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
15 April 2008
General Manager
The Company Announcements
Office
Australian Securities Exchange
Sundance spuds
second well at Phoenix Prospect
US-focussed oil and gas
developer Sundance Energy Australia Limited (ASX: SEA) is pleased to provide
an update on its US drilling and development program, where it has now spudded the first two wells of its anticipated 20 - 25 well
program for 2008.
First Helis Well
Scheduled for Fracture Stimulation
In early March, Helis Oil and Gas Company (“Helis”)
spudded the first well in the Company’s 2008
Phoenix Prospect drilling campaign, the Jones 4-23H, and successfully reached
target depth on 25 March.
The Jones 4-23H is now
scheduled for fracture stimulation preparatory to production on 18 April, which
will represent a further significant milestone for the Company. Sundance owns
45% of this well.
Second Helis Well
Successfully Spuds
Helis successfully spudded the second well in the program, the nearby Jones
16-14, on 4 April, and is currently drilling ahead at 10,086 feet (3074
metres). Sundance owns 47% of the Jones 16-14H.
Both of these first two wells
in the program are located in sections directly adjacent to the successful Levang 3-22H well in which Sundance participated with Helis in December 2007, and which just recently commenced
full production (see Sundance’s ASX Release dated 4 March).
The Company’s 2008 Phoenix drilling program
with Helis is expected to involve eight to ten wells.
Sundance Managing Director Jayme McCoy said the Phoenix
wells were the first in an extensive program over the next two years across its
US
projects.
Sundance Spuds Second Well
“We have a fully funded
development program for 2008, with 20 – 25 wells planned, with
potentially double that number for 2009,” Mr McCoy said.
Mr McCoy said the successful
progression of the first two wells further reduced risk and augured well for
the remainder of its Phoenix
drilling campaign.
Sundance Spuds Second Well at Phoenix Prospect
Further details concerning the
Jones 4-23H and 16-14H wells are included below.
Well: Jones 4-23H
Well
Type:
Horizontal Oil
Operator:
Helis Oil & Gas Company, L.L.C.
Location:
Section 22 T150N R95W
McKenzie County, North Dakota
Sundance’s working
interest:
45%
Objective:
Bakken Shale
Progress and status:
On 2 March 2008, Nabors Rig #558 spudded the Jones
4-23H. On 25 March, the operator successfully reached a total depth of
10,764 feet (3281 metres) Total Vertical Depth, and 15,610 feet (4,758 metres)
Total Measured Depth. The operator has now successfully installed 4 � inch
liner with swell packers, and the Jones 4-23H is scheduled for fracture
stimulation on 18 April.
Well: Jones 16-14H
Well
Type:
Horizontal Oil
Operator:
Helis Oil & Gas Company, L.L.C.
Location:
Section 14 T150N R95W
McKenzie County, North Dakota
Sundance’s working
interest:
47%
Objective:
Bakken Shale
Progress and status:
On 4 April 2008, Nabors Rig #558 spudded the Jones
16-14H and is currently drilling ahead at 10,086 feet (3074 metres).
Map of
Jones 4-23H and Jones 16-14H
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
