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South Antelope sale
Presentation on the South Antalope sale is posted here:
South Sale Presentation
I think in 2 years we are going to look back and see this at the key event that moved Sundance from a J/V partner to an operator.
I expect they'll speed up drilling as an operator to move towards their 5000 BOEpd goal and focus on purchasing more right in the Mississippian.
Stock is already up .34 cents this month.
July operations update is likely out this week as well, do good drilling results in their higher interest wells should push the stock up even more.
Thoughts?
Jeff
Latest Quarter Results Report-
follow the link.
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=SEA
http://www.asx.com.au/asxpdf/20120731/pdf/427qj97lj5mrph.pdf
They pretty much met guidance.Accumulating down here-
futr
SDCJF May Corporate Presentation-
http://www.sundanceenergy.com.au/2012/05.30.2012%20-%20May%202012%20Corporate%20Presentation.pdf
Among other items of note are Oil Price hedges,and projected production of 5,000 Barrels of Oil/Day within 24 months-
Current production is ~ 1,600/day
futr
anyone adding on the continued pullback?
Quarterly call Preso posted
Quarterly Conference call
Sundance looks to be hitting on all cylinders! They are doing this year what we had hoped for last year!
Some highlights I read:
- Leon Pecha #1 Frac scheduled for this week - operator and 72.8% Net interest
- 2nd Mississipian well Leroy Unruh drilling started - operator and 66.7% NI
- More good news in June when the announce the second half High interest drilling program
- March production was 1500 boed!
- Solid plan to spend 88 Million in Capex, with no Dilution!!!!!
- Increased Mississippian position by 4,000 acres in March
Sundance is quickly transitioning from JV to Operator, this is a great time to buy more IMHO.
Thoughts,
Best Regards,
Jeff
Sundance Energy Australia Limited (the “Company”) is pleased to advise that its Managing
Director, Eric McCrady, will host a Quarterly Market Briefing teleconference at 8:30 a.m.
AEST on Thursday, May 10, 2012, to discuss the Company’s current operations and financial
performance.
Teleconference Details:
Australia: 1800 030 272
International: +61 2 9001 2120
Participants will need to quote this access code: 278671#
Alternatively, the teleconference will be streamed via Boardroom Radio and will be available
via this link: http://www.brrmedia.com/event/96750/
Yours sincerely,
United States Australia
Q3 Cash flow and Activities report out today.
Sundance release their Q3 report today.
Activities and Cash Flow Reports for 31 March 2012 Quarter
Nothing really new but a few things jumped out at me:
- New format, more professional, tells more of a story than past reports
- They are getting more for the NGAS since it is liquid rich.
- Cash from oil and NGAS sales was 4.2 million in Q3. Nice acceleration, with the Williston Basin wells, this should only increase in Q4.
- Generating enough cash to pay for much of the new exploration
- Credit available if needed, meaning (hopefully) no shareholder dilution is likey in the near term (IE this year)
If they start getting oil/results from the Leon Pecha#1 well in the Mississipian, the growth could be even more dramatic since they own 70%+ of the well's revenue.
This continues to be an excellent year for Sundance!
Thoughts?
Jeff
SEA.AX/SDCJF.PK
Great production update from Sundance.
http://www.asx.com.au/asxpdf/20120419/pdf/425pxlv53066h0.pdf
SDCJF added a few more today!
sdcjf.pk/sea.ax -.01 to US$.79 news out,posted by Bobwins!
This is good news for Sundance. They are transitioning from a non operator model to operating higher working interests. One of the key areas for Sundance is the Niobrara. They have some acreage JV'd, some sold with GORR and some acreage reserved for their own drilling. No actual results on Breeden well but looks good so far.
15 March 2012
General Manager
The Company Announcements Office
Australian Securities Exchange
Notable Well Updates
Dear Sir:
Sundance Energy Australia Limited (the “Company”) is pleased to advise the current status of three of
its notable wells.
The Breeden 17-2H, a Company operated horizontal DJ Basin Niobrara well in Laramie County,
Wyoming (SEA 33.75% working interest, 27.67% net revenue interest), was successfully fracture
stimulated and began flowing back on a restricted choke on 13 March 2012.
