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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