PHOENIX, ARIZONA—(Disclosure & News Service – November 11, 2016) – PetroSun, Inc (OTC PINK: PSUD) announced today that the Company has acquired oil, gas and helium leases on approximately 207,664 acres located in the Holbrook Basin of Arizona. The leases are for a primary term of six years and provide a royalty of twelve and one-half percent to the mineral rights owner NZ Legacy, LLC.
A Joint Operating Agreement was entered into with Arizona Energy Partners, LLC (AEP) to act as the Operator of the leasehold. AEP has provided initial funding of $1,500,000 for helium exploration and testing during Phase 1 of field operations.
An agreement has been entered into with MHA Petroleum Consultants (Denver) to provide an evaluation of natural gas and helium volumes in the Holbrook Basin leasehold.
PetroSun, Inc. 480-425-4290