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57% net vol. sales increase over last year, yet lower income... I can't figure if that's being dumb or not as in 'oh let's sale more oil and NG to take advantage of lower commodity prices'... I think a lot of companies are in that ride... but others diluted O/S with offerings ... did Sundance, lol, I don't know...
Form 6 blah blah referencing announcement not for distribution in USA... lol ... silly regulations...
Sundance acquires Eagleford acerage looking promising if they drill and produce... just started looking at... http://www.bloomberg.com/news/2014-05-28/sundance-energy-to-look-at-eagle-ford-deals-up-to-200-million.html
Very nice...seems like some of these plays are testing highs so we'll have to see if we get follow-through to break them or if these high-volume days are signaling a top (again). Breaking these resistances will be BIG.
Big move in Australia last night. +.08 to A$1.12
close to 52wkhi of A$1.13
high volume of 3.8million shares traded
Good luck to you also, but I think you made a big mistake. The quarterly was full of news...all of it good. Eventually the fundamentals will force the share price up....way up.
I just sold my position as the only news you get from this company is notice of yet another share offering.
Good luck
futr
New quarterly out...great as always, and share price barely budged. 5000 BOE by end of next quarter I think. EFS looks great as expected, jury still out on Mississippian and Woodford in OK. No way this should be trading under a buck.
I don't think there has been heavy dilution. They acquired an asset at a great value which created long term value, that is not dilution. The present share offer is dilution, and although minor, has obviously created much ill will. However, the fundamentals haven't changed and this company is poised for greatness. I am very bullish.
While I agree Today's low price is a compelling opportunity to buy-
and am considering it,amongst5 other opportunities,
I'm convinced the reason the price dropped as much as it did was the recent financing and the 20% discount to the market at the time of the offering.
Think about it.How much of the selling pressure was from buyers wanting to participate in the secondary offering who had substantial stakes worth significantly more?
I am a long,but have traded this stock as a result of the volatility created,for the most part,as the result of heavy dilution.
futr
I don't agree. Everything management has done lately has added tremendously to the long term value of the company. The present short term drop in share price has been maddening, but I'm willing to wait and see what their plan is while drilling continues on all fronts. This is a great time to buy.
SEA.ax...not thrilled with yet another offering @ ~20% discount!
Management doesn't seem to give a rats ass about the average shareholder!
Come to think about it every single australian listed company I've ever seen operates the same exact way!
futr
SEA.ax halted in Australia until 5/31/13. Sounds like a placement but they don't seem to need the money unless they are intent on buying more land in EFS. 7,000 acres isn't that much, although it's obviously expensive now.
Fantastic initial result for first well in EFS as operator.
I like everything this company has done....can't believe the share price still languishes. We should have some big numbers by 3rd quarter, but really need the US listing.
Operations Update-
http://www.asx.com.au/asxpdf/20130429/pdf/42fj2xr93hb6nw.pdf
futr
Sundance Energy' Quarterly Status Report-
http://files.shareholder.com/downloads/AMDA-WAFII/2462366723x0x658238/607eedfe-3ce4-4128-a9f7-8eb995217e17/1216521.pdf
Some pretty astute 'horse trading' going on here.
Aussie Court approves the approves the Demerger & acquisition
I agree I'm holding as well.
I'm wondering if Sundance and Texon will be in a quiet period now until everything is final, or if we might see a production update before March 8th? Kightlinger 19-3-8-1 was the Mississippian well that had a bridge plug put in to reduce the water flow and they said in the preso they has a significant increase in oil production. A high WI% well in there Mississippian acarage would be great new too!
TXN: Federal Court approves Schemes
TXN: Demerger and Aquisition Schemes effective
I am holding either way. This is the prize we have been waiting for.
Eagle Ford Shale is highly sought after and Sundance got 8,000 acres at a steep discount. We should have great drilling news for the rest of 2013 and beyond. Can't wait to see market reaction when we announce production of 2500boepd and then progressively higher as we drill out the EFS and reach 5,000boepd by 12/13.
