core sector communique

Sundance to appoint Reg Nelson as a Director

 

US-focused oil and gas developer, Sundance Energy Australia Limited (ASX: SEA) is very pleased to announce that Australian oil and gas industry leader Reg Nelson has agreed to join the Board as a non-executive director. The effective date will be announced separately.

 

Mr. Nelson is Managing Director of Beach Petroleum (ASX: BPT), with which Sundance recently signed an MOU to jointly identify, evaluate and potentially acquire new unconventional oil and gas assets in Australasia and, possibly, in other parts of the world.

 

He has a career spanning nearly four decades as an exploration geophysicist in the minerals and petroleum industries. He is a member and previous Chairman of the peak industry organisation, the Australian Petroleum Production and Exploration Association (APPEA).

 

Speaking at the Company’s AGM in Adelaide today, Sundance Chairman Mike Hannell said Mr. Nelson’s technical and corporate experience will add value to the Board and shareholders.

 

“Reg’s knowledge of oil and gas plays in Australia will allow us to further leverage our expanding US asset base, as well as identifying and exploring local opportunities here through the recent agreement with Beach,” Mr. Hannell said.

 

“This appointment adds significant depth to the Sundance Board and leadership team, and, following the signing of the MOU, further strengthens our relationship with Beach in a manner that will benefit shareholders of both companies,” he said.

 

Mr. Nelson said he was pleased to join the Sundance Board.

 

“Sundance has a proven track record of identifying shale opportunities in the US market at an early stage, developing them and then bringing in larger partners to achieve positive economies of scale. Beach is excited to be in business with Sundance,” Mr. Nelson said.