Daily Archives: May 16, 2017

Aptean Strengthens ERP and SCM Solution Suite with Acquisition of Apprise

ALPHARETTA, Ga., May 16, 2017 (GLOBE NEWSWIRE) — Aptean, a leading global provider of mission critical enterprise software solutions to more than 6,500 customers world-wide, announced today the acquisition of Apprise, a leading provider of Enterprise Resource Planning (ERP) and Supply Chain Management (SCM) solutions for importers and distributors of consumer goods.

For more than 30 years, Apprise has focused on helping consumer goods companies improve supply chain efficiencies and increase profits. Apprise provides cloud and on-premise ERP and SCM software solutions for financial management, CRM, distribution, demand planning, and warehouse and transportation logistics management capabilities designed to meet the evolving needs of its consumer goods customers and their complex supply chains.

“Apprise has built a comprehensive set of industry-focused enterprise software solutions and a reputation for great customer service and experience,” said Kim Eaton, Aptean CEO. “We look forward to working with the Apprise team to build on their current success in the consumer goods industry and to help accelerate their growth.”

“We are excited to join Aptean and leverage their scale in markets where we see opportunities for growth,” said Jeff Broadhurst, Apprise CEO. “Apprise will benefit from Aptean’s global presence and best practices as we continue to bring new innovation to our customers.”

ABOUT APPRISE
Apprise is making business management better for consumer goods distributors. Founded in 1984, Apprise creates integrated Enterprise Resource Planning (ERP) and Supply Chain Management (SCM) solutions for companies all around the world. With headquarters in Bethlehem, PA and offices in Europe, Australia and China, Apprise is focused on working with local, regional and global distribution businesses — helping them become more efficient, and more profitable. For more information, visit www.apprise.com.

ABOUT APTEAN
Aptean is a leading global provider of mission critical enterprise software solutions. We build and acquire industry-focused solutions to support the evolving operational needs of our customers. Our solutions help nearly 6,500 organizations stay at the forefront of their industries by enabling them to operate more efficiently, thereby ensuring higher customer satisfaction. For more information, visit www.aptean.com.

Aptean is a trademark of Aptean, Inc. All other company and product names may be trademarks of the respective companies with which they are associated.

FOR MORE INFORMATION

Media Relations 
Melissa Floyd, Aptean 
melissa.floyd@aptean.com

Tony’s Chocolonely Expands Internationally with the Descartes Global Logistic Network

AMERSFOORT, The Netherlands, May 16, 2017 (GLOBE NEWSWIRE) — Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Tony’s Chocolonely, one of the Netherlands’ leading chocolate brands, is using the Descartes Global Logistics Network™ (Descartes GLN) to support expansion into the United States of America by streamlining electronic communications and order-to-cash processes with retailers.

“To accelerate our mission of making the cacao industry 100% free of slave labour, we needed to grow our business in the USA given the significant demand for chocolate and the presence of key players in the chocolate industry in that market,” said Frans Pannekoek, ‘Bean to Bar tender’ and responsible for the Supply Chain at Tony’s Chocolonely. “Electronic communications standards are different in North American and Europe. As an existing Descartes customer, we were able to quickly augment our existing Descartes GLN deployment to implement the new protocols and message sets to effectively communicate with our international retail and distribution customers in the USA.”

Descartes’ GLN is one of the world’s most extensive multi-modal electronic communications networks, connecting thousands of parties in more than 160 countries. It helps streamline, automate and standardize multi-party buy, sell, ship, and pay processes. These processes can involve a broad range of data elements and business documents that often span the buyer and seller of goods, transportation providers, logistics intermediaries, customs authorities and other supply chain participants across different geographies and levels of IT sophistication. Coupled with Descartes’ extensive experience in on boarding and activing trading partners, GLN customers can quickly benefit from improved operational performance, reduced costs, and the agility to better satisfy customers.

