Sundance Energy Australia

Published : June 04th, 2008

2008 Development Campaign Update

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32 Beulah Road, Norwood. South Australia. 5067       ACN 112 202 883

Telephone:  +61 8 8363 0388     Facsimile: +61 8 8132 0766   www.sundanceenergy.com.au

 

 

FOR IMMEDIATE RELEASE

General Manager

The Company Announcements Office

Australian Securities Exchange

 

2008 Development Campaign Update

 

US based oil and gas developer Sundance Energy Australia Limited (ASX: SEA) is pleased to provide the following update on its South Antelope, Phoenix, May Jon and North Washington Prospect development programs. As has been previously set forth, for the purposes of clarification, the Company??s North Dakota Bakken project with Helis Oil & Gas Company (??Helis??) will hence forth be referred to as the South Antelope Prospect, while its internally operated drilling program immediately adjacent to the Helis AMI will continue to be called the Phoenix Prospect.

 

South Antelope Prospect

The Company??s South Antelope Prospect development campaign is anticipated to include as many as 10 wells in 2008; and, Sundance now has initial production from two wells there, the Levang 3-22H and the Jones 4-23H, has a new fracture stimulation date set for a third, the Jones16-14H, an initial fracture stimulation date set for its fourth, the Peterson 15-15H, and is set to spud its fifth well in the prospect, the Levang 4-28H, later this week. Further details on each are set forth below.

 

Levang 3-22H

On 26 February, work was completed co-mingling the Levang??s two laterals, and the well was placed on production flowing up 2 ?? inch tubing. Since then, the Levang has had cumulative production of 30,449 barrels of oil flowing up the tubing. Over the last seven days, the Levang has produced an average of 166 Bopd. The operator has set a pumping unit and is preparing to install production rods after which this well will be put into full production. Sundance owns 3.28% of the Levang.

 

Jones 4-23H

Since being fracture stimulated on 18 April, the Jones has had cumulative production of 12,310 barrels of oil and 10,389 Mcf of gas, flowing up 7 inch casing. The Jones 4-23H averaged 177 Bopd in the last seven days. As of this date, 23% of the frac load had been recovered with 14,984 barrels left to recover.

 

Jones 4-23H contd.

This well will be produced to a point at which the pressures are drawn down sufficiently to clean out the sand from the lateral and install production tubing. The well will then be produced up tubing to lower bottom hole pressure, after which it will be placed on pump for full production. Sundance owns 45% of this well.

 

Jones 16-14H

Helis spudded the South Antelope 2008 program??s second well, the Jones 16-14H, on 4 April, and successfully reached its target of 15,489 feet (4721 metres) total measured depth on 27 April. On 30 April, 4 ?? inch liner was successfully run with swell packers and Delta Stim sleeves. The operator attempted to fracture stimulate this well on 24 and 25 May, but was only able to pump 2,300 barrels of slick water and cross link gel before determining that it could not establish the desired frac rate down the 7 inch casing. A workover rig is currently moving onto the location in order to run a 4 ?? frac string, and the well is now scheduled to be fracced on 9 June. Even though no sand was pumped during the initial frac attempt, the Jones 16-14H has made 349 barrels of oil in the 5 days of flowing back since the attempted frac. Sundance owns 47% of the Jones 16-14H.

 

Peterson 15-15H

This well reached its target depth of 15,780 feet TMD (4,810 metres) on 30 May. On 1 June, 4 ?? inch production liner with swell packers and Delta Stim sleeves was successfully run. This well is scheduled to be fracture stimulated on 21 June. The Company owns approximately 7% of the Peterson 15-15H.

 

Levang 4-28H

The operator has mobilized the rig to the site, and this well is set to spud later this week..

Sundance owns approximately 7% of the Levang 4-28H.

 

Levang 4-13H

Preparations are being made to spud this well immediately following completion of the Levang 4-28H. Sundance will own approximately 49% of the Levang 4-13H.

 

Phoenix Prospect

Although permitting on the American Indian reservation within which this prospect is located has proven far more difficult than originally anticipated, the Company is optimistic that its first 100% owned Bakken well, the Chase 21-30H, will be permitted and location construction begun before the end of this month.

 

North Washington Prospect

As was reported on 17 April, the Company had reached agreement with Deka Exploration, Inc., to participate for approximately 6-7% in this new prospect located in McClain County, Oklahoma, and was anticipating that the first well would spud there before the end of the current quarter. And, on 10 May, Deka spudded the Paul 1-15, a vertical test well designed to test six possible productive zones on its way to the Oil Creek formation. As of this date, the well is drilling ahead at 8,822 feet (2,689 metres) with a total estimated target depth of 9720 feet (2,962 metres). The well has encountered good oil shows in the Osborne Sand and the Upper and Lower Hutton Limestones, which are secondary targets within the prospect.

 

May Jon Prospect

As it reported on 23 April, the Company had entered into an agreement to recomplete an existing well in an established Wattenberg field located in Colorado??s DJ Basin, in order to earn the right to drill up to four additional 100% owned wells there. On 1 May, the May Jon 1 (100% working interest) was successfully recompleted in the Codell Formation and that formation was fracture stimulated on 7 May. Since then, the well has been swabbed back, and the swabbing rig was released on 2 June on which date the well produced 18 barrels of oil with most of the frac load left to recover. The well will be shut in while drilling operations on the May Jon 23-5D #3 proceed.

 

The Company has begun construction of the location for the May Jon 23-5D #3 in preparation for the drilling rig??s arrival which is scheduled for 6 June.

 

For further advice on this release, please contact:

 

Kip Hunter

General Counsel/Director of Communications

US based

Tel: (303-543-5709)

 

Warrick Hazeldine

Purple Communications

Investor Relations

Tel: (+61 8 9485 1254)

 

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 I 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.

 

***

 

Issued by

Purple Communications

Level 3, 28 Kings Park Road, WEST PERTH WA 6005

Ph: 08 9485 1254     Fax: 08 6263 0455

purple@purplecom.com.au    

 

 


 

Sundance Energy Australia

CODE : SEA.AX
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Sundance Energy is a and oil exploration company based in United states of america.

Sundance Energy holds various exploration projects in Australia and in USA.

Its main exploration properties are ARKOMA BASIN in USA and COOPER EROMANGA BASIN and WILLISTON BASIN in Australia.

Sundance Energy is listed in Australia. Its market capitalisation is AU$ 206.1 millions as of today (US$ 139.7 millions, € 126.9 millions).

Its stock quote reached its highest recent level on August 22, 2014 at AU$ 1.42, and its lowest recent point on December 12, 2018 at AU$ 0.04.

Sundance Energy has 1 249 350 016 shares outstanding.

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1/30/2015Operations Update
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1/29/2015Reserve Upgrade
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11/30/2009to Appoint Reg Nelson as a Director
3/10/2009Company and Development Update
11/27/2008Development Update
11/13/2008AGM address and presentation
8/12/2008Revenue and Developement Update
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6/4/2008 2008 Development Campaign Update
4/15/2008 Spuds Second Well at Phoenix Prospect
1/2/2008Closes Drilling Deal for Phoenix Prospect
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