The Daily 4-12-135, a Helis operated horizontal Williston Basin Three Forks well in McKenzie
County, North Dakota (SEA 34.11% working interest, 27.29% net revenue interest), was successfully
fracture stimulated and began producing hydrocarbons on a restricted choke on 13 March 2012. In the
first 24 hours, the well produced 1,223 barrels of oil and 1,320 mcf of natural gas, or 1,443 barrels of
oil equivalent. The Company anticipates production rates may increase as the well cleans up and the
choke is opened.
The Leon Pecha 1-11H, a Company operated horizontal Anadarko Basin Mississippian well located in
Alfalfa County, Oklahoma (SEA 87.5% working interest, 70% net revenue interest), has been
successfully drilled to its total vertical depth. The Company has gathered initial geologic data needed
to plan further development of its prospect area across multiple vertical pay zones.
Yours sincerely,
Sundance Energy Australia Limited
United States Australia
Eric McCrady Mike Hannell
Managing Director Chairman
Tel: US (720-289-9879) Tel: (+61 8 8363 0388)
Nice find Jeff,tks for posting it!
New 5% shareholder for Sundance (SEA.AX/SDCJF)
An Aussie fund Eley Griffths (About 1.2 Billion AUD under management) has bought over 13.7 million shares of stock, recently. The Form says it was all on 3/7 but not sure if that is correct, since the volume is 2-3 million per day.
http://www.eleygriffiths.com.au/
http://www.asx.com.au/asxpdf/20120309/pdf/424xyzsvwfnlk1.pdf
News on several high interest wells that they are operating, Should come in the next few weeks.
Breeden 2-17H (33%) Fracing prep started. Fracing should start ~3/25ish?
Leon Pecha #1 (70% net interest) Drilling completed started on 2/24 Target reached ~3/20ish?
Daily 4-13-3 (27% net) Target depth reached 2/20 Fracing should start ~4/10ish?
Thoughts?
Best Regards,
Jeff
More good news from Sundance Productions up 8% in Jan
SEA.ax/SDCJF (.665 up 2+% in Australia this Monday Morning)
Jan Operations Update
- Production is up 8% from Dec
- 4 Sundance drilled wells had initial flow rates of 85 Boepd.
(50-100% interest in these wells)
It doesn't sound like a lot, but these are cheap wells to drill and operate (600K to drill)
Lots more news coming in the spring and Summer. They have several large interest wells drilled and awaiting Fracking.
Latest Corp Presentation
Company is moving from a JV partner, to an operator with larger working interests. If they can execute, this year should be a big year! <fingers crossed>
Best,
Jeff
SEA.ax/sdcjf.pk +.02 to A$.66
Dear Sir:
Sundance Energy Australia Limited (the “Company”) is pleased to advise that it has begun drilling the Leon Pecha #1 in Alfalfa County, Oklahoma targeting the Mississippian Lime. Sundance has an 87.5% working interest and 70% net revenue interest in this well.
Very nice. Mississippi Lime oil well with high working interest. Sundance is moving towards higher working interests in both the Niobrara, Mississippia and Bakken wells. 2012 could be a breakout year for Sundance production. Thanks for posting that Bobw
Reap the rewards of this merry dance
Rod Myer
February 14, 2012
* Read later
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INVESTORS often want to find a stock that rockets from nowhere and makes them a fortune. Those situations do happen but you have to be very astute or lucky to get on board. This week the column takes a look at a stock that has already had a big run-up and, after a fall from its highs, may be back on the growth path.
Mark Umansky, a councillor with the Australian Technical Analysts Association and an International Federation of Technical Analysts-approved certified financial technician, guides us along the graph of energy junior Sundance Energy Australia in the search for potential profits.
Sundance rose steadily for 15 months from March 2009 to June 2010. Then it broke out of what had been a steadily rising accumulation band and rocketed from 20¢ to a peak of $1.10 in March 2011. Then things turned around and the stock fell for the next seven months, till it touched 40¢.
Advertisement: Story continues below
Umansky says the fall is not as dramatic as it looks at first blush. First, it fell on relatively low volumes, indicating that the bearish view was not widely held in the market. Then he was reassured by the fact that the stock consolidated above 40¢ and did not go down through either the 30-day moving average of the price (the green line) or the 61.8 per cent Fibonacci retracement level. That level is 61.8 per cent below its previous highs when measured from the bottom horizontal line on the chart and, according to the calculations of technical analysts, staying above that level means the fall is not a complete rout.
