PSUD Petrosun Inc (PK)

PetroSun, Inc. (PINKSHEETS: PSUD) announced today that the recent meetings held in Shanghai between PetroSun and Shanghai Jun Ya Yan Technology Development Co., Ltd. resulted in the completion of an agreement to move the parties into the initial stage of the commercialization of the algae-to-biofuel industry in China.

"The joint venture with Shanghai Jun Ya Yan is an important step towards the commercialization of algae derived biofuel production on a global basis," stated Gordon LeBlanc, Jr., CEO of PetroSun, Inc. "Our commitment to the development of this technology will prove that algae is a major part of the solution to providing a viable feedstock for the production of an alternative fuel source to supplement present and future worldwide energy demands."

The parties have authorized the Qingdao National Laboratory for Marine Science and Technology to conduct algae strain studies for utilization in the commercial scaled pilot farm system. Furthermore, Shanghai Jun Ya Yan and the Town of Chen Jia Gang, County of Xiang Shui, recently entered into an Investment Agreement regarding the preliminary terms and location of an algae farm system facility.

The terms of the agreement between PetroSun and Shanghai Jun Ya Yan include a forty million dollar sole funding commitment by Shanghai Jun Ya Yan for the construction and equipping of the initial algae farm system. The profits from the algae-to-biofuel operations will be disbursed on a 50/50 basis between the parties. PetroSun China, Inc., a wholly owned subsidiary of PetroSun, Inc., will manage the field operations.

About PetroSun

PetroSun, Inc. is a diversified energy company with technology and operations in the commercialization of algae-to-biofuels, microbial enhanced oil recovery, oil and gas exploration and development and oilfield pipe and supply.

For more information about PetroSun visit the company's website at www.petrosuninc.com.

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.

Contact: Investor Relations Osprey Partners 732-292-0982 Email Contact