PetroSun announced today its Q1 exploration and development plans for the Holbrook Basin (AZ); long-term Liquid Helium Supply...
December 17 2018 - 9:15AM
via OTC PR WIRE -- PetroSun, Inc (OTC PINK: PSUD) announced today
its Q1 2019 exploration and development plans for the Holbrook
Basin (AZ). AEP Drilling, a wholly-owned subsidiary of Arizona
Energy Partners and affiliate of PetroSun, will move its drilling
rig onto the AEP 16-1 Concho Dome (Permit 1215) to deepen the well
to 4,000 feet or basement, whichever is deeper. After testing and
completion operations are conducted on the 16-1, AEP Drilling will
move the rig to the AEP 2-1MS (Permit 1216) to test the Manuel Seep
structure. Both wells and geological structures have the potential
to produce commercial quantities of helium, crude oil and/or
natural gas.
If successful, Arizona Energy Partners will drill additional
development wells and construct the Oso Draw Helium Plant for the
extraction and processing of up to 240 million standard cubic feet
of liquid helium per year. AEP will supply liquid helium produced
by this facility to Praxair, a wholly-owned subsidiary of Linde plc
(NYSE: LIN; FWB:LIN), under a long-term agreement. “Our supply
agreement with AEP is yet another example of Praxair’s commitment
to support the development of helium resources globally in order to
meet our customers growing demand”, said Praxair’s Amer Akhras,
General Manager, Global Helium.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Act of 1934, as amended.
In some cases, you can identify forward-looking statements by the
following words: “anticipate”, “believe”, “continue”, “could”,
“estimate”, “expect”, “intend”, “may”, “ongoing”, “plan”,
“potential”, “predict”, “project”, “should”, “will”, “would”, or
the negative of these terms or other comparable terminology,
although not all forward-looking statements contain these words.
Forward-looking statements are not a guarantee of future
performance or results and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Forward-looking statements are based on
information available at the time the statements are made and
involve known and unknown risks, uncertainty and other factors that
may cause our results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by the forward-looking statements in this
press release. This press release should be considered in light of
all filings of the Company that are disclosed on the OTC Market.com
website.
Contact:
PetroSun, Inc.2999 North 44th Street, Suite
620Phoenix, Arizona 85018480-425-4290info@petrosun.usWebsite:
www.petrosun.us
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