Sun Resources NL
Sun Resources NL ("Sun Resources") is listed on the Australian Stock Exchange (ASX) under code SUR. Sun Resources' strategic levels of project equity, plus its modest market capitalization means that the company is very highly leveraged in its ongoing exploration programs. Key exploration assets are in the states of Texas and Louisiana in the United States of America, Thailand, Malta and Australia with a small cash flow currently delivered from production assets in the onshore Gulf of Mexico region of the USA. Sun Resources' goal is to create shareholder value through strategic investments in proven oil & gas fairways, particularly onshore, where cash flow can be delivered quickly. Emphasis is on regions of the world that have excellent fiscal terms and low political risk; current focus areas are the onshore USA and Thailand.
Matthew Battrick
Managing Director
Focus Project
Sun Resources bid successfully with a well respected explorer and producer, Carnarvon Petroleum Ltd (CVN) for the onshore block L20/50 in the southern extension of the Phitsanulok Basin. New Seismic data has now been interpreted...
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Current Announcements
Sun Resources NL advises that it will be making an interest payment on the unsecured listed
Convertible Notes issued on the 24 July 2008 of $95,128. The payment will be for 92 days, being the
period from 1 July to 30 September 2010 inclusive.
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Sun Resources NL (“Sun Resources”) has executed a binding Term Sheet with Peak Oil & Gas Ltd
(“Peak”) to earn up to a 20% working interest in L20/50, onshore Thailand. Peak will free carry up to
US$3.43 million of Sun Resources’ share of well costs in the drilling programme, in Joint Venture with
Operator, Carnarvon Petroleum Limited (“Carnarvon”) to test up to 60 million barrels of un-risked,
gross speculative potential, oil resources. Subject to Government approvals and seasonal weather
conditions, the first firm well is expected to commence drilling in the December quarter of 2010.
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In accordance with ASX Listing Rule 17.1, Sun Resources NL (ASX: SUR) requests an
immediate trading halt on its securities pending the release of an announcement in relation to
a farm-out of part of its interest in L20/50 block, onshore Thailand.
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