Key Developments: Sun Resources NL (SUR.AX)

SUR.AX on Australia Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Sun Resources NL confirms significant oil discovery adjacent to Sun’s Jack Howe #1H
Sunday, 14 Sep 2014 06:00pm EDT 

Sun Resources NL:Announces that EOG Resources Inc., (EOG) has reported a 24 hour flow rate for the Zeus #1H horizontal Lower Woodbine well, adjacent to the east of the Jack Howe #1H well location within Sun’s Normangee Oil Project.Sun (50 pct. WI and Operator) has contracted the Nabors Drilling USA LP Rig #53 to re-enter the existing vertical pilot well bore at the Jack Howe #1H well location and operations have commenced there.  Full Article

Sun Resources NL announces commencement of drilling at Jack Howe #1H lower woodbine lateral
Wednesday, 10 Sep 2014 06:30pm EDT 

Sun Resources NL:Says that drilling operations have commenced at the Jack Howe well location within Sun’s Normangee Oil Project.Sun (50%WI and Operator) will execute the drilling program using the Nabors Drilling USA LP Rig #53 to re-enter the existing vertical pilot well bore at the Jack Howe well location.The initial steps of the drilling operation will include setting up over the well location and re-entering the existing, cased vertical well bore.Drilling out the cement plugs and drilling a new deviated well bore to build angle toward horizontal.Continuing to drill the well in a northerly trajectory to drill and case about 5,500 feet (1,676 meters) of horizontal well bore.  Full Article

Sun Resources NL announces A$10 mln capital raising
Wednesday, 27 Aug 2014 07:21pm EDT 

Sun Resources NL:Announces details of A$10.0 mln capital raising comprising A$4.0 mln institutional placement and A$6.0 mln pro rata renounceable rights issue.Rights on a one for five basis to be underwritten to an amount of A$5.25 mln.Says Patersons Securities Ltd has been appointed lead manager and underwriter to capital raising.Placement and rights issue will be undertaken at an issue price of 1.0 cent (A$0.01) and each will have one for two free-attaching option exercisable at 2.5 cents (A$0.025) on or before date which is 3 years from date of issue.  Full Article

Sun Resources NL announces resignation of managing director
Wednesday, 9 Jul 2014 07:12pm EDT 

Sun Resources NL:Says that Govert van Ek has advised Sun of his resignation for personal reasons effective July 10.van Ek, an engineer by profession, has served as managing director and ceo of Sun since March 20, 2013.Matthew Battrick, general manager (technical) has agreed to assist the company as interim CEO while search for permanent replacement is conducted.  Full Article

Sun Resources NL announces acquisition of new 10,028 acre Eagle Ford and Austin Chalk play
Monday, 26 May 2014 07:13pm EDT 

Sun Resources NL:Enters into a transaction with Ursa New Ventures LLC, a subsidiary of Ursa Resources Group II LLC.Says it has purchased a 50 pct non-operated working interest in a gross 10,028 acre package of oil and gas leases (5,014 acres net to Sun) within the developing Eagle Ford Shale and Austin Chalk formations, located in Bastrop County, Texas, USA (the Badger Oil Project).Remaining 50 pct WI will be retained and operated by Ursa.Badger Oil Project area is located in Bastrop County, on trend with the Eagle Ford Shale unconventional oil play.Sun and Ursa are planning to spud the first horizontal, multi-staged, fracture stimulated well before the end of Nov. 2014, to test the commercial oil potential of the Eagle Ford and the Austin Chalk formations.Says it will acquire its new lease interests with existing cash and will hold a 50 pct WI in all leases, which hold rights to all depths and all formations and have ~1.5 years remaining of the initial three-year term.All leases have an additional two-year extension option and the oil and gas leases deliver a 75 pct net royalty interest (NRI) to Sun.  Full Article

Sun Resources NL does not recommend interim dividend
Thursday, 13 Mar 2014 05:31pm EDT 

Sun Resources NL:Says that no dividends have been declared, provided for or paid in respect of half-year ended Dec. 31, 2013 (June 30, 2013: none).  Full Article

Sun Resources NL To Raise $6.3 Million To Fully Fund Multi-Well Drilling Programme
Tuesday, 5 Nov 2013 06:10pm EST 

Sun Resources NL announced that it has resolved to raise in the order of $6.3 million by way of a placement of new shares at 3 cents per share (Placement). Hartleys Limited and Bell Potter Securities Limited are Joint Lead Managers in respect of the Placement. This Placement will ensure that Sun will be fully funded for its upcoming multi-well programme which includes 3 new horizontal wells into the Woodbine Oil Formation across Sun’s lease portfolio in Leon and Madison Counties, Texas.  Full Article

Sun Resources NL Does Not Recommend Dividend
Sunday, 22 Sep 2013 06:37pm EDT 

Sun Resources NL announced that no dividends were paid or declared during fiscal 2013 or subsequent to the year end.  Full Article

Sun Resources NL Announces Ownership Interest Of Amerril Energy LLC
Wednesday, 14 Aug 2013 05:16am EDT 

Sun Resources NL announced that Amerril Energy LLC holds 291,959,077 person's votes which represents 11.99% of the voting power of the Company.  Full Article

Sun Resources NL Completes $13.5 Million Capital Raising
Thursday, 8 Aug 2013 07:00pm EDT 

Sun Resources NL announced the capital raising of $13.5 million via private placement with a wholly owned subsidiary of Hancock Prospecting Pty Ltd, representing an 18.48% interest in Sun Resources’ share capital upon completion of the placement. The private placement of 450 million new shares at an issue price of AUD0.03 was completed under the Company’s 25% placement capacity in accordance with ASX Listing Rule 7.1. Settlement occurred on August 8, 2013, with quotation on the Australian Securities Exchange (ASX) anticipated to occur within the next three business days.  Full Article

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