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Sundance Energy Announces Alliance with Beach Petroleum
Thursday October 22, 2009, 9:35 am

Original Announcement: Beach and Sundance Alliance

Sundance Energy and Beach Petroleum announced that they have entered into a Memorandum of Understanding to enable the companies to work collaboratively in identifying, evaluating and acquiring interests in unconventional oil and gas plays in Australasia and, if agreed, other parts of the world. The alliance will target unconventional assets, specifically shale prospects in which Sundance has had extensive experience in the North American market. Beach has also agreed to subscribe for 17.5 million Sundance shares at $0.135 per share to provide Sundance with an additional $2,362,500 to develop its asset base and to pursue new opportunities, including those arising from the strategic alliance. Following the placement, Beach will hold approximately 9% of Sundance's expanded share capital.

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