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
17April 2008
General Manager
The Company Announcements
Office
Australian Securities Exchange
Sundance Extends US
Oil and Gas Interests with
North Washington Prospect
Sundance Energy Australia
Limited (ASX:SEA) is pleased to announce it has expanded its spread of US oil
and gas projects, reaching an agreement to participate with Deka Exploration,
Inc., in a new oil development play located in McClain County, Oklahoma; the
new project is called the North Washington Prospect.
Deka is an Oklahoma-based operating
company with which Sundance has already participated in several projects,
including the recently sold Ashland Prospect and its current Buffalo Creek
Prospect.
The Company will have a
working interest of approximately 6-7% across the North Washington Prospect.
And, the prospect’s first well is scheduled to spud on or about May 1,
2008.
That initial well will be
drilled vertically to approximately 10,000 feet (3,048 metres) and will target
conventional oil reserves in the Bromide, Tulip Creek, McLish and Oil Creek
formations.
The prospect area has a strong
production history. There are approximately 30 wells in the prospect area, 20
of which were completed as producers, 11 of which were significant producers
(150,000 BO or more per well) and two of which are still producing. Seven of
those wells have cumulative production of approximately 1,000,000 BO per well.
The North Washington Prospect
includes 2-3 additional drilling locations assuming success on the initial
well.
Below is a map setting out the
location of the North Washington Prospect.
New Oil Prospect
Mr McCoy said, “We are excited to be continuing
our long standing relationship with Deka Exploration on this small but exciting
new prospect. The economics of this play are quite promising, and should
directly enhance our shareholder’s bottom line.”
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
