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
23 April 2008
General Manager
The Company Announcements
Office
Australian Securities Exchange
Sundance Extends US
Oil and Gas Interests with
May-Jon Prospect
Sundance Energy Australia
Limited (ASX:SEA) is pleased to announce it has again enhanced its spread of US
oil and gas projects, reaching an agreement to recomplete
an existing well and drill as many as 4 additional wells, in an existing oil
and gas development play located in the Wattenberg Field of the DJ Basin which
is located in Weld County, Colorado; this project is called the May-Jon
Prospect.
Significant quantities of oil
and gas have been produced from the DJ Basin’s Wattenberg field, since
its discovery in 1970. The Wattenberg has over 12,000 producing wells
exploiting multiple pay formations.
The Company will be recompleting the first well, the May-Jon 1A, in the Codell Sandstone. This well is currently producing from the
deeper J-Sand. The recompletion of the May Jon 1A is
anticipated to begin in the coming weeks. The 2nd well, May-Jon
13-5D #2, will spud following the completion of the May-Jon 1A. The company
will earn a minimum of three additional drill sites.
The May-Jon 13-5D #2 will be
drilled directionally to approximately 8,000 feet (2,440 metres)
and will target conventional oil and gas reserves in the J-Sand, Codell, and Niobrara formations. The wells will target
potential reserves of 17,500 BO & 350,000 MCF per well from those
formations.
Below, on the second page, is
a map showing the location of the May-Jon Prospect.
New Prospect in DJ Basin
New Oil Prospect
Mr McCoy said,
“Paul Franks, our Chief Engineer, and I cut our teeth in the DJ Basin,
so we understand it well both operationally and economically. We are confident
this development opportunity will be another winner for our
shareholders.”
Wattenberg Field
Ø
Over 12,000 Producing Wells
Ø
Discovered in 1970
Ø
6th Largest Gas Field in the US
*From COGCC
(Colorado
Oil and Gas Conservation Commission)
|
|
 Work over
rig on the May-Jon 1A
|
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 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. The Company has ownership
interests in five US
oil and gas projects comprising more than 68,000 highly prospective acres.
In Australia, Sundance owns acreage in
the Cooper/Eromanga Basin totalling
approximately 1,140,000 acres.
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
