $342 million in annual gross revenues.

The Company will also have the ability to produce considerable amounts of algae biomass, which could be marketed as livestock feed or processed into ethanol. PetroSun BioFuels estimated that the annual sales from biomass derived products could double the annual income of its initial algae-to-biofuels operations.

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PetroSun, Inc. (PSUD.PK) Announces Arizona Oil and Gas Exploration Transaction

Wednesday, October 10th, 2007

PetroSun announced this morning that it has signed a drilling commitment agreement on a 12,783 acre oil and gas lease located in Mohave County, Arizona. The first test well will be drilled to a minimum depth of 6,000 feet next year.

As terms of the agreement, PetroSun will be provided with a 25% carried working interest through the casing point of the first test well and on all future wells drilled under the agreement.

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PetroSun, Inc. (PSUD.PK) Updates Investment Community Regarding Corporate Activities

Tuesday, October 9th, 2007

PetroSun issued a shareholder update this morning to answer shareholder questions.

First, PetroSun announced that it has formed four subsidiaries, all of which are individually licensed with algae-to-biofuels technology. The company intends to enter into joint ventures within each respective geographical region. The joint venture partnerships will provide the capital to build algae farms and algal oil extraction plants.

Secondly, the company announced that PetroSun BioFuels and AL-G-BAMA has demonstrated their technology and will do other demonstrations in the future. PetroSun stated that the demonstrations were positive and that it expects to enter into agreements with several of the attendees.

Thirdly, PetroSun announced that it has received a gas chromatograph analysis. The report stated that a large percentage of the raw algal oil sample is comprised of C18 fatty acids with no appreciable levels of linolenic acid. The company believes the results have are favorable for biodiesel production.

Fourthly, the company stated that it will locate its initial domestic operations in Alabama, Louisiana and Arizona. The algae farms and extraction plants are expected to produce a minimum of 60 million gallons of algal oil per facility on an annual basis. PetroSun is currently looking for capital to construct these facilities through debt and/or equity.

Lastly, the company revealed plans to become a fully reporting company. PetroSun announced that its 2007 2Q financial statements will be filed by the end of October, and will be posted on Pink Sheets and its corporate website. PetroSun has been engaged in several discussions with legal counsel and other parties concerning the uplisting.

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PetroSun, Inc. (PSUD.PK) Forms New Division Focused on Biofuel Refinery

Tuesday, September 25th, 2007

PetroSun announced today that it has formed a new division, called PetroSun BioFuels Refining, to enter into 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 first Arizona refinery complex is designed to be upgraded to an annual biodiesel output of 55 million gallons. The biodiesel and ethanol will be contracted for blending and distribution throughout the Phoenix metropolitan area.

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PetroSun, Inc (PSUD.PK) Announces Agreement with Grupo Santa Maria

Tuesday, September 11th, 2007

PetroSun, Incorporated (PSUD.PK) announced today that PetroSun BioFuels Mexico, a subsidiary of PetroSun, has completed an agreement with Grupo Santa Maria to provide consulting services for its algae-to-biofuels program in Mexico. Grupo Santa Maria and PSBF Mexico have focused their initial attention in the State of Sonora, identifying potential algae farm and extraction plant sites near Hermosillo, Guaymas and Puerto Penasco.

Gordon LeBlanc, Jr., CEO of PetroSun commented “Grupo Santa Maria and its management team have extensive knowledge and relationships in Mexico that will enhance the opportunity to expand our commercial operations into Mexico in the near term. The US-Mexico border region is ideally located for our algae-to-biofuel program, as it provides all of the necessary requirements for production and an expanding alternative fuels market in the US and Mexico.”