For the next four months (October 2011 to January 2012) Sundance's price consolidated within a tight accumulation band, with investors buying around 41.5¢ and selling resistance being struck at 47¢. The double-bottom reversal formation, represented by the two bottoms at about 41.5¢ with the stock bouncing back strongly, was also a sign of strength, Umansky says.
After this short-term consolidation, the price has once again taken off, rising on greater volumes than was experienced in the short consolidation phase. Umansky says the fact that it broke through 47¢ and is now trading above its falling trend line (the downward red line on the graph) confirms that the downtrend has ended and the current commitment from buyers is solid.
''Should current demand prevail, we can envisage that price would rise and test its all-time high of $1.10 per share,'' Umansky says.
For those wanting to take advantage of the situation, Umansky says buyers could enter the market at around current levels of 63¢ and place stop-losses at 40¢ to minimise downside risk. Risk/reward analysis run on the situation by Umansky shows that a 23¢ risk on the shares (the difference between the buy-in price and the stop-loss) can potentially offer a 47 per cent return, or effectively a 200 per cent gain on the money actually risked (again the difference between the buy price and stop-loss.)
Sundance Energy is an oil and gas explorer with assets in Australia and the US. The top 20 shareholders own 55 per cent and the company has a market capitalisation of about $175 million.
Read more: http://www.theage.com.au/business/reap-the-rewards-of-this-merry-dance-20120213-1t25r.html#ixzz1msBtsPdi
SEA.ax/sdcjf.pk this is probably why Sundance has been rallying lately. Brokers were probably telling their customers ahead of the report to buy. Still well below peak of $1+ from last year.
Fundamental news continues to be solid. They still have delays in the Bakken but their Niobrara play looks to be solid and that should dramatically boost production because they are either going to get GORR of about 4% at no further cost to Sundance or they have their own high interest wells that they will drill in 2012 and beyond.
Also coming up is their first horizontals in the Mississippian. They are building an acreage position there(7300acres at last count).
Sundance Energy Australia Started At Buy At Canaccord Genuity >SEA.AU
Last update: 2/14/2012 9:04:51 AM
(END) Dow Jones Newswires (212-416-2400)
February 14, 2012 09:04 ET (14:04 GMT)
Sundance has had a big rally from the lows of late last year. Must have been tax loss selling. Hit a low of .37 on 12/21/11 and it's been up ever since. Nice pop today.
Sundance missed their production guidance badly last year. Certainly the delays in drilling and fracking crews was a big part of the problem. Their non operator status gave them little control of the process.
As part of growth strategy, Sundance is taking on more risk in their Niobrara and Mississippian projects thru higher working interests AND being operator on more wells. This should give them a little more control and allow them to forecast more accurately.
Managing expectations is part of the process of value building for a public company. Hopefully the relatively new CEO can demonstrate that skill.
I still have high hopes for Sundance. They have significant exposure to the Bakken, Niobrara and Mississippian plays. They have demonstrated very good skills at acquiring property early and cheap. Would love to see some good Niobrara results from both their GORR and operated wells.
There is a pinksheet symbol, RDFEF.pk You should be able to buy that online. Current price is .995. Don't know who your broker is but it's probably cheaper to go that route.
Red Fork has a lot of Mississippian acreage and seems to be competent. They should announce full test results on their first couple of horizontal wells very soon.
Good luck. Bobwins
Bob, I see that you also like RFE.AX. I wanted to buy some of that too, but I'd have to call my brokerage to place a buy. I suppose I'm going to have to decide if I want to pay the piper on that one. Usually I don't buy on foreign exchanges because of the fees.
Bob,thanks for the update.Added another 4k shares last week. GL
Sundance has been depressed because they missed their own guidelines for production. The delays in drilling and fracking have hurt them but eventually the wells have to be fracked and completed and brought online. The Niobrara news is getting closer. We have big partners so hopefully they hit and will let Sundance PR the good news. The recent update shows we are close to getting some good wells online and finding out if the Niobrara is for real.
Bobwins
Sundance ,Some nice buying today!
Another place to go for Sundance info is hotcopper.com.au. It's a free board site in Australia and has knowledgeable posters. It's also the place where you can see any filings by the company, since they post them to the ASX first.
Found this stock reading "Seeking Alpha",pretty cool site.New article about small players in the Bakken and Niobra areas of N Dakota.I am currently adding 500 shares monthly as I can.Very nice financials,0 debt.Buying since last December.
