PetroSun Drilling Forms Algae BioFuels Subsidiary

PetroSun Drilling, an emerging provider of oilfield services to major and independent producers of oil and natural gas, has formed Algae BioFuels Inc. as a wholly-owned subsidiary.

Algae BioFuels will engage in the research and development of algae cultivation as an feedstock in the production of biodiesel. The R&D and production facilities for Algae BioFuels will be based in Arizona and Australia.