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PetroSun, Inc. (PSUD.PK) Announces PetroSun BioFuels Brazil

Friday, September 7th, 2007

PetroSun, Inc. (PSUD.PK) Announces PetroSun BioFuels Brazil PetroSun Inccorporated announced today that the Company has formed PetroSun BioFuels Brazil to establish its algae-to-biofuel operations in Brazil. PetroSun BioFuels Brazil will enter into joint venture agreements to develop algae cultivation farms and extraction plants in Brazil to produce algal oil, algae biomass products and biodiesel.

The Brazilian government has enacted mandatory biodiesel legislation that requires a two percent biodiesel blended product effective January 1, 2008 with an escalation to five percent by 2013. The current annual ground transportation diesel consumption rate in Brazil approximates 40 billion liters of petroleum-based diesel. A two percent biodiesel blend would require 800 million liters of biodiesel per year. The wholesale market price of biodiesel in Brazil is currently eighty-five cents per liter.

The Company will be announcing the execution of the initial joint venture agreement by the end of September 2007.

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PetroSun Inc. (PSUD.PK) Looks to Breakout on 4.6% Gain

Tuesday, September 4th, 2007

Quietly over the last three weeks shares of PetroSun Inc have risen over 60% as the biofuels company continues to make advances in its sector. Recently, the company released on update on its algae-to-biofuel operation. PetroSun BioFuels, the alternative fuels division of PetroSun, has established a preliminary algal oil wholesale market price that will shadow the crude oil market price, plus transportation costs. The Company will consider volume discounts, subject to the production capacity of its algae farms.

PetroSun BioFuel’s three-year plan is to establish algae cultivation pods and extraction plants with potential lower case production capacities of 2.56 billion gallons per year. The annual gross revenue potential of 2.56 billion gallons of algal oil at $1.71 per gallon is $4.38 billion.

Currently the chart shows PetroSun Inc stock forming an Ascending Triangle pattern. This often is viewed as very bullish and can lead to a stock “breaking out” to a much higher level.

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PetroSun, Inc. (PSUD.PK) Updates Investors Regarding Biofuels Operations

Thursday, August 30th, 2007

PetroSun announced this morning that it established a wholesale market price for algal oil. The price will closely match the crude oil market price in addition to transportation costs. The company stated that it will consider giving discounts depending on the size of orders.

Soy oil’s recent market price is about $2.81, which is 64% pricier than the $1.71 a gallon that PetroSun expects to sell at if crude oil market prices are $72.00 per barrel. Algal oil doesn’t have commodity risk as crude oil, corn and soybeans do, plus it doesn’t contain any sulfur, is non-toxic, and is highly biodegradable.

While the current stated capacity of existing and planned biodiesel refineries in the United States is estimated to be 2.5 billion gallons a year by 2008, PetroSun has established a 3-year plan to build algae cultivation pods and extraction plants with the potential to produce 2.56 billion gallons per year. The annual gross revenue that could be achieved through this amount of production is valued at $4.38 billion, based on the price of $1.71 per gallon.

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PetroSun, Inc. (PSUD.PK) Expands Operations to Mexico

Thursday, August 23rd, 2007

PetroSun announced this morning that it has formed PetroSun BioFuels Mexico to expand its algae-to-biofuel operations to the State of Sonora, Mexico. The division will develop algae cultivation farms and extraction plants in Sonora and southern Arizona that can produce algal oil, algae biomass products and electricity for the Mexican and U.S. markets through joint venture agreements.

PetroSun BioFuels intends to establish one thousand algae cultivation pods to produce algal oil as feedstock for biofuel refineries within three years. A single cultivation pod could produce over 2.5 Million gallons a year based on lower case production projections. Accomplishing this milestone would give the company the capacity to produce approximately 2.56 Billion gallons of algal oil each year.

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PetroSun Inc. (PSUD.PK) to Test Drilling Rig Slated for Australia

Thursday, August 16th, 2007

PetroSun, Incorporated (PSUD.PK) announced today that the Spencer Harris 7000 drilling rig recently surveyed by ModuSpec USA will drill the Muslow #2 prior to being shipped to the Canning Basin of Western Australia. PetroSun has engaged the Australian drilling superintendent for the firm’s Lanagan A well to be present during the drilling of the Muslow #2. This will allow the Australian drilling crew to become familiar with the Spencer Harris 7000 during actual operations prior to drilling the Lanagan A.

