Sundance Energy To Expand Saskatchewan Project By 42,800 Acres

To acquire additional 42,800 acres to its existing permit and JV farm-in in SK.

Sundance Energy Corp., Calgary, (Toronto Venture: SNY) plans to acquire additional lands to its existing permit and joint-venture farm-in in Saskatchewan from Muskowekwan Resources Ltd., general partner of the Muskowekwan LP and the Muskowekwan First Nation, for approximately C$275,000 in cash and stock.

Sundance paid C$25,000 in cash and plans to issue 100,000 Sundance shares and 100,000 common share purchase warrants exercisable at a price of C$0.24 per share for a two-year period.

The new lands consist of approximately 42,800 acres of which 27,600 acres are treaty land entitlement lands and 15,700 acres are pre-reserve lands. Including these lands with the existing 15,500-acre home reserve, a positive designation vote will bring the total land package subject to the joint-venture farm-in agreement to approximately 58,300 acres. This is approximately a 3.5-fold areal increase from the original home reserve landholdings.