There are a lot of high valuations floating around (including...

There are a lot of high valuations floating around (including from analysts) - This can only mean one of two things:
We are "ahead" of the market and other investors are overlooking this, OR, SEA has skeletons in the closest.

I am hopeful it is the former but can't yet rule out the latter.

I strongly urge other shareholders to email something along the following lines to Eric to help us rule out any unexpected surprises and ensure he is held to account (for the high pay packet he receives from our business). Furthermore, and pursuant to the ASX Listing Rules - we are entitled to continuous disclosure in relation to these matters.

The recommendation of the Royal Royal Commission into Misconduct in the Banking, Superannuation and Financial Services included stronger ASIC enforcement - and as shareholders we deserve to be updated in relation to the below.
_______________________________________________________________________________

We write to seek information in relation to the following (pursuant to the ASX continuous disclosure Listing Requirements):

• In relation to the ‘SUNDANCE ENERGY AUSTRALIA LIMITED QUARTERLY ACTIVITIES REPORT’ released to the ASX 1February 2019:

1. 1. It is noted that the Harlan Bethune 22H and Harlan Bethune 24H from Live Oak showed an IP date of 15 December 2018 but a 30 day IP of nil. Can you please confirm whether these were unsuccessful wells / why the IP is shown as nil?
   2. The announcement mentions that the Company’s higher production volumes have resulted in increased line pressure and capacity constraints at a third-party gas processing facility. Please confirm what is the expected capital cost to SEA to resolve this capacity constraint?
   3. The announcement shows an expected cash outflow for development of $55 million for 6 wells that are to be drilled. It is understood that that the cash outflows may relate to accounts payable. Can you please confirm the capital cost for completion of a SEA well?
   4. Please confirm when SEA will hold the conference call pertaining to results from Q4 2018.

• SEA has indicated that it is in the process of evaluating its 2019 development plan (and has scaled back Q1 production) due to weaker commodity prices. With respect to this:
  1. Please confirm whether SEA is seeking to hedge commodity prices prior to committing to further drilling. If so, please confirm at what WTI price range SEA is targeting (such that it is able ramp up development).
  2. Please confirm (if possible) how many wells SEA would be looking to develop at the WTI $60 scenario.

• SEA has indicated that it wells are outperforming expectations. Please confirm what impact (if any) this has on the expected EUR / well. (I.e. Does SEA expect a constant EUR, with higher than expected decline rates offsetting the higher than expected initial production, or does SEA envisage an increase in EUR – if so, to what extent)?

• It is noted that SEA has hedges of WTI 1,070,000 bbls at a ceiling of $65.67 and a floor of $59.82. Please confirm whether SEA has the flexibility to (and is in the process of) accelerating the consumption of this hedge in Q1 to ensure that the majority of the early Q1 production was matched against the hedge book (given the significantly weaker commodity prices at the start of Q1).

• Please confirm when the next bi-annual redetermination of the Reserve Based Loan is and whether SEA are expecting another increase in the revolver?

• Please confirm the following with respect to the Second Lien Term Loan:
  1. What is the current Total Provide PV9 for the purposes of this loan
  2. What is the current ratio of Total Proved PV9 to Total Debt?
  3. Has this covenant been breached during this quarter?

We look forward to a prompt response.