The Muslow #2 is a 5,000 foot development well located on the 2,961 acre Muslow lease in the Caddo Pine Island Field of Caddo Parish, Louisiana. The Muslow #1 produces approximately 16 barrels of oil and 50 thousand cubic feet of gas per day from the Glen Rose formation. The Muslow #2 is scheduled to be spudded prior to the end of August. PetroSun holds a working interest position in the Muslow lease.

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PetroSun, Inc. (PSUD.PK) Updates Pink Sheets Website with Current Information

Monday, August 13th, 2007

PetroSun announced this morning that it has filed the current Information, Disclosure Statement, Quarterly Financial Report, Articles of Incorporation and Corporate By-Laws with Pink Sheets. The effort will give thousands of investors easy access to the company’s reports.

The company recently announced that it has conducted its initial algae-to-biofuel program in front of invited participants, including representatives from a Fortune 100 company and Icon Energy of Brisbane, Australia.

The CEO stated, “The purpose of these meetings is to demonstrate to potential customers that algal oil is a commercially viable alternative feedstock for the biodiesel industry. The Company intends to hold a series of these programs during August and September with biodiesel refiners and firms that are researching the use of algal oil as a potential feedstock for jet fuel production.”

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PetroSun, Inc. (PSUD.PK) Demonstrates the Importance of Algal Oil to Invited Participants

Wednesday, August 8th, 2007

PetroSun announced this morning that it has conducted its initial algae-to-biofuel program at Auburn and Opelika Alabama. The company’s subsidiary, AL-G-BAMA, assisted PetroSun in its demonstration to invited participants, including representatives from a Fortune 100 company and Icon Energy of Brisbane, Australia.

Gordon LeBlanc, Jr., CEO of PetroSun, stated, “The purpose of these meetings is to demonstrate to potential customers that algal oil is a commercially viable alternative feedstock for the biodiesel industry. The Company intends to hold a series of these programs during August and September with biodiesel refiners and firms that are researching the use of algal oil as a potential feedstock for jet fuel production.”

The company also announced that it will be filing a number of Provisional Applications with the United States Patent and Trademark Office to protect its algae cultivation system and algal oil extraction technologies.

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Petrosun, Inc. (PSUD.PK) Share Prices Increase 27.3% Monday Morning

Monday, August 6th, 2007

Earlier this morning, shares traded at $0.28 for a 27% increase above Friday’s close. The stock is currently in an upward trend as it has risen from $0.155 to $0.28 for a 81% increase in the past 6 trading days.

Petrosun is a diversified energy company specializing in the discovery and development of both traditional fossil fuels and renewable energy resources. The present and future market for oilfield services is extremely favorable as the worldwide demand for crude oil and natural gas increases each year.

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PetroSun (PSUD.PK) Shares Soar 37.5%

Tuesday, July 31st, 2007
PSUD

Shares of PetroSun, Inc climbed 37.5% today on light volume following yesterdays news that the Company has executed a Purchase Agreement with Mobile Equipment Services Company of Dewey, Oklahoma to acquire an automated top-drive drilling rig for its Arizona exploration program. The SR-35 will be remanufactured with a depth rating of 5,500 feet. PetroSun anticipates delivery within sixty days.

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PetroSun, Inc. (PSUD.PK) Executes a Purchase Agreement to Acquire Drilling Rig

Monday, July 30th, 2007

PetroSun announced that it has signed a purchase agreement with Mobile Equipment Services Company of Dewey, Oklahoma to obtain an automated top-drive drilling rig for its Arizona exploration program. The company expects the equipment to arrive in the next 60 days.

