PetroSun announced today that the Board of Directors has met to review the company’s operations and projects proposed for the rest of this year. It is important for any business to have both long and short term goals.
In the Oil and Gas division of the company, PetroSun will focus on its exploration program in Arizona, Western Australia and Queensland during the next six months. The Holbrook Basin of Arizona, Canning Basin EP 417 and EP 442 of Western Australia, and the ATP 626P Stitch of Queensland, Australia will be the specific targets.
In the Biofuel division, the company has scheduled to demonstrate the viable commercial option algae-to-biodiesel brings to the market place. Recent announcements of the demonstration have already generated interest in the Company and its product which has initiated discussions with several biofuel producers that could lead to sales and joint venture agreements.
In the Alternative Energy Technology division, PetroSun plans to begin the testing of the ElectraTherm Gas Pressure Reduction Generator in Louisiana. The generator uses pressure from gas wells and pipelines to create energy-free electricity.
PetroSun is also striving to further establishing its global status as it looks to expand into Australia. Its planned transaction with Icon Energy to form PetroSun BioFuels will produce and market algae biofules in the continent and potentially expand the company into other regions.
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