ASX Announcement ? 22.10.08
For Immediate Release
General Manager
The Company Announcements Office
Australian Securities Exchange
Phoenix and South Antelope Development Update
US based oil and gas developer Sundance Energy Australia Limited (ASX: SEA) is pleased to provide the following update concerning the Company?s ongoing development activities in its Phoenix and South Antelope Prospects.
Phoenix Prospect
Chase 21-30H (Sundance owns 100%)
On 11 October, Patterson Rig # 491 reached a total measured depth of 14,492 feet (4,417 metres). On 15 October, the production liner was successfully installed with six swell packers and six Stim Sleaves; the rig was released on 18 October, and is currently moving to the Helis operated Jones 4-24H, in which the Company owns a 50% interest. The Chase 21-30H is scheduled to be fracture stimulated in six stages on 1 November.
South Antelope Prospect: Helis Operated Wells
Levang 3-22H (Sundance owns ~3.25%WI)
On 20 August, this well was placed back on production with tubing, rods and pump. On 15 October, the well was reporting average daily production of 122 barrels of oil, and130 Mcf of gas. As it is now in full production, the Levang 3-22H will be dropped from future Development Updates, and will be updated in future production reports.
Jones 4-23H (Sundance Owns ~45%WI)
On 24 September, a pumping unit was installed and this well was placed back on to production. In the 26 days since installing the pumping unit, the well produced 5,469 barrels of oil and 770 barrels of water. As it is now in full production, this well will be dropped from future Development Updates, and will be updated in future production reports.
Jones 16-14H (Sundance Owns ~47%WI)
On 16 October, a well service rig was on location to clean out the lateral; and, it is currently running production tubing, down hole pump and rods. The pumping unit will be installed after the rig is released.
Peterson 15-15H (Sundance owns~7%WI)
On 7 October, a well service rig was moved on location to run production tubing and a packer. That rig was released on 14 October, and the well was placed back on to production. This well will be produced through tubing until pressures are lowered and down hole pump and rods are installed. From 14 October, through 20 October, the well produced 1,344 barrels of oil.
Levang 4-28H (Sundance owns~7%WI)
This well reached a total measured depth of 15,727 feet (4,793 metres) in July, and was successfully fracture stimulated in early August. On 25 August, the frac string was removed and the lateral cleaned out to a total measured depth of 15,320 feet (4,669 metres). The well is currently producing up tubing, and will be developed similar to the Jones wells. During the last 30 days, the Levang 4-28H has produced 2,944 barrels of oil.
Levang 4-13H (Sundance Owns~49%WI)
On 11 October, this well was fracture stimulated in 4 stages. However, the well screened off on the fourth stage, and is currently flowing back to clean up frac sand. The last two stages of the fracture stimulation will be done as soon as the cleanup is adequately completed.
State 4-36H (Sundance Owns~50%WI)
On 27 September, Nabors Rig # 558 reached a total measured depth of 15,641 feet (4,767 metres). The production liner was successfully installed and the rig released on 30 September. The well is currently scheduled for fracture stimulation on 25 October.
Henderson 4-1H (Sundance Owns~50%WI
On 7 October, Nabors Rig # 558 spudded the Henderson 4-1H; the operator is currently drilling ahead in the curve at 10,345 feet (3,153 metres).
South Antelope Prospect: Non-Helis Operated Wells
Thompson 44X-20 (Sundance Owns~1%WI)
This well is being operated by Headington Oil, LP. Headington reached a total measured depth of 21,140 feet (6,443 metres) on 3 July. The well has been successfully fracture stimulated, and Sundance is currently awaiting initial production results.
Jack Pennington 21-21H (Sundance Owns~1.25%WI)
This well which is operated by Marathon Oil Co., has now been successfully fracture stimulated. And, it produced 4,182 barrels of oil in 23 days of reported production in September. As it is now in full production, this well will be dropped from future Development Updates, and will be up-dated in future production reports.
Images can be found by following the links below:
http://www.purplecom.com.au/_content/documents/961.JPG
http://www.purplecom.com.au/_content/documents/962.JPG
http://www.purplecom.com.au/_content/documents/963.JPG
For further advice on this release, please contact:
Kip Hunter Warrick Hazeldine
General Counsel/ Purple Communications
Director of Communications Investor Relations
US based Tel:(+61 8 9485 1254)
Tel: (303-543-5709)
About Sundance Energy Australia Limited
Sundance Energy Australia Ltd (ASX: SEA) is an Adelaide-based, independent energy exploration Company, with a wholly owned US subsidiary, Sundance Energy, Inc., located in Colorado, USA. The Company is developing projects in the US and Australia. In the US, Sundance is primarily focused on large, repeatable resource plays where it develops and produces oil and natural gas reserves from unconventional formations.
A comprehensive overview of the Company can be found on the Company?s website at www.sundanceenergy.com.au.
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