The agreement between PetroSun and Energy Southwest covers approximately 838,870 acres of oil and gas rights in Arizona and New Mexico.
The Permian Supai, Pennsylvanian Naco and Devonian Martin will be tested for potential commercial quantities of oil, natural gas and helium. The initial test well on the Manuel Seep Prospect will be drilled to basement during the 2Q of 2010.
PetroSun is a diversified energy company with technology and operations in oil, natural gas and helium exploration, development and production, commercialization of algae-to-biofuels, microbial enhanced oil recovery and oilfield pipe and supply. The company specializes in the discovery and development of both traditional fossil fuels and renewable energy resources.
