PetroSun, Inc. announced last week that the oil and gas division of the company is to commence drilling operations on the Manuel Seep Prospect well, from which oil, gas and helium zones are to be explored for potential.
Drilling operations will commence upon the receipt of a permit to drill, completion of site location and arrival of the drilling rig. Praxair is already thought to be waiting in the wings to process possible helium produced.
The Manuel Seep Prospect is located in the Holbrook Basin of Apache County, Arizona. PetroSun maintains oil and gas rights to 985,000 plus acres in the Holbrook Basin of Arizona and the San Juan Basin of New Mexico.
The initial well on the Manuel Seep Prospect has a projected total depth of 4,800 feet and will test all prospective oil, gas or helium zones encountered to basement. PetroSun has already received a letter of interest from Praxair to process potential commercial quantities of helium produced from its leasehold in Arizona and New Mexico.
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