PetroSun Drilling

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PetroSun Named Title Sponsor of The Independence Bowl
Tuesday August 22, 2:42 pm ET

Deal to Extend PetroSun Independence Bowl Partnership Through 2008

PHOENIX, AZ--(MARKET WIRE)--Aug 22, 2006 -- PetroSun Incorporated (Other OTC:PSUD.PK - News) is pleased to announce today that it has inked a deal to secure Title Sponsorship of the 2006 Independence Bowl which will be held on Thursday, December 28 in Shreveport, LA. Kickoff is scheduled for 3:30 p.m. Central time. The terms of the partnership agreement give PetroSun naming rights to the historic bowl through 2008.

This is an exciting opportunity for us on many levels. The Independence Bowl partnership provides PetroSun a terrific platform, nationally, to generate greater brand awareness and introduce to the public some of our renewable energy initiatives but it also provides a terrific opportunity for the company to make a difference at the local level, through our active participation in charity organizations and sponsored community events," said Gordon LeBlanc, Jr., Chairman/CEO of PetroSun, Inc. "My wife and I were both raised in the Shreveport-Bossier area, so it's a homecoming of sorts for us. We have always been familiar with the Independence Bowl and its strong history and we're excited, along with Rayfield Wright, to be a part of this event and this community."

The Independence Bowl provides one of the most attractive match-ups of any bowl game in the nation, showcasing teams from the Big 12 and Southeastern Conferences. The Bowl has been televised on ESPN since 1992 to a national audience and has become a fixture of ESPN's Bowl Week. Last year's game, a thriller won by Missouri 38-31 over South Carolina, garnered a 2.75 TV rating, ranking it sixth out of 20 bowl games carried on the network.

The PetroSun Independence Bowl and ESPN, the worldwide leader in sports, also reached an agreement today for a contract extension, keeping the game on ESPN through 2009.

"On behalf of our entire ESPN college football team, we are very pleased to extend our 15-year relationship with the Independence Bowl through the 2009 game and we welcome PetroSun to what has been a tremendous partnership," said Dave Brown, ESPN's Vice-President of Programming and Acquisitions. "Many of college football's top programs and top players have visited the Ark-La-Tex region each year and we look forward to more great Big 12 vs. SEC games going forward. The Independence Bowl is truly a community event and we look forward to continuing to be a part of it."

The Independence Bowl can trace its roots back to 1975 when the board of directors of the Shreveport-Bossier City Sports Foundation conceived the idea of bringing a postseason football game to northwest Louisiana. Applying to the National Collegiate Athletic Association for certification, the group's efforts were rewarded with the approval of a December 13, 1976 game. Past title partners include Poulan / WeedEater, Sanford Corporation, and MainStay Funds.

"The Independence Bowl has a great deal of history behind it, and now thanks to PetroSun stepping up as the title sponsor, and the extension with ESPN that takes us through 2009, our future looks better than ever," said Independence Bowl Executive Director Missy Setters. "We feel like this is a tribute to the hard work of so many people over the past 30-plus years, and we couldn't be happier and more excited about the future of the PetroSun Independence Bowl."

All ticket renewals for the 2006 game have been mailed and new ticket orders are currently being accepted. Anyone who did not receive a renewal form in April should contact the Independence Bowl office immediately. Those interested in ticket information can call the Bowl office at (318)221-0712 or toll free at (888)414-BOWL (2695). Interested parties can also visit the bowl's official web site at www.independencebowl.org to receive updated information on news and related events.

About PetroSun

PetroSun's current operations are concentrated in the Ark-La-Tex region with plans to expand into New Mexico, Arizona, Utah and Australia in 2006. PetroSun provides a comprehensive array of products and services to the oil industry. PetroSun BioFuels, a wholly owned subsidiary, is an emerging producer of bio-diesel 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 ROI framework, creates long term value for PetroSun shareholders and partners. PetroSun is headquartered in Phoenix, Arizona. For more information about PetroSun visit the company's website at http://www.petrosun.us

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.

Contact:

Source: PetroSun

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Address:
6900 East Camelback Rd.
Scottsdale, AZ 85251
USA


Phone: 602-487-6486

Business Description:
PetroSun Drilling is an oilfield services company with operations that include wholesale pipe and supply, drilling and workover services in Louisiana, Arkansas, Texas, New Mexico and Arizona.

Primary State of Incorporation: Nevada

Country of Incorporation: USA
Year of Incorporation 2001

Officers:
Gordon M. LeBlanc Jr., Chairman/CEO; L. Rayfield Wright, President

Fiscal Year End: December

Outstanding Shares: 18,000,000 as of 2006-05-16

Estimated Market Cap: Not Available
     Authorized Shares: 25,000,000 as of 2005-11-16

Current Capital Change:

Dividends:

Transfer Agent:
First American Stock Transfer, Phoenix, AZ 85022-6642

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