PetroSun Inc (PSUD)

[RetireSoon2]

PetroSun announces acquisition of AEP Drilling Rig 2

Petrosun, Inc announced today that AEP Drilling LLC, a wholly-owned subsidiary of PetroSun affiliate Arizona Energy Partners LLC, has executed an agreement that acquires a Stewart & Stevenson’s Crown Duke CE750 drilling rig. The Crown Duke drilling rig was acquired from Beeman Equipment Sales of Moab, Utah.
The AEP Drilling Rig 2 (Crown Duke) will be mobilized and arrive in Arizona within the next two to three weeks. The Crown Duke CE750 is rated to 10,000 feet.
The AEP Drilling Rig 2 will be utilized to drill basement tests in Arizona, including the drill-out into basement of the AEP 16-1 well that is currently shut-in at 2,705 feet. Rig 2 will also drill on PetroSun and/or AEP leases in New Mexico and potentially in Utah and Colorado.