Thursday, October 22, 2009

BEACH AND SUNDANCE FORM AN ALLIANCE TO PURSUE UNCONVENTIONAL OIL & GAS ASSETS

 

 

HIGHLIGHTS:

Sundance and Beach sign MOU to form strategic alliance to jointly identify, evaluate and potentially acquire new unconventional oil and gas assets in Australasia.

The alliance will target unconventional assets, specifically shale prospects in which Sundance has had extensive experience in the North American market.

The parties have also agreed where relevant to share information concerning technology developments.

Beach to invest AU$2,362,500 in Sundance by way of private placement.

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