“We’re very pleased to support growth at Tony’s Chocolonely by providing business-to-business connectivity and full visibility of their logistic processes from their operations in Belgium to their retailers in the USA,” said Fred van der Heide, VP Product Management at Descartes. “Growth via international expansion is an important, yet challenging, endeavour for many companies. Descartes’ GLN was designed to help companies manage their global commercial, logistics and customs processes as they grow.”

About Tony’s Chocolonely
Tony’s Chocolonely exists to end slavery in the chocolate industry. The Amsterdam based social enterprise envisions 100% slave free chocolate and grew out to be the second largest chocolate brand in the Netherlands. Tony’s Chocolonely was founded in 2005 by Dutch journalists when they discovered the world’s largest chocolate companies were buying cocoa from plantations that used child slavery. They turned themselves into the police as “chocolate criminals” who had purchased and eaten illegally manufactured products. Tony’s Chocolonely has since dedicated its efforts to educating people about the inequality in the chocolate industry, as well as creating its own chocolate bar as an example of the reality of slave free chocolate. As part of the company’s traceable bean-to-bar concept, Tony’s Chocolonely has built direct, long-term relationships with the farmers in Ivory Coast and Ghana who grow its cocoa to solve the underlying causes of modern slavery.

Learn more at www.tonyschocolonely.com.

About Descartes
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.

Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relate to Descartes’ solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes most recently filed management’s discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Global Media Contact 
Mavi Silveira
Tel: +1(800) 419-8495 ext. 202416
msilveira@descartes.com

Media contact EMENAR
Renate Kok
Tel: +31 33 4606200 ext. 640073
rkok@descartes.com

Business Master’s Degree Not a Substitute for an MBA

New Report Shows Many Candidates with a Prior Business Master’s Degree Are Considering an MBA

RESTON, Va., May 16, 2017 (GLOBE NEWSWIRE) — Three in 4 prospective graduate business school candidates who hold a prior master’s degree are considering enrolling in MBA programs, according to new research from the Graduate Management Admission Council (GMAC). Findings from the Council’s 2017 mba.com Prospective Students Survey Report released today show that the MBA remains the predominant program format considered by candidates with both prior business master’s degrees (61 percent) and non-business master’s degrees (86 percent).

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/0d5fa2ea-6ea2-4f4e-8fcb-38ffc02b4070

“These findings demonstrate that a business master’s degree is not necessarily the end of graduates’ business education,” said Sangeet Chowfla, president and CEO of GMAC. “For many, their business master’s degree is a stepping stone to continued professional development that may include an MBA down the road, in either a full-time or part-time format.”

The findings of the mba.com Prospective Students Survey Report show that globally 22 percent of prospective business school candidates have a prior master’s degree, with considerable regional variation. While 2 in 5 European candidates have a prior master’s-level credential, the same is true of just 14 percent of U.S. candidates.

Key Findings

Demand for Business Master’s Programs Continues to Grow

Fueled by growing candidate demand, non-MBA business master’s programs continue to proliferate. Globally, the percentage of candidates considering only business master’s degrees — such as Master of Finance, Master of Accounting, and Master in Management — has increased from 15 percent in 2009 to 23 percent in 2016. This rise in interest has been particularly strong among candidates from East and Southeast Asia and Western Europe, where now more than 2 in 5 candidates report considering only these program types.

Non-MBA programs and MBA programs attract distinct candidate pools seeking different outcomes. Candidates considering non-MBA business master’s programs skew younger and the majority have little to no prior work experience. Compared with MBA candidates, individuals preferring business master’s programs are more interested in developing their technical skills. MBA candidates are typically older, have more years of work experience, and are more interested in developing their managerial and leadership skills.

International Study Demand Remains Strong

Nearly 3 in 5 prospective business school students (59 percent) intend to apply to programs outside their country of residence, up from 44 percent in 2009. Most candidates seek study opportunities outside their country of citizenship to receive a higher-quality education (63 percent of respondents), to increase their chance of securing international employment (58 percent), and to expand their international connections (51 percent). One-third (34 percent) of candidates who prefer to study outside their country of citizenship intend to seek employment in the country where they prefer to attend school.

