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Now, this is progress in biofuels. Soybeans & corn! Ptooey!<br>
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<a class="moz-txt-link-freetext" href="http://biz.yahoo.com/iw/080324/0378475.html?printer=1">http://biz.yahoo.com/iw/080324/0378475.html?printer=1</a><br>
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<td class="pr"><b>Press Release</b></td>
<td class="ps" align="right">Source:
PetroSun, Inc.</td>
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<p><span class="t">PetroSun Issues Algae-to-Biofuels Corporate Updates</span><br>
<span class="tt">Monday March 24, 10:48 am ET</span>
</p>
<div class="ar">SCOTTSDALE, AZ--(MARKET WIRE)--Mar 24, 2008 --
PetroSun, Inc (Other OTC:<a linkindex="11"
href="http://finance.yahoo.com/q?s=psud.pk">PSUD.PK</a> - <a
linkindex="12" href="http://finance.yahoo.com/q/h?s=psud.pk">News</a>)
announced
today the following corporate updates.
<p>The Rio Hondo, Texas algae farm will commence operations
on April 1, 2008
as PetroSun's initial commercial algae-to-biofuels facility.
The current
algae farm consists of 1,100 acres of saltwater ponds that
the Company
projects will produce a minimum of 4.4 million gallons of
algal oil and 110
million pounds of biomass on an annual basis. The Company
has dedicated 20
acres of ponds for a proposed algae derived JP8 jet fuel
research and
development program.</p>
<p>The Rio Hondo algae farm will be expanded in the future
to provide the
feedstock required by present or proposed company owned
or joint ventured
biodiesel and ethanol refineries. The Company plans to construct
or acquire
additional plants in the Gulf Coast region that are reachable
via barge up
the Mississippi River and its tributaries including the
Red River. The
previously announced Bridgeport, Alabama refinery will receive
algal oil
feedstock from this distribution program.</p>
<p>"Our business model has been focused on proving the commercial
feasibility
of the firms' algae-to-biofuels technology during the past
eighteen
months," stated Gordon LeBlanc, Jr., CEO of PetroSun. "Whether
we have
arrived at this point in time by a superior technological
approach, sheer
luck or a redneck can-do attitude, the fact remains that
microalgae can
outperform the current feedstocks utilized for conversion
to biodiesel and
ethanol, yet do not impact the consumable food markets or
fresh water
resources."</p>
<p>About PetroSun</p>
<p>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
Alabama, Arizona,
Louisiana, Mexico, Brazil and Australia 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
<a linkindex="13" href="http://www.petrosuninc.com">www.petrosuninc.com</a>.</p>
<p>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.</p>
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<i>Contact:</i>
<pre> Contact:
Investor Relations
Jim LeCrone
480-425-4291
<a linkindex="14"
href="http://www2.marketwire.com/mw/emailprcntct?id=1B038CF8B6A0B966">Email Contact</a>
</pre>
<hr align="left" size="1" width="200"><span align="left" class="ps">Source:
PetroSun, Inc.</span><br>
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