2 wells @ 100% hooked up and sales starting yesterday.
Quarterly development report posted.
http://www.asx.com.au/asxpdf/20110809/pdf/4208tk7ffmyn61.pdf
Everything seems to be chugging along on their drilling program, with some delays. I suspect the price of oil and the market panic is pushing this stock down to 60 cents, but I have to think the increase in cash flow, the drilling program and the hope of a NA listing is going to push this stock up long term.
Thoughts?
Jeff
Q4 Activities Report fye 6/30/11
Produced an average of 701boepd for fy 2011, 770boepd in Q4 ending 6/30/11.
Production is up 179% from the 276boepd avg for 2010.
Company continues it's aggressive drilling program. Currently has 23 gross and 2.81 net wells awaiting fracking and completion.
I think two of those wells are vertical 100% wells in Colorado with lower expectations but that means about .81 wells in the Bakken that could mean a big boost for production and cashflow in Q1 ending 9/30/11. .81 X a typical Bakken well at 1000bpd could mean 810boepd of IP for Sundance during Q3.
Production is down slightly for Q4 at 770boepd vs 866boepd last qtr. This is a result of the delays in fracking combined with the normal production declines of the producing wells. This is a good example of the consequences of the high IP but rapid decline of horizontal Bakken wells. They need to keep drilling and completing to increase production.
Oil price rises still allowed gross revs to rise from 5.5million to 6 million for the qtr.
Q1 should be a good qtr as the industry recovers from a brutal winter in the Dakotas and catches up on the backlog of wells to frac.
http://www.asx.com.au/asxpdf/20110729/pdf/4202464xk9yjhh.pdf
This presentation was great. Thanks for sharing. I am excited to see where this company goes. Nice to see all the shale plays in there.
Re: Sundance Presentation From theenergy board
http://www.asx.com.au/asxpdf/20110614/pdf/41z6kn60wkpnnt.pdf
I also think that management touting 100M credit line in the US is significant because:
- No dilution coming: between cash being generated and the credit line they should be able to fund all of the foreseeable growth with out dilution.
- North American exchange listing is still on target for this year.
With oil prices and the new wells as an operator, below a dollar is going to look cheap in 6 months, I believe.
SDCJF added more today,again!
I hope it's in because i added more today!
Where is the bottom ?????
Oversold here imo,i may start to add a few more here.
No news on Sundance...
The last ASX filing was the quarterly last week. No major issues with it that I saw.
Should have a development update out soon, as they seem to publish one about every 30 days, but with the bad weather it might not be great...
I'm still hopeful for a North American listing to push us back up...
FWIW,
Best Regards,
Jeff
Anyone know the cause of the sudden fall of this stock? Did i miss some relevant news?
New Quarterly financials just posted
http://www.asx.com.au/asxpdf/20110429/pdf/41yc34vyj1ht2x.pdf
Makes me want to buy more :)
A few quick highlights:
- Net sales from O&G increased 210% YOY and 31% QOQ
- Operating income increased 508% YOY and 85% QOQ
- Production Expenses and Admin exp decreased 55% and 59% QOQ
- Capx increased 286% YOY and 53% QOQ
- Cash decrease by about 5M from 32M to 26M
- Slight missed in production 866 instead of 917 boepd. Company cited bad weather in the west.
- The company is pursing a North american stock exchange listing!
It looks to me like operating income is beginning to fund capx reducing the draw on cash, and/or allowing the company to spend more for drilling. Management is wisely hedging and locking in higher oil prices out into 2012.
Not sure why production cost are down, perhaps older wells? Bob?
Overall to me a good report and no surprises. Should have a production and development report out in a week or two with more new production.
Thoughts?
Jeff
Man the low .70 cent is wrotJMHOe all over this if not lower.JMHO
I would assume that the 30 day rate is cumulative of all production thru 30 days.
Estimating a daily rate after 30 days is tougher. I would guesstimate based on the slope of the IP, 7 and 30 day rates. We know these wells decline rapidly.
I would go to Sundance's website. They should have a graph of a typical Bakken well as it moves thru it's production life. They should also have an average EUR for each well.
Bobwins
Bobwins Questions on Sundance development/production?
I'm going back through the development updates and trying to follow each well's development and flow rates. The company has been good about posting at least one every month but not the format is easily sortable or always easy to spot all the changes.
