Zip Code: 85251
PetroSun (OTC Pink: PSUD) is an energy company specializing in helium, lithium, oil and gas exploration and algae fuel. It is headquarters are in Scottsdale, Arizona, USA. The company holds leases in Arizona and New Mexico. In October 2018 the Company acquired 100% of the issued and outstanding shares of M&M Production and Operation, Inc and Independent Pipeline Corporation "IPC". They own and operate 61 oil and gas wells in San Juan, Sandoval and Rio Arriba Counties in New Mexico, twenty six miles of gas gathering midstream pipeline assets, two compressor stations and four CDP facilities.
Carbon negative process
PetroSun uses a process called "carbon negative energy production". Organic matter is burnt in a kiln with limited oxygen (pyrolysis). This produces carbon dioxide, hydrogen and charcoal (which PetroSun calls "biochar"). The carbon dioxide is used as a feedstock to grow algae for biofuel while the hydrogen is burnt to generate electricity. The biochar, which contains a lot of carbon, is used as a fertiliser.
If the feedstock is plant matter which fixed atmospheric carbon dioxide, and part of its carbon becomes fertiliser which will not be burnt to re-release the carbon into the atmosphere, the net result is a reduction in atmospheric carbon, i.e.. an overall carbon-negative process.
Oil and Gas Assets
PetroSun wholly owned company M&M Production and Operation, Inc asset base includes the following:
61 producing oil and/or gas wells
9,480.85 acres of leasehold consisting of Federal, State of New Mexico, Jicarilla Tribal and Navajo Nation
The leasehold contains 5,880.08 acres of Mancos Shale / Gallup SS rights, which include 10 current producing vertical Gallup SS wells and a dual-completion Dakota / Gallup well
The remaining leasehold contains 51 producing Picture Cliff (PC) / Chacra formation natural gas wells with Fruitland Coal PUDs (Proven Undeveloped).
The production growth capabilities will be highlighted with the utilization of new horizontal drilling techniques. The Company's leasehold of 5,880.08 acres containing the Mancos Shale / Gallup SS formations lies within an area of the San Juan Basin which according to the current USGS reserve report has a potential of up to 6 billion barrels of oil equivalent. The Mancos Shale / Gallup SS may become one of the top tier shale oil plays within the United States in the near term. The Company is strategically positioned within this play due to a large portion of its leasehold position being in the south oil pay window.
Independent Pipeline Corporation assets include a 4 ½ inch pipeline with a rare 45-foot right-of-way that allows for additional lines to be installed in the future. This strategic 26-mile pipeline runs from Ojo Encino, NM northwest to Lybrook, NM from the east-half of Township 22 North, Range 7 West to Section 11, Township 21 North, Range 6 West. The daily capacity of the pipeline is 12 million cubic feet; running through the heart of the South Mancos Shale / Gallup SS oil window in an area that has proven very difficult for operators to obtain a right-of-way. Therefore, the IPC pipeline and its right-of-way is strategic, as it will allow gas and oil to be moved to market and provide the Company with the option to form business alliances with other Operators to tariff and transport their gas through the IPC pipeline. Furthermore, the IPC pipeline and right-of-way creates an opportunity for the development of the vast Fruitland Coal methane reserves in this area of the San Juan Basin.
PetroSun water purification affiliate, Eau Resources
Eau Resources field operations are based out of the PetroSun / Arizona Energy Partners Four Corners regional office and yard in Farmington, New Mexico. The corporate headquarters of Eau Resources are located in Phoenix, Arizona. Initial commercial operations are focused on the processing of oilfield production and frac water in the San Juan Basin and Permian Basin. For more information or to schedule an appointment for a demonstration of the processing unit, please contact Eau Resources at 480-425-4290.
PetroSun Announces Acquisition of Lead Position in Organic Transit Series B Round
PetroSun and Torus TechWorks Inc, a wholly owned subsidiary, have taken an equity position as lead investor in Organic Transit's Series B round and an option to acquire the full offering.
Organic Transit, a Durham, North Carolina based company, has been producing advanced mobility vehicles for the last six years. Their first vehicle is the ELF, a solar/pedal hybrid vehicle that is legally a bicycle, provides full weather protection and gets the equivalent of 1,800 miles per gallon. The ELF is considered the most efficient vehicle commercially available, with over 8 million miles travelled by ELF owners in 12 countries. Organic Transit designs and manufactures small, ultra-efficient electric vehicles that fill the space between a bicycle and a car.
“Organic Transit is excited to team up with PetroSun and Torus TechWorks in this Series B round. This provides the capital resources necessary to scale operations just as micro-mobility is taking off in urban areas around the world.”, said Rob Cotter,
CEO and Founder of Organic Transit. “Organic Transit is the leader in this technology and is the only manufacturer of enclosed solar vehicles that provide safety, weather protection, carry significant cargo, generate zero pollutants and are just great fun.”
For more information about Organic Transit, please go to www.organictransit.com. “Morning in an ELF” can be viewed at http://bit.ly/ELFmorning.
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