SUNDANCE ENERGY AUSTRALIA LIMITED - ASX: SEA

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Description

Sundance Energy Australia Limited (ASX: SEA) is an Adelaide-based independent energy exploration company with US headquarters in Broomfield Colorado.

Since listing on the ASX in April of 2005, Sundance has focused primarily upon the development of large, repeatable resource plays in the US where horizontal drilling, advanced, massive fracture stimulation and enhanced recovery technologies have provided the means to economically develop and produce oil and natural gas from unconventional shale formations. The Company currently owns in excess of 110,000 net acres in some of the most prospective shale basins in the US, including the Bakken fields of North Dakota and the DJ Basin in Colorado and Wyoming. Sundance operates more than a half of its prospects; in the balance of its plays, the Company is partnered with industry leading operators including Helis Oil & Gas, Newfield Exploration, Continental Resources, American Oil & Gas, EOG Resources and Hess Corporation.

In Australia, Sundance has participated in the development of several prospects in the Cooper Basin. And, it recently signed a Memorandum of Understanding with industry leader Beach Energy Limited which will allow the two companies to work collaboratively in identifying, evaluating and acquiring interests in unconventional oil and gas plays in Australasia and, perhaps, other parts of the world. Sundance and Beach agreed to form a joint project team to evaluate and, if agreed, bid for opportunities to develop such plays. Beach also agreed to subscribe for approximately 9% of Sundance’s share capital and placed its Managing Director, Australian oil and gas industry icon Reg Nelson, on the Sundance Board.

The Company’s production exceeded 25,000 BOE in the final quarter of 2009, and is expected to reach that level on a monthly basis in 2010 with several fast paced drilling programs already underway. Sundance has no debt and is cash flow positive.

Mine For

oil, gas

Location of operation(s)

USA, Queensland

Australian Basins

Cooper

Address

32 Beulah Rd
NORWOOD, SA, AUSTRALIA

Phone

(61 8) 8363 0388

Email

Website

http://www.sundanceenergy.com.au

Last Updated

2/02/2011