PETROSUN INC - PSUD STOCK NEWS

PetroSun has appointed Dr. R. Gerald Bailey as Executive Vice President. Dr. Bailey, former President of Exxon - Arabian Gulf, has extensive experience in the energy sector and has been part of PetroSun's Board of Directors. This appointment comes as PetroSun discloses $23.6 billion in estimated lithium and helium reserves. Dr. Bailey's expertise is expected to drive the commercialization of these resources and bring global attention to the company's activities. Gordon LeBlanc Jr., CEO and President, emphasized that the addition of Dr. Bailey positions PetroSun for production and revenue growth.

PetroSun (OTC PINK:PSUD) has announced a significant increase in its lithium reserves, now valued at $18.9 billion. The company plans to begin production in Q2 2025, with a pilot program starting as early as Q4 2024. PetroSun is working on extracting and processing lithium from both clay and brine water, with efforts focused in the Salton Sea area of California and the Smackover Trend across several Southern states. They are also evaluating holdings in the Four Corners region and Mexico for additional elements like zeolite, rubidium, and cesium. The company is confident in securing necessary capital from government loans and private sectors for extraction and processing plants.

PetroSun (OTC PINK: PSUD) announced a $2.5 million Farmout Agreement with Pivot Point Energy covering 207,663 acres in the Holbrook Basin. This agreement replaces a previous one with JAYD Ventures, terminated in April 2024. PetroSun will receive a $2.5 million leasehold fee due by June 12, 2024, and a commitment for two test wells. Pivot Point Energy will have a 75% working interest and a three-year lease extension. The primary focus is helium, with secondary targets being oil and natural gas. The funds will help retire corporate debt and advance the Holbrook Basin helium program.

PetroSun, Inc. announced partnerships with Exodus Energy and Pivot Point Energy for Oil, Gas, and Helium interests in the Central Holbrook Basin. Estimated helium reserves in the Concho Dome structure are 3.453 billion cubic feet, valued at $863 million. The adjacent structures hold 15.467 billion cubic feet, valued at $3.86 billion. Plans for a helium processing plant and drilling in 2024 are underway.

PetroSun, Inc. (OTC PINK:PSUD) has announced significant management changes. Gordon M. LeBlanc, Jr. returns as Executive Chairman, CEO, and President, effective immediately, following the departure of R. Gerald Bailey in November 2022. LeBlanc aims to enhance shareholder value through the company's helium leases in the Holbrook Basin. Concurrently, Christopher Hewitt will step down as Chief Financial Officer on April 13, 2023, after serving since December 2021. LeBlanc expressed gratitude towards Hewitt for his contributions. PetroSun holds extensive mineral leases, covering approximately 280,000 acres in the Holbrook Basin and over 26,000 acres in the Paradox Basin, focusing on helium and natural gas production.

PetroSun, Inc. (OTC PINK:PSUD) announced a framework agreement to market future helium production from its Holbrook Basin leaseholds to Desert Mountain Energy. This arrangement allows PetroSun to deliver helium to Desert Mountain's McCauley processing facility once commercial reserves are confirmed. Desert Mountain Energy will have approval rights on gas sales based on composition and processing capacity. Although production is not yet underway, the agreement offers a flexible route to market helium until PetroSun can develop its processing capabilities. The company holds significant leasing acreage estimated at 280,000 gross acres in Holbrook Basin.

PetroSun, Inc. (OTC PINK:PSUD) announced the completion of a sale of 67.2 million common shares at a price of $0.01 per share, raising funds for recent drilling operations at its helium well at Manuel Seep, strategic initiatives in helium exploration, and general administrative expenses. The offering attracted Accredited Investors under Rule 506 of Regulation D, broadening the Company's investor base. The company holds extensive lease interests across 300,000 acres in the Holbrook Basin and Four Corners region. The CFO noted the importance of this funding for ongoing operations and the potential for additional share issuance in future financing strategies.

PetroSun, Inc. (OTC PINK:PSUD) announced the successful completion of drilling operations at its Manuel Seep 2-1 well, reaching a depth of approximately 4,010 feet. The installation of production casing has been completed, and the company is planning to conduct helium presence tests in commercial quantities. With significant leasehold acreage in the Holbrook Basin and Paradox Basin, PetroSun is strategically positioned for helium and natural gas exploration.

PetroSun, Inc. (OTC PINK:PSUD) announced the resignation of Dr. R. Gerald Bailey as CEO and Director, effective November 23, 2022. Dr. Bailey cited the pursuit of other industry opportunities as his reason for leaving, expressing positive sentiments regarding his tenure and the company’s drilling project at Manuel Seep. The Chairman, Gordon LeBlanc, Jr., acknowledged Dr. Bailey's contributions and confirmed that a search for a new CEO with relevant energy experience is underway to advance the company's helium exploration and production initiatives.