2 March 2010
Goliath Drilling Program Update
The following release was issued on 25 February 2010, by Sundance Energy Australia Limited’s partner in the Company’s Goliath Prospect located in
Sundance has a 5% equity interest in the Goliath Prospect Joint Venture with American Oil & Gas; American owns 95% and is the prospect’s operator.
American Oil & Gas Inc. Updates Bakken And Three Forks Goliath Project
(Nabors Rig 486 Under Contract For Continuous Drilling Program)
The Tong Trust 1-20H well, located in Sections 17 and 20 of T157N-R96W, Williams County, ND, is scheduled for completion operations to commence in early March. This well is being drilled, completed and funded under the terms of a previously announced participation agreement. The casing, and the associated completion assembly have been set which will facilitate up to 26 fracture stimulation stages in the Bakken formation.
In other Goliath activity, American and Sundance are participating with an approximate 6% working interest in the outside operated Heidi 1-4H well, which is located on the western edge of the Goliath project area, in T156N-R99W, Section 4. The Heidi well commenced drilling on February 5, 2010 and is permitted as a horizontal test of the Three Forks formation. Log and core data from both the Bakken and Three Forks formations is expected to be obtained before horizontal drilling takes place. This well is spaced on 640 acres.