U.S. Remains Most Preferred Study Destination Though Candidate Preferences Are Shifting

Consistent with past research, more than 9 in 10 U.S. candidates prefer to study domestically (96 percent). Globally, among full-time MBA candidates looking to study outside their country of citizenship, 58 percent prefer to study in the U.S., down from 61 percent in 2009. Since 2009, there has been an increase in MBA candidates preferring to study in Canada (4 percent in 2009 vs. 7 percent in 2016).

There has been a similar shift in preferred study destinations among non-U.S. candidates interested in business master’s programs. In 2016, 47 percent of non-U.S. prospective students interested in business master’s programs expressed a preference for study in the U.S., down from 57 percent in 2009. Over time, a greater share of these candidates have shown interest in applying to programs in Western Europe (34 percent in 2016 vs. 30 percent in 2009), Canada (7 percent in 2016 vs. 4 percent (2009), and East and Southeast Asia (7 percent in 2016 vs. 4 percent in 2009).

Recent Immigration Policy Changes Having Impact on International Study Choices

Recent shifts in immigration policies may impact candidates’ study destination preferences in 2017. Anticipated changes in U.S. immigration policies and last year’s Brexit vote in the United Kingdom may make it more difficult for non-citizens to obtain student visas to study in those countries or to obtain work visas after graduation to seek employment, one of the main reasons for studying in those countries.

Since November 2016, a growing share of international candidates say they are now less likely to pursue a graduate business degree in the U.S. due to the U.S. presidential election results. The percentage of non-U.S. citizen mba.com registrants who say they are now less likely to study in the U.S. has grown from 35 percent in November 2016 to 43 percent in April 2017.

Early indications are that the British Brexit vote to leave the European Union may negatively impact international candidate demand to apply to U.K. business schools. In December 2016, among nearly 1,300 non-U.K. GMAT test takers surveyed about the Brexit vote, 45 percent indicated that the Brexit vote has made them less likely to study in the U.K. A country-level analysis reveals that Indian candidates are the most negatively influenced by the Brexit vote, with 58 percent reporting that it has made them less likely to study in the U.K. GMAC launched a second survey of non-U.K. GMAT test takers on March 29, the day the U.K. triggered Article 50 of the Treaty of Lisbon, which allows the U.K. to unilaterally quit the European Union. This survey closed on April 7 and showed the same percentage of candidates would be less likely to study in the U.K.

Education Costs and Financing Continue to Weigh Heavily on Candidates’ Minds

The predominant reservation candidates have about pursuing a graduate business education revolves around costs. Approximately half of surveyed candidates indicate that not having enough money available to pay for their education (52 percent of respondents) and potentially having to take on large debts (47 percent) may prevent them from pursuing a graduate business degree.

The two most important financial aspects that candidates evaluate when deciding where to apply are total tuition costs and scholarship availability. Compared with 2009, candidates, on average, expect to cover a greater share of the cost of their education with grants, fellowships, and scholarships and a smaller share with parental support, loans, and employer assistance.

Analysis in the 2017 mba.com Prospective Students Survey Report is based on survey responses provided by 11,617 individuals who registered on mba.com between February and December 2016. To download the full report visit: gmac.com/prospectivestudents. For supporting graphics, visit the GMAC News Center.

About GMAC: The Graduate Management Admission Council (GMAC) is a global, nonprofit association of 220 leading graduate business schools. Founded in 1953, we are actively committed to advancing the art and science of admissions by convening and representing the industry and offering best-in-class products and services for schools and students. GMAC owns and administers the Graduate Management Admission Test® (GMAT®), used by more than 6,500 graduate programs worldwide, and the NMAT by GMAC™ exam, for entrance into graduate management programs in India. The Council is based in Reston, Va., with offices in London, New Delhi (Gurgaon) and Hong Kong. For information on assessments, study tools and services for candidates, visit www.mba.com. For information about The Council and our market intelligence, professional development opportunities and services for graduate management education, please visit www.gmac.com.

