PetroSun, Inc. (PSUD.PK) Completed Initial EP 417 Funding Requirements
Earlier this month, PetroSun announced that it completed the initial funding requirements of the EP 417 Farmin Agreement. PetroSun was assigned a 75% working interest in the Canning Basin permit as the sole funder of the drilling, testing and completion costs of the initial two test wells. The EP 417 property contains many seismic generated geological features including the Lanagan, Lawford and Spinifex which is expected to be tested during Phase Two of the Farmin Agreement. The company plans to initiate its first test by drilling a well on the Lanagan A Prospect later this year. The Lanagan A Prospect…