Texon Shareholders approved Sundance acquisition today.
Court should approve Weds. Then implementation date is March 8th. I'll be looking to pick up more shares if folks sell on the news or the increase in numbers of outstanding shares. But I don't think that will happen.
TXN: Results of Shareholder meetings
Thoughts?
Jeff
Watch that 200 MA closely it attracts the PPS IMO. It seems like March 2011 all of a sudden.
Sundance announced last night in Australia that they had added a few acres to their Wattenberg acreage. They paid 14 million cash. Sounds like it is near their existing Wattenberg land. Sundance is only drilling vertical wells there now, which are very cheap and quick to drill and complete. The well start out in the 100bpd range and drop back to 35 to 50bpd over time. Very economic due to the low cost of drilling.
Sundance does have plans to drill horizontally in the area but may need to pool land with nearby neighbors to make the best use of the land due to the long horizontals that are typical.
Sundance still has most of their cash from the sale of South Antelope. They reported 163million before this purchase. They could be waiting to see if the Texon merger closes before making another big move. Texon deal could get other bidders.
If they can close the deal, it will be a good deal for Sundance. They bought prime oily Eagle Ford Shale land for less than 10,000 per acres, which is about 1/3 the going value. The need to drill to hold leases was a big negative and one of the reasons Texon had to sell. The leases are coming due and the drill program will have to be aggressive to hold the acreage.
It all depends how enamored you are with the Eagle Ford. I think its a solid move but I don't care for the dilution. It allows them to keep a bundle of cash, so look for another move. If the Mississippian pans out then they are sitting pretty, but that is far from a given.
Merger with Texon (ASX:TXN/PINK:TEXOF)
Sundance - Texon Merger Presentation
- Dilution 2:1 stock payout to Texon Shareholders (~127 Million new Sundance shares will need to be issued)
- Paying a 14% premium for a stock which has been collapsing since April and near its 52 week low.
- Not getting the entire company to boot? All non Eagle Ford shale asset to be spun off into a new company?
Basically its 104M in Stock for 7000+ WI in Eagle ford Shale.
Texon EGM Presentation - 31 August 2012
June 2012 Quarterly Report
Outlines Texon's plan to sale the EFS assets and their production and cash.
Maybe I'm missing this, Sundance management must see good value here (I hope). But I hate the dilution...
Thoughts?
Jeff
Activities & Cashflow Reports for 30 September 12 Quarter
Activities & Cashflow Reports for 30 September 12 Quarter
Good Report for Sundance. It looks to me like they are right on plan.
- 163 Million in cash
- growing through the drill bit
- Profitable
I'm looking forward to seeing the production reports on the Anadarko Basin wells that are drilled, frac'd and being tested.
Looks good to me.
Jeff
Looks great. Poised to become a major player.
Annual Report to shareholders
http://www.asx.com.au/asxpdf/20121018/pdf/429gk0pvx3l72y.pdf
Presenting at Canaccord Genuity Global Resources Conference
http://www.asx.com.au/asxpdf/20121016/pdf/429dr15wtxgvfw.pdf
SDCJF not sure why we are still stuck in the .70's but i may add more here soon.
Well, I think the US listing is key and hope they make it a priority. I am also very puzzled why the price hasn't moved, but I'll add if it stays here. Good luck.
Re: Sundance
Well the price is not moving and there is enough volume on the ASX for me to rule out small time market makers playing with the stock.
I agree the stock is undervalued the question is what will it take to get the stock to move and can the company execute to make it happen?
Happy to hold hear as I have a lot of early buys. But I'm too puzzeled to add on any more in the .70's
Jeff
Thoughts? Are you serious? This is amazing!!!!!!! A US listing will send this stock flying. I keep expecting something negative to surface but it just keeps getting better. Sitting on $145,000,000 cash with decent remaining production and some great properties. SSN trades at over $1.00 and have done nothing other than sell some land to CHK, and this stock trades at .80? Unreal.