PetroSun’s Arizona exploration program includes the Holbrook Basin of Apache County, which contains former helium producing fields and has potential for oil, natural gas, helium and CO2 from exploration wells drilled within the basin.

PetroSun acquired a 985,000 acre oil and gas lease from NZOG that includes targeted exploration prospects in the Holbrook Basin of Arizona and the San Juan Basin of New Mexico. The leasehold can be viewed on the company’s website under Prospects & Projects.

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PetroSun (PSUD.PK) Retains Services of ModuSpec for Rig Survey

Wednesday, July 25th, 2007

PetroSun, Incorporated (PSUD.PK) announced today the Company has retained the services of ModuSpec USA to survey a drilling rig for deployment to the Canning Basin of Western Australia. ModuSpec will conduct a full condition survey and an acceptance inspection of the main equipment items and associated systems. A preliminary report will be issued this week to PetroSun from the Houston and Perth offices of ModuSpec. The Spencer Harris 7000 drilling rig is presently located in Oil City, Louisiana. Canning Basin is perhaps one of the last on-shore basins in the industrialized nations to contain massive reserves of oil.

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PetroSun, Inc. (PSUD.PK) Updates Investors Regarding Financial Statements

Wednesday, July 25th, 2007

PetroSun announced that it is completing the final review of its Financial Reports and Information Statement with corporate legal and accounting. The reporting periods end June 30, 2007 and will be filed with Pink Sheets by the end of July. After the process is completed, PetroSun will be a fully reporting company.

The company recently announced that it will be demonstrating its Algae-to-Biofuels technology on Monday, August 6th in Auburn, Alabama. The meetings are taking place with the purpose of showing potential customers that the conversion from algae to biofuels is possible on a commercial scale.

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PetroSun (PSUD.PK) Schedules Initial Algae-to-Biofuel Demonstration

Monday, July 23rd, 2007

PetroSun, Incorporated (PSUD.PK) announced today that the initial demonstration of its algae-to-biofuels technology has been scheduled for Monday, August 6th in Auburn, Alabama. The invitees will also visit the pilot algae farm and processing plant in Opelika, Alabama.

The purpose of the meetings will be to demonstrate to potential customers in the alternative fuels industry that the cultivation of algae, extraction of algal oil and the conversion to a biofuel are possible on a commercial scale. As the supply of feedstock for the alternative fuels industry is becoming a major issue worldwide, algae-to-biofuels may prove to be a major factor in the solution to this problem. 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. PetroSun is headquartered in Phoenix, Arizona with field offices in Shreveport, Louisiana and Opelika, Alabama.

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Petrosun Inc. (PSUD.PK) Shares climb 13.6% Friday afternoon

Friday, July 13th, 2007

Shares of PetroSun Inc. (PSUD.PK) climb over 13.6% during Friday’s trading. 190,216 shares of PSUD.PK were traded, exceeding the average volume by nearly 90,000 shares.

Yesterday, PetroSun provided a status update on various oil and gas operations. These operations include particular areas that can produce continuous amounts of gas and oil over long periods of time, while still allowing room for expansion to occur in the future.

PetroSun also informed Shareholders that a new agreement between their company and New Standard Exploration was coming into fruitation. This agreement will allow them to to finalize the drilling prognosis terms and receive initial preliminary operations for the new mine prior to the end of December 2007.

Status Report on Business Operations Issued by PetroSun, Incorporated (PSUD.PK)

Thursday, July 5th, 2007

PetroSun, Incorporated (PSUD.PK) today provided a status report update on its oil and gas operations to include:
 
Muslow #1, Caddo Parish, Louisiana

The Muslow #1 sold its initial production of approximately 180 barrels of crude oil on June 29, 2007. The well continues to produce 13-15 barrels of oil and 50-60 thousand cubic feet of gas per day. A development well will be drilled in the near future on the 2,961 acre lease.

