PHOENIX, AZ / ACCESSWIRE / July 11, 2022 / PetroSun, Inc. (OTC PINK:PSUD; "PetroSun" or the "Company") announced today that it has completed a review of its helium and natural gas exploration and development program and has received approval from the Company's Board of Directors to proceed with exploratory and developmental drilling activity.
The Company, which owns leases in the Holbrook Basin of Arizona, the Four Corners Basin of Colorado and New Mexico, and the Golden Eagle Gas Field in Utah's Paradox Basin, has engaged Seidel Technologies ("Seidel") to prepare and execute the development program. Seidel will serve as the general contractor, providing engineering and project management. The Company's Head of Field Operations, Mr. Christopher Sumner, will oversee and advise Seidel in this work. Selected targets for drilling and re-completions of existing wells are located in the Holbrook Basin and the Paradox Basin.
PetroSun CEO Dr. Gerald Bailey commented that, "After dedicated effort over a number of years by the Company's Founder and Chairman of the Board, Mr. Gordon LeBlanc, Jr., the Board has approved the Company's largest exploration and development program to date. All of the selected drilling locations are prospective for helium, and the Company's Golden Eagle properties are also expected to produce natural gas. Helium is a vital element for both the energy and commercial sectors and also a strategic element for national security."
ABOUT PETROSUN, INC.
PetroSun, Inc. owns and operates significant projects prospective for helium and natural gas production in the United States. The Company holds the majority working interest in mineral leases that are variously prospective for helium and natural gas and cover over 282,000 gross acres in Arizona and New Mexico and 26,000 gross acres in the Paradox Basin of Utah. The Company trades on the OTC Pink Sheets under the symbol "PSUD".
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "ongoing", "plan", "potential", "predict", "project", "should", "will", "would", or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTCMarket.com website.
Contact:
PetroSun, Inc.
2999 North 44th Street, Suite 620
Phoenix, Arizona 85018
480-425-4290
Website: www.petrosun.us
SOURCE: PetroSun, Inc.
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