Sundance Energy Australia

Published : June 17th, 2008

Another Extension of US Oil and Gas Interest with Colorado Cutthroat Prospect

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FOR IMMEDIATE RELEASE

 

17 June 2008

 

General Manager

The Company Announcements Office

Australian Securities Exchange

 

Another Extension of US Oil and Gas Interests with Colorado Cutthroat Prospect

 

Sundance Energy Australia Limited (ASX: SEA) is pleased to announce that it has commenced a new lease acquisition program in the hear of the Colorado Rocky Mountains to further expand and enhance its portfolio of US oil and gas projects. The Company's new project is called the Cutthroat Prospect.

 

Building upon the North Park Basin Prospect recently announced by EOG Resources (NSE: EOG) Sundance has begun to acquire leases in Jackson County, Colorado. EOG completed its first horizontal well in its North Park Basin Prospect in the fourth calendar quarter of last year, the Buffalo Ditch 1- 32H, which had initial production of 550 barrels of oil and averaged 320 Bopd in its first thirty days. EOG has completed a second well and spudded a third in a campaign announced to include as many as seven additional wells there this year.

 

Like the North Park Prospect, the primary target of Sundance's new Cutthroat Prospect will be the oil bearing Niobrara formation which lies approximately 7,500 feet (2,286 metres) deep in the prospect area with a resource blanket raging up to 450 feet (137 metres) in thickness. EOG has preliminarily estimated that there are 10,000,000 to 40,000,000 barrels in place per 640 acre spacing unit. The EOG development is premised around well costs of US$6,000,000 and expected EURs of approximately 250Mboe per well, net.

 

As at this date, Sundance has leased approximately 2000 acres with approximately 1,400 of those acres pending execution subject to title confirmation. The Company's leasing effort is ongoing. Sundance owns 100% of the acquired leases and will be the Cutthroat Prospect's operator. Once development commences, the Company intends to drill vertically to the Niobrara top and then horizontally through the oil bearing formation followed by multistage fracture stimulations.

 

The map below sets out the location of the Cut Throat Prospect.

 

 

 

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 89485 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 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

 

 

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 an exploration and oil 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$ 63.1 millions as of today (US$ 50.0 millions, € 41.9 millions).

Its stock quote reached its highest recent level on August 22, 2014 at AU$ 1.42, and its lowest recent point on September 22, 2017 at AU$ 0.05.

Sundance Energy has 1 249 350 016 shares outstanding.

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