CALGARY, ALBERTA–(Marketwired – Dec. 5, 2013) – Sundance Energy Corporation (“Sundance” or the “Corporation”) (TSX VENTURE:SNY)(OTCQX:SNYXF) hereby provides an update on the Corporation’s recent drilling activities in the Ochapowace Area located in south east Saskatchewan:
The 16-32 Test Well commenced drilling before the end of November 2013 and was drilled to a depth of approximately 1,250 meters subsurface. The 16-32 Test Well evaluated the Jurassic Sands, the Bakken, Lodgepole and Birdbear formations. Cores were cut and taken in the Bakken and Lodgepole formations. Seven inch (7″) casing has been run/set from surface down to 30 or 40 meters into the Birdbear formation. The 16-32 Test Well is currently standing cased and awaiting further evaluation of the logs and cores.
The 16-32 Test Well was drilled, logged, cored and cased at no cost to Sundance. These costs were incurred 100% by a third party exploration company. Any further completion or abandonment costs will also be incurred 100% by the third party exploration company.
Sundance retains a 45% interest in the 16-32 Test Well and surrounding lands. Sundance remains the Operator of the 16-32 Test Well and the Operator of the approximately 40,000 acres in the Ochapowace Project Area.
Sundance Energy Corporation is a publicly traded junior oil and gas exploration company whose shares trade on the TSX Venture Exchange under the trading symbols “SNY”. Sundance focuses its exploration activities exclusively on First Nation Lands located in Western Canada.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Sundance’s business, such as anticipated oil production, which by their nature are forward-looking statements and which are subject to numerous risks and uncertainties, some of which are beyond Sundance’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Sundance believes that the expectations in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Sundance does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
President and Chief Executive Officer