PetroSun Schedules Exploration Project in Arizona
PetroSun Drilling has acquired a 25 percent working interest in the Pinta Dome Field located in Apache County, Arizona. Bengal Drilling, a subsidiary of PetroSun, is contracted to drill the initial test well during July 2006 to a depth of 2,800 feet.
"New Mexico, Arizona and Utah are targeted markets for PetroSun," said L. Rayfield Wright, president of PetroSun. "The region provides the company with mature and developing oil and gas fields for our oilfield service operations, and exploration and production opportunities."
The Pinta Dome Field was discovered in 1956 and produced 6.5 billion cubic feet of helium from the Permian Supai at 1,100 feet until abandoned in 1977. PetroSun and its joint venture partners will drill the basement test to confirm the oil and gas potential of the deeper formations at Pinta Dome and pressure test the Permian Supai for recoverable helium reserves. The Dineh-Bi-Keyah Field north of Pinta Dome on the Navajo Nation of Apache County has produced in excess 18.3 million barrels of crude oil.
PetroSun's current operations are concentrated in the Ark-La-Tex
region with plans to expand into New Mexico, Arizona, Utah and
Australia in 2006. PetroSun provides a comprehensive array of products
and services to the oil industry. The company's cutting-edge
technologies, combined with a proven ability to apply them effectively
and safely within a disciplined ROI framework, creates long-term value
for PetroSun shareholders and partners. PetroSun is headquartered in
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