Mentioned in Bloomberg article As a potential takeover target
Shale Takeovers Looming as Texas Discounted in Australia
The article is about takeover speculation of Australian companies
"Hartleys Ltd. Adelaide- based Sundance Energy Australia Ltd. (SEA), which last month agreed to sell a North Dakota asset for more than the company’s market value at the time, could lure bidders with its remaining acreage that’s worth at least five times more than what’s reflected in the share price, said Bell Potter Securities Ltd."
The article also meations the Eley Griffiths Group Pty. who is one of the group's who have been accumulating Sundance
(They own 6%+ as of this ASX filing)
This has not seemed to impacted the price overnight, but the volume is significantly lower than usual.
Hopefully this is a start of another significant leg up for the stock.
Thoughts?
Jeff
Sale complete 172.2 Million gross received
$172M Sale of S. Antelope Field complete
Press release
"The company has now received gross proceeds of US172.4M"
The good news keeps coming. They have the cash now lets look forward to more drill success.
How many micro-caps get this much cash to grow? its a Rare opportunity I think.
Thoughts?
Best Regards,
Jeff
They have delivered big time in the last year or so. I can't believe the stock went down today, it just doesn't make sense. when the SA sale closes...watch out... amazingly undervalued.
New Reserve evaluation 112% increase in Proven Reserves
June 30 2012 reserve report
Sundance announces "Significant uplift in reserves." Comparing it to last year's reserve report, I'm not sure I agree.
- They were calculating the value at $84-88 vs $95 in 2012
- Including S. Antelope the PV10 reserves only increased %63
(From from 4,890 to 7,979 Oil (mbbls))
June 30 2011 report
Overall I still like this stock, but I cannot figure out if this change is really significant or just hype?
Thoughts?
Jeff
The U.S. MMs are making a killing selling these shares to U.S. buyers-
Yesterday over 6,000,000 shares changed hands in Australia under .75! Some at .72.
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=SEA
futr
Virtually everything this company does seems to be successful, very undervalued in my opinion.
10% Deposit provides reasonable certainty of transaction closing
Sept.2012 Corporate Presentation-
http://www.asx.com.au/asxpdf/20120907/pdf/428kvy33047pbz.pdf
futr
September investment presentation
ASX Presentation
Page 23 has a good summary of the news pipeline over the next 12 months. One thing remember is that Sundance's fiscal year ended June 30th, so we are already well Into fiscal year 2013/Q1, so expect to see a good number of press releases in the next four weeks.
Slide 26 shows the downward revision of production due to the South antelope sale. The rationale for the sale makes sense of course but it is going to cost them some momentum on growing production this year.
Slide 30 has some good visual representation of current drilling operations in the Mississippian, but it appears based on their projections on slide 26 that they don't expect anything to surprising.
Overall, I still think Sundance is a very good "story", with a lot of new still in front of it.
Thoughts?
Jeff
Sundance: (SEA.AX/SDCJF.PK) Added to S&P/ASX 300
ASX Press Release
"The S&P/ASX Mid-Small index is composed of companies included in the S&P/ASX 300 that are not included in the S&P/ASX 50. The index represents a combination of the S&P/ASX MidCap 50 and the S&P/ASX Small Ordinaries, covering approximately 18% of Australian equity market capitalization."
From Standards and Poors
This should give Sundance more visibility and perhaps even greater volume as people try to mimic the index.
Thoughts?
Jeff
I'm pretty sure I remember they sold at least some of their position last year.
Anyone know if Beach Petroleum remains a significant share holder,and,or partner with Sundance?
tia,
futr
Outstanding Terms of Sale!
Thanks for posting-
5000 BOE/Day projection within 24 months is what caught my attention originally, leading to my steady accumulation.
futr
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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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