I'm doing it in Google docs, so I'll be happy to share to the board once its complete. But a few questions...
Is the IP, 7 day and 30 day, cumulative of what has flowed so far?
How would you estimate a daily rate after 30 days is reported?
Based on the interest % how could you estimate the production value going forward, or even net value for the life of the well?
Thanks,
Thoughts?
Best Regards,
Jeff
Latest Development update 4/8
ASX:SEA/PINK:SDCJF
Sundance posted a development update on Friday.
Helis O&G added a second rig on the South Antelope prospect (Bakken Formation) which is good news. They also continue to state that they are expecting to drill 115 gross wells this year.
Looks to me like Sundance is just chugging along, although the share price is a dropping a back little to .90 down under today :(
http://www.asx.com.au/asxpdf/20110408/pdf/41xycyrj7g7q1q.pdf
Thoughts?
Jeff
latest presentation
Permitting 11 wells in Niobrara for themselves. Noble and Halliburton are permitting their own wells. Atoka will have seismic done in mid 2011 for proving up resource. Drilling late 2011 or early 2012.
http://www.sundanceenergy.com.au/2011/03.07.11-SEA%20March%20Roadshow%20Presentation.pdf
latest development update
http://www.asx.com.au/asxpdf/20110325/pdf/41xnj4nhv77npr.pdf
Here are the recent wells, their WI%, net IP production & 7 day production
Denison1-10 12.50% 15bpd Pawnee well
Mandaree9-04H 10% 121bpd
Bear Den 4-20H 9.95% 147bpd/135bpd
Bear Den 007-17H 9.56% 179bpd/113bpd
Henderson 16-34H 6.79% 65/60bpd
1-H Sandhill 25-36 2.19% 20/16bpd
Hodenfield15-23H 1.98% 23/21bpd
As you can tell, this was an excellent report
Add up the IP production rates and Sundance nets 570bpd. As you can tell, 7 day rates don't drop that much.
Yeah, $ 1.60 is coming soon.
I see an unfilled gap at the 0.72 - 0.75 range.
HH
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Sundance Energy is an Australian company that has multiple prospects in the US and is focused on shale. They have assembled 148,000 net acres in the Bakken, Niobrara/DJ Basin and Illinois Basin.
Sundance's business plan is to get in early and cheap and let others derisk the play, selling off interest along the way and having others carry Sundance to production. As land values rise, Sundance continues to sell off interest to finance drilling and more land acquisition.
Company has demonstrated that they can execute this strategy and is in the midst of monetizing their Bakken interests into production with minimal risk.
Here is the latest presentation:
http://www.sundanceenergy.com.au/2010/ASX%20Releases/08.02.10-Corporate%20Presentation.pdf
Here are company basics:
238million shares outstanding
Listed on ASX in Australia as SEA.ax. Fully reporting with qtrly statements as well as monthly updates reviewed and approved by ASX.
Company website: http://www.sundanceenergy.com.au
50 well drill program for 2010. Many of the wells are in the process of being drilled or completed now. Latest report had 28 wells in the process of being drilled, completed or tested.
Sundance started the year at around 350boepd. Should exit at 900boepd. This is company guidance but based on early results, guidance appears conservative. Company is around 750boepd now and JV partner AEZ just reported a big 3000boepd well that should add 100boepd to Sundance's totals and get them to 850boepd. These Bakken wells drop off quickly so Sundance will have to keep drilling to avoid declining production.
Sundance has 8500 net acres in the Bakken and 40 of the 50 wells will be drilled in the Bakken. Most are low working interest wells but are being drilled by Bakken heavyweights like EOG and AEZ/Hess. Sundance secured the land and then sold off majority interest to these bigger players.
Later in 2010, Sundance will start drilling their land in Colorado that is prospective for the newest shale area in the US, the Niobrara. The early results are similar to the Bakken and could become the next big shale area. EOG and other big names are moving in but Sundance has a large land package in good areas. They also hold much higher working interest of 40 to 80%. They will likely sell off some of this interest to help finance the drilling.
Sundance recently updated their reserves. They have PV10 proved and probable of $99 million based on less than 5% of their net acres and NONE of their Niobrara land.
http://www.asx.com.au/asxpdf/20100802/pdf/31rnx3ctd6xx88.pdf
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