The Board of Directors of Sundance Energy Australia Ltd (“Sundance” or the “Company”) is pleased to provide the following Company update. As was announced on 29 November 2011, in order to ensure the continuing best interests of its shareholders, the Company’s Board of Directors recently completed an Independent Review of its composition, structure and administrative policies with the aim of implementing appropriate changes over time, commencing with the appointment of Eric McCrady as Sundance’s Managing Director. As part of that continuing implementation and in light of the Company’s wide ranging development efforts being located in the United States, the Board has engaged an executive search firm to assist it in identifying US based Non Executive Director candidates. The goal is to strengthen the Board’s composition by appointing an individual with extensive industry experience in the US. Concurrent with this effort, Reg Nelson has informed the Board that he wishes to resign his seat in order to concentrate on his many other responsibilities, principally as Managing Director of Beach Energy Limited. The timing of Reg’s resignation will be announced in due course.
SEA Price at posting:
53.0¢ Sentiment: LT Buy Disclosure: Held
