PetroSun Drilling Inc. (Pink Sheets: PSUD) announced today that the company has acquired ETC Energy, LLC. The terms of the transaction include a purchase price of 250,000 shares of PetroSun Drilling restricted common stock and naming Earl Thomas Conley as president of ETC Energy.
Under Conley’s stewardship, ETC Energy will undertake several initiatives designed to enhance relations within the Native American community. The company will seek to establish joint ventures within Native American lands to develop natural resources that include oil, natural gas and wind power. ETC Energy plans to create employment opportunities and increase royalty revenue within native lands as a key part of their endeavors.