MEDIA CONTACT:  
Jennifer Garfinkel; Director of Media Relations, GMAC
+1 (703) 668-9805 or jgarfinkel@gmac.com

Sundance Energy Australia Limited Reports First Quarter 2017 Results

DENVER, May 15, 2017 (GLOBE NEWSWIRE) — Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, reported its first quarter 2017 financial and operations results.

First Quarter 2017 Financial Results

  • Adjusted EBITDAX of $13.8 million, or 59.4 percent of Adjusted EBITDAX Margin, and net income for the period of $2.5 million.
  • Total revenue of $23.2 million, more than doubled as compared to the same prior year period, primarily driven by higher product pricing, which increased 79%.
  • Cash operating costs increased 22% to $14.93/Boe for the quarter, as compared to $12.25/Boe for the same prior year period. The increase was primarily caused by increased lease operating and workover expense incurred to resolve field operational issues from the fourth quarter of 2016 and increased production taxes due to higher product pricing.
  • Operating cash flow totaled $19.0 million for the first quarter.
  • As of March 31, 2017, the Company’s oil hedges covered a total of 1.6 million bbls through 2019 with a weighted average floor of $49.88 and ceiling of $58.07.
  • Cash on hand, pro forma for the sale of its Oklahoma assets, totaled $29.0 million as of March 31, 2017.
  • Borrowing base on its revolving credit facility was reaffirmed at $67 million.

Operational Highlights

  • Resolved majority of field operational issues from the fourth quarter of 2016.
  • Net production for the quarter, including flared, gas was 6,685 Boe/d, in line with its expectations for the quarter.  The Company expects full year production of 7,700-8,500 Boe/d.
  • The Company anticipates second quarter 2017 production to be 5,300-5,700 boe/d.  The expected decline is caused by approximately 1,000 boe/d of production declines from wells producing as of December 31, 2016 (“PDP Wells”) and the sale of approximately 650 boe/d with the Oklahoma asset sale.  In the second half of 2017, the expected decline from PDP Wells drops to approximately 9.5% per quarter.
  • The Company has begun flow back on 4 gross (4 net) wells through the second quarter that will all produce for portions of the second quarter.  These new wells will partially offset the production declines.
  • An additional 8 gross (7.7 net) wells will begin production throughout the third quarter of 2017 and 3 gross (3.0 net) wells in the fourth quarter of 2017.  These wells will drive production growth for the Company in the second half of 2017.
  • Capital expenditures totaled $25.8 million for the first quarter which included drilling 6 wells, completing 3 wells and commencing drilling of 3 additional wells.
  • The Company entered into an agreement to sell its Oklahoma assets during the first quarter, which closed on May 8, 2017 for net proceeds of $16.6 million.
  • The Company has updated initial production rates on the two wells in the table below:
Well County  Oil
 Rate
bod
 Gas
Rate
mcfd
Boe/d  Choke
1/64″
 Comments 
Woodward EFS 4H  McMullen 566  2,188 931 12 24 hours
Peeler Ranch 11 HD Atascosa  1,010 420  1,080 16 24 hours

The following tables present certain production, per unit metrics and Adjusted EBITDAX that compare results of the corresponding quarterly reporting periods:

