The Board of Directors of Sundance Energy Australia Limited provided the following company update. 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 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 will resign his seat in order to concentrate on his many other responsibilities, principally as Managing Director of Beach Energy Limited. In the meantime, the Directors have approved the casual appointment of Neville Martin as a Director to serve while the Board finalizes its search for a US Director; Neville's appointment will become effective concurrent with Reg's resignation in the near future. Neville has served as Reg's Alternate Director since May of last year, and, during that time, has established his capabilities and been an active Board participant. Neville is currently a partner at Minter Ellison Lawyers in Adelaide, and, until the recent takeover, was the Chairman of Adelaide Energy Limited. His other board appointments are with Sky Australia Limited, Newklar Asset Management Ltd. and Anglo Russian Energy Ltd. Neville has worked with the company over the course of its entire existence and, indeed, was lead Australian counsel for the company's IPO in April 2005.