PHOENIX, AZ -- (MARKET WIRE) -- 04/09/07 -- PetroSun, Incorporated (PINKSHEETS: PSUD) announced today that the Board of Directors of Algae BioFuels, a wholly owned subsidiary of PetroSun, have issued the exclusive algae to biofuel production technology license to PetroSun BioFuels for the Australasian market. PetroSun BioFuels is a wholly owned subsidiary of PetroSun and was formed to cultivate algae and refine the algal oil into biodiesel for distribution under the PetroSun brand throughout Australasia.

PetroSun BioFuels has commenced the search for an appropriate location to establish the initial Australia-based production plant that will cultivate algae in open and closed systems. The facility will include a biofuel refinery designed to produce up to 20 million gallons of biodiesel per year. The production and refining capacity will be increased based on market demand for biodiesel within the licensed territory. The current U.S. wholesale price of biodiesel exceeds $2.00 per gallon.

Independent studies have demonstrated that algae are capable of producing oil yields in excess of 55,000 kilograms per hectare annually. The oil yield per hectare annually from conventional crops such as palm oil (5,000), peanuts (890), rapeseed and sunflower (675), soybean (450) and corn oil and cottonseed (225) are far less than algae. As the worldwide cost of diesel has increased dramatically the past few years as a result of higher crude oil prices and refining cost increases, biodiesel produced from algae offers an alternative that is not subject to commodity risks as is crude oil, corn and soybeans and is capable of supplying a sustainable feedstock.

The Company will also be producing high protein animal feed from the algae biomass, ethanol and potential excess electricity as additional revenue streams from plant operations. The production process will also have a beneficial affect to the environment as algae consume carbon dioxide in the presence of sunlight. The source of the carbon dioxide can come from power plant emissions that would create CO2 credits.

PetroSun BioFuels will establish offices in Brisbane and Perth for sales and marketing.

About PetroSun

PetroSun's current oil and gas operations are concentrated in the Ark-La-Tex region with plans to expand into New Mexico, Arizona and Australia in 2007. Algae BioFuels, a wholly owned subsidiary of PetroSun, is an emerging producer of biodiesel derived from the cultivation of algae. The Company's cutting-edge technologies, combined with a proven ability to apply them effectively and safely within a disciplined framework, create long-term value for PetroSun shareholders and partners. PetroSun is headquartered in Phoenix, Arizona with field offices in Shreveport, Louisiana and Opelika, Alabama. For more information about PetroSun visit the company's website at http://www.petrosuninc.com.

Except historical matter contained herein, matters discussed in this news release are forward-looking statements and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect the Company's business and prospects and cause actual results to differ materially from these forward-looking statements.

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