Three Months Ended   % Change
Unaudited 31-Mar-17   31-Dec-16 31-Mar-16    Sequential
Quarter
  Qtr.-over-
Qtr
Net Sales Volumes
Oil (Bbls)   398,634   447,501   331,261 -11 % 20 %
Natural gas (Mcf)   770,845   1,189,003   596,283 -35 % 29 %
NGL (Bbls)   68,046   97,564   84,033            -30 %        -19 %
Total Boe (1)   595,154   743,233   514,675 -20 % 16 %
Average Daily Volumes
Average daily production (Boe), including flared gas (2)   6,685   8,161   6,304 -18 % 6 %
Product Price Received
Total price received (per Boe) $   39.04 $   33.55 $   21.86 16 % 79 %
Total realized price (per Boe)(3) $   38.11 $   33.44 $   31.31 14 % 22 %
(1)  The quarter ended March 31, 2017 includes 53,803 Boe (598 Boe/d)  from the Company’s Oklahoma assets which were divested of on May 8, 2017.
(2)  Includes flared gas of of 38,862 Mcf, 45,420 Mcf and 353,703 Mcf for the three months ended March 31, 2017, December 31, 2016 and March 31, 2016, respectively.
(3) Includes realized gains/losses on hedging of $0.5 million loss, $0.1 million loss and $4.9 million gain for the three months ended March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

 

UNIT COST ANALYSIS Three Months Ended   % Change
Unaudited 31-Mar-17   31-Dec-16   31-Mar-16    Sequential
Quarter
Qtr.-over-
Qtr
Revenue/Boe $   39.04 $   33.55 $   21.86 16 % 79 %
Lease operating expenses/Boe   (7.16 )   (6.19 )   (5.79 ) 16 % 24 %
Production taxes/Boe   (2.36 )   (1.75 )   (1.48 ) 35 % 59 %
Cash G&A/Boe(1)   (5.41 )   (3.90 )   (4.98 ) 39 % 9 %
Net per Boe   24.11   21.71   9.61 11 %     151 %
Adjusted EBITDAX(2)   13,804   15,867   9,841           -13 % 40 %
Adjusted EBITDAX Margin (3) 59.4 % 63.6 % 87.5 % -7 % -32 %
(1)  Cash G&A represents general and administrative expenses incurred less equity-settled share based compensation expense, which
totaled $0.6 million, $0.7 million and $0.6 million for the three months ended March 31, 2017, December 31, 2016 and March 31, 2016, respectively.
(2) See reconciliation of income attributable to owners of the Company to Adjusted EBITDAX included at end of release.
(3) Adjusted EBITDAX Margin represents Adjusted EBITDAX as a percentage of revenue during the period.

Condensed Consolidated Financial Statements

The Company’s condensed consolidated financial statements are included below.

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
Three Months Ended 
Unaudited (US$000s)  March 31, 2017
Revenue $   23,233
Lease operating and production tax expense   (5,664 )
Depreciation and amortisation expense   (14,159 )
General and administrative expenses   (3,771 )
Gain on commodity hedging, net   6,580
Finance costs, net of amounts capitalized   (3,107 )
Other income, net   6
 
Income before income tax    3,118
 
Income tax expense   (651 )
 
Income attributable to owners of the Company   $    2,467

 

CONDENSED CONSOLIDATED BALANCE SHEETS
       
(US$000s) March 31, 2017   December 31, 2016
  (Unaudited)   (Audited)
Cash $   12,381 $   17,463
Trade and other receivables   6,803   14,990
Other current assets   4,238   4,078
Assets held for sale(1)   18,242   18,309
Total current assets   41,664   54,840
Oil and gas properties   387,670   374,286
Other assets   2,974   2,962
Total assets $    432,308   $    432,088
Current liabilities $   32,019 $   30,879
Liabilities held for sale1   941   941
Total current liabilities   32,960   31,820
Total current liabilities
Credit facilities, net of financing fees   187,496   188,249
Other non current liabilities   10,995   14,196
Total liabilities $   231,451 $   234,265
Net Assets $   200,857 $   197,823
Equity $   200,857 $   197,823
(1) The Company’s Oklahoma assets (and related liabilities) were classified as held for sale as of March 31, 2017 and December 31, 2016.  The sale of these assets closed on May 8, 2017 for net proceeds of $16.6 million.

