Sundance Energy Australia

Published : April 15th, 2008

Spuds Second Well at Phoenix Prospect

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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

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    

 

 

 

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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4/15/2008 Spuds Second Well at Phoenix Prospect
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