Sibley Field, Webster Parish, Louisiana

Gross production from the Holley #1D, Burson #1 and the Connell #1 for the month of June was reported to be 1,827 mcf of gas and 21.71 barrels of oil.

Exploration Permit 417 Canning Basin, Western Australia

PetroSun and New Standard Exploration principals met last week in Scottsdale, Arizona to finalize a drilling prognosis and initiate preliminary operations for the Lanagan A test to be drilled prior to December 2007. Mark Hagan, Operations Manager and Petroleum Geologist for the PetroSun / New Standard Exploration Joint Venture will be conducting a location inspection on the Lanagan A and meeting on matters related to the Heritage Survey during mid-July.

The Lanagan A is a seismic generated prospect covering approximately 10,000 acres with potential recoverable crude oil reserves in excess of 50 million barrels. The EP 417 contains 6,300 square kilometers (approximately 1.5 million acres) within the permit boundaries.

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.

PetroSun is headquartered in Phoenix, Arizona with field offices in Shreveport, Louisiana and Opelika, Alabama.

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PetroSun, Inc. (PSUD.PK) Announces Updates on Current Oil and Gas Operations

Thursday, July 5th, 2007

The Muslow #1 has continued to produce 13-15 barrels of oil and 50-60 thousand cubic feet of gas per day, and a development well is expected to be drilled in the near future.

PetroSun also announced that the gross production from Holley #1D, Burson #1 and the Connell #1 located in Louisiana has reportedly produced 1,827 mcf of gas and 21.71 barrels of oil.

New Standard Exploration and PetroSun met last week in Arizona to finalize a drilling prognosis and initiate preliminary operations for the Lanagan A test, which is expected to be drilled before December. An inspection will be completed by the Operations Manager and Petroleum Geologist for the PetroSun / New Standard Exploration Joint Venture on the prospect.

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PetroSun, Inc. (PSUD.PK) Updates Investors on Current Algae-to-Biofuel Operations

Thursday, July 5th, 2007

PetroSun announced that its Letter of Intent’s deadline with Icon Drilling Pty, Ltd has been extended to August 11, 2007. The two companies also have agreed to include Malaysia, Indonesia, Japan and China within the geographical area provided by the License Agreement.

In addition to the extension, the company revealed that it has been in active discussions with domestic biodiesel producers to provide future delivery of algal oil as a feedstock for their refineries. The biodiesel industry must pursue a feedstock that provides a consistent supply of fuel at competitive rates compared to petroleum-based transportation fuels.

In order to fulfill this need, the Board of Directors has directed the biofuels division to focus its operations on capital expenditures on algal oil productions, which would allow the company to increase its future production and open joint venture opportunities with biodiesel refiners.

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PetroSun, Inc. (PSUD.PK) Subsidiary’s New Approach to BioDiesel Offers Many Advantages

Wednesday, July 4th, 2007

Instead of using soybeans, sunflowers or corn to produce oil, PetroSun’s Subsidiary uses microalgae to produce biodiesel. Unlike other sources, microalgae requires very low maintenance and can be sustainable in the long term.

Independent studies have proven that microalgae is capable of producing above 30 times more oil per acre than corn and soybean crops. The biodiesel produced by microalgae contains no sulfur, is non-toxic and highly biodegradable.

A significant advantage of using biodiesel for transportation is that it doesn’t require a special type of engine or modifications. As a result, biodiesel could quickly become the preferred medium for fuel in the future.

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PetroSun (PSUD.PK) Poised to Grow Rapidly in the Energy Industry

Thursday, June 28th, 2007

PetroSun (PSUD.PK) is a company poised to grow in a rapidly changing global environment. PetroSun, through subsidiaries Algae BioFuels and Electratherm, is committed to becoming leaders in the development and deployment of renewable energy sources.

The company believes the renewable energy technologies they focus on can become a sustainable natural energy source. In turn, a reduction of air and water pollution, improved soil, minimal erosion, and preservation of the eco-system, all become easily attainable.