 

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS  
   
Three Months Ended
Unaudited (US$000s) March 31, 2017
Operating
Receipts from sales $   25,525
Payments for operating and administrative expenses   (9,503 )
Payments for commodity derivative settlements   (839 )
Other, net (1)   3,850
Net cash provided by operating activities (2)   19,033
Investing
Payments for development expenditures   (16,073 )
Payments for exploration expenditures   (1,409 )
Other   (100 )
Net cash used in investing activities   (17,582 )
Financing
Interest paid, net of capitalized portion   (5,595 )
Repayments for borrowings   (949 )
Net cash used in financing activities   (6,544 )
Cash beginning of quarter   17,463
FX effect   10
Cash at end of quarter $   12,380
(1)  Includes income tax refund (net) of $3.9 million.
(2) Net cash provided by operating activities exceeded Adjusted EBITDAX during the quarter primarily due to the collection of the income tax refund noted above, and timing of revenue collection from non-operated properties.

Conference Call
The Company will host a conference call for investors on Monday, May 15, 2017, at 4:00 p.m. Mountain Time (Tuesday 8:00 a.m. AEDT).  Interested investors can listen to the call via webcast at http://www.sundanceenergy.net/events.cfm.  The webcast will also be available for replay on the Company’s website.

Additional Information

We define “Adjusted EBITDAX” as earnings before interest expense, income taxes, depreciation, depletion and amortization, property impairments, gain/(loss) on sale of non-current assets, exploration expense, share based compensation and income, gains and losses on commodity hedging, net of settlements of commodity hedging and items that the Company believes affect the comparability of operating results such as items whose timing and/or amount cannot be reasonably estimated or items that are non-recurring.

Below is a reconciliation from the net income attributable to owners of the Company to Adjusted EBITDAX:

Unaudited (US$000s)  Three Months Ended
March 31, 2017
 
Income attributable to owners of Sundance $   2,467
Income tax expense   651
Finance costs, net of amounts capitalized   3,107
Gain on derivative financial instruments, net   (6,580 )
Settlement of commodity hedging   (552 )
Depreciation and amortization   14,159
Noncash share-based compensation   552
Adjusted EBITDAX $   13,804

The Company reports under International Financial Reporting Standards (IFRS).   All amounts are reported in US dollars unless otherwise noted.

The Company’s full Unaudited Activities Report as filed with the Australian Securities Exchange (ASX) and Securities and Exchange Commission on Form 6-K for the Quarter Ended March 31, 2017 can be found at www.sundanceenergy.net.

The Company’s 2016 Annual Report as filed with the ASX and Form 20-F as filed with the SEC can be found at www.sundanceenergy.net.

About Sundance Energy Australia Limited

Sundance Energy Australia Limited (“Sundance” or the “Company”) is an Australian-based, independent energy exploration company, with a wholly owned US subsidiary, Sundance Energy Inc., located in Denver, Colorado, USA.

The Company is focused on the acquisition and development of large, repeatable oil and natural gas resource plays in North America. Current activities are focused in the Eagle Ford.  A comprehensive overview of the Company can be found on Sundance’s website at www.sundanceenergy.net

Summary Information

The following disclaimer applies to this document and any information contained in it. The information in this release is of general background and does not purport to be complete. It should be read in conjunction with Sundance’s periodic and continuous disclosure announcements lodged with ASX Limited that are available at www.asx.com.au and Sundance’s filings with the Securities and Exchange Commission available at www.sec.gov

Forward Looking Statements

This release may contain forward-looking statements. These statements relate to the Company’s expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same.

These forward-looking statements reflect the Company’s views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the discovery and development of oil and natural gas reserves, cash flows and liquidity, business and financial strategy, budget, projections and operating results, oil and natural gas prices, amount, nature and timing of capital expenditures, including future development costs, availability and terms of capital and general economic and business conditions. Given these uncertainties, no one should place undue reliance on any forward looking statements attributable to Sundance, or any of its affiliates or persons acting on its behalf.  Although every effort has been made to ensure this release sets forth a fair and accurate view, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise

For more information, please contact:

United States
Eric McCrady, Managing Director 
Tel: +1 (303) 543 5703

Australia
Mike Hannell, Chairman
Tel: +61 8 8363 0388