Ann: Investor Update , page-19

texon ticks a lot of boxes imho


Sundance

• Ended the year in a strong financial position
with a cash balance of $15.3M and a $100M
senior debt facility in place.

• Subsequent to yearend, entered into an agreement
for the sale of our South Antelope prospect
in the Williston Basin for $172.4M in cash.

Focused Strategy

The Company is focused on the exploration,
development and production of large, repeatable
resource plays in North America. Our strategic vision
is to develop those assets where we are operator and
have high working interests thereby allowing us to
control the pace of growth of our projects and the
allocation of our capital resources.

In line with this strategy, Sundance divested
non-core assets including the Arriba prospect and,
subsequent to yearend, entered into an agreement for
the sale of our interest in the South Antelope field.
The Company has a proven track record of generating
and monetising significant value from its projects.
Arriba and South Antelope were projects which no
longer fit our growth strategy and their sale delivered
the Company net proceeds of over US $175 million.

These funds will be channelled into our existing
portfolio of high-interest, Sundance operated projects,
along with potential acquisition opportunities that fit
our strict investment parameters.


later on............


We have proven our ability to generate organic growth, and will continue to grow organically, but the proceeds from this sale give us a unique opportunity to pursue a wide range of merger and acquisition opportunities with the
potential to rapidly change the Company’s portfolio
and growth profile.

We have been evaluating opportunities to enter an additional basin that has proven developmental
drilling coupled with the ability to unlock additional
value through operations and exploration. A likely
acquisition target will have existing production and
significant development opportunities to grow production, cash flow and reserves.