Sundance to Spud Alexander Project Test Well
Calgary, Alberta, Canada - February 29, 2012 Sundance Energy Corporation (“Sundance” or the “Corporation”) (“SNY” TSX-V) (“SNYXF” OTCQX) announces that it has received all regulatory approvals for both the drilling of the Sundance Alexander 16-11-56-27 W4M test well (“16-11 Well”) and for the shooting of a 3D seismic survey over a portion of the Corporation’s Alexander First Nations Permit.
The surface lease for the 16-11 Well has been constructed and a rig contracted to commence drilling operations on March 3, 2012. The 16-11 Well will be drilled to a total depth of approximately 1,300 meters subsurface into the Wabamun formation. The 16-11 Well will evaluate the hydrocarbon potential in the Ellerslie, Detrital and Wabamun formations. Drilling operations are anticipated to take approximately one week to complete.
The permitted 3D Seismic Program consists of approximately 9 square miles of shooting and recording and is expected to be completed and processed by the third week of March. Both the drilling operations for the 16-11 Well and the operations for the 3D Seismic Program are expected to be completed before “Spring Break-up” occurs.
Sundance is the operator of the Alexander Project and has a 50% interest. The Alexander Project encompasses the entire Alexander First Nation home reserve which consists of 27 contiguous sections (17,280 gross acres) located in Central Alberta, 8 miles North West of the City of Edmonton, Alberta.
Sundance Energy Corporation is a junior publicly traded oil and gas company whose primary focus is exploring First Nation Lands in Western Canada. Sundance trades in Canada on the TSX Venture Exchange under the trading symbol “SNY” and on the OTCQX Exchange in the U.S.A. under the trading symbol “SNYXF”.
For further information:
Jeffrey Standen, President / CEO
Tel: (403) 538-8446
Fax: (403) 228-7715
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved nor disapproved the information contained herein.
Forward Looking Statements
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are exploration risks detailed from time to time in the filings made by the Corporation with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Sundance. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Sundance does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.