Company Name PetroSun	Company Web Site http://www.petrosuninc.com/	Headquarters Scottsdale, AZ
Latest News Oct 6, 2008 -- PetroSun, Inc. (Other OTC:PSUD.PK - News) announced today that PetroSun BioFuels, Inc., a wholly-owned subsidiary, has entered into an Agency Agreement with Biomass Partners, LLC to secure land surface rights and existing farm ponds for the purpose of effectuating its proprietary algae-to-biofuels technology. The territories outlined in the agreement are the states of Alabama, Mississippi, Louisiana and Arkansas. Biomass Partners and PetroSun BioFuels will be offering Real Property Aquaculture Lease Agreements to qualified farm pond owners within the stated territory. The landowners will be offered a royalty income and base rent in return for the utilization of existing farm ponds or marginal acreage for the cultivation of algae and conversion to a biofuel feedstock. Biomass Partners has full authority to identify an unlimited number of acres containing commercial farm pond operations that can be utilized for algae cultivation. Interested parties may contact Biomass Partners at terri@biomasspartner.com to discuss qualifications and to schedule site visits. --------------------- Sep 29, 2008 -- PetroSun, Inc. (Other OTC:PSUD.PK - News) announced today that the Company has executed an agreement with Shanghai Jun Ya Yan Technology Development Co., Ltd. to establish a commercial scale algae farm system pilot facility within the People's Republic of China. The planned algae farm complex will produce algae biomass for conversion to biodiesel, ethanol and other commercial products. The terms of the agreement include a forty million dollar ($40,000,000US) sole funding commitment from Shanghai Jun Ya Yan Technology Development for the construction and equipping of the initial algae farm system. The profits from the venture will be allocated on a 50/50 basis between the parties. PetroSun China has been granted the license from PetroSun, Inc. for the algae-to-biofuel technology and will manage the operations in China. ------------------------- Sep 9, 2008 -- PetroSun, Inc. (Other OTC:PSUD.PK - News) announced today the following updates of corporate activities related to its algae-to-biofuel technology and filing of financial statements. The Company has been engaged in negotiations to enter into a Chinese-Foreign Cooperative Enterprise or Sino-Foreign Joint Venture for the purpose of acquiring funding and the establishment of algae farm-biofuel systems within the People's Republic of China. The Company has planned site visits of potential farm and plant locations near Shanghai commencing October 7th. PetroSun will be establishing offices in Shanghai and Beijing to support the initial commercial scaled algae farm system and pilot plant operations during this trip. PetroSun's operations include oil and gas exploration, development, production, oilfield tubular sales and algae-to-algal oil alternative biofuel production. The oil and gas division is focused on the exploration of the Holbrook Basin of Arizona, the San Juan Basin of New Mexico, Australian-based prospects and the development of oil and gas reserves in Louisiana. PetroSun Oilfield, a wholly owned subsidiary, is engaged in the importing of tubing and casing from China for marketing and distribution within the US market. 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 Louisiana, Texas, Arizona, Mexico and Central America 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.
Funding No additional funding information.
Technology No additional technology information.
Other Info From altenergystocks.com (March 2008) There are two basic approaches to growing algae: open pond and closed reactor. The open pond method, which is what Petrosun Drilling (OTC:PSUD) recently announced they are pursuing, involves growing the algae in open ponds of water, much like it grows in nature. Open ponds are clearly quite cheap, but they require a reliable supply of water to replenish that lost from evaporation (making them impractical in all but the wettest parts of the country (Petrosun's first farm will be on the Texas coast, and use saltwater, which helps with this problem.) The lack of temperature and weather control can further decrease yields from the theoretical potential. The other problem with open ponds is that it is impossible to keep other types of algae (a.k.a. weeds) out, meaning that high percentages of oil in the final crop will be impossible to attain. This means that biofuel produced from pond algae will require much more extensive processing to be turned into fuel. It's easy to grow pond scum, but turning it into something useful is harder. The other option is the algae bioreactor, one type of which (from Solix biofuels) was referenced in the chart above. The Solix technology uses closed plastic bags agitated by rollers, has climate control with the use of controlled radiative cooling, and uses concentrated carbon dioxide emissions to enhance algal growth. To me the bioreactor approach (Solix's technology is only one version) seems most likely to achieve the promise of extremely high yields, and even that is not without problems. Large scale bioreactors are complex systems. As such, they will be expensive and take great efforts to move from the lab to commercial scale. Ken Regelson, the author of the chart above, and he believes that Solix does not have "a prayer of achieving their expected yields per acre" but that he used the number from Solix because he has yet to get authoritative numbers from anyone else. What about Petrosun? I wrote this article because readers wanted to know about Petrosun Drilling (OTC:PSUD), an oil exploration company that has been promoting their algae biodiesel efforts since September. Other than Petrosun, the only public companies I know of which are seriously looking into algae based biodiesel are large conglomerates: Boeing (BA), Chevron (CVX), Royal Dutch Shell (RDS-A) and Honeywell (HON), which can take the long view and have large research budgets to finance their efforts for as long as it takes. If you click through the company names to the news stories, you will note the common theme: These are all research stage projects. Petrosun has not filed even an unaudited quarterly report since March 2007. Given that it is also promoting exciting technology, I detect the whiff of snake oil salesmen. Although readers are clearly interested in this company, until they begin to file current information, I don't consider it worth my time to investigate further. Petrosun's main product is much more likely to be snake oil than algae oil. Even if Petrosun does execute on its algae farms, will there be any first mover advantage? It seems unlikely to me; growing algae in open saltwater ponds will depend on access to suitable land near coastlines... later entrants who can acquire suitable land should be able to produce algae just as efficiently as Petrosun, since they do not seem to have any special technology or expertise. After all, the company is simply an unsuccessful oil exploration company with a algae farm division.