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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