Sundance Energy (SDCJF)

[Bobwins]

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