PetroSun Participant in Louisiana Exploration Project
PetroSun has entered into an agreement with Wilcox Operating Corporation to participate in a 5,000 foot Pettit test in the Caddo Pine Island Field. The Company holds a twenty-five percent working interest in the Muslow #1 located in Section 5, Township 20 North, Range 15 West of Caddo Parish, Louisiana.
There are multiple known producing sands in the prospect area that consists of 2,961 acres. The primary objective of the test well is the Pettit formation at 4,400 feet. The Rodessa formation Hill section also produces natural gas and oil in the area adjacent to the Wilcox Operating leasehold.
The Company has been advised by the operator that the Muslow #1 will be spudded between October 31 and November 15, 2006.
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.
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