Sundance Energy Australia : Operations Update

ASX Announcement

6 September 2018

ASX Code: SEA

32 Greenhill Road, Wayville, South Australia 5034 ACN112 202 883

Telephone: [phone] Facsimile: [phone]www.sundanceenergy.com.au

Sundance Energy Australia Limited ABN 76 112 202 883

FOR IMMEDIATE RELEASE

General Manager

The Company Announcements Office Australian Securities Exchange

Sundance Energy Provides September 2018 Operational Update

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, today provided an update regarding the Company's recent development activities.

Production

Sundance brought 7 wells online in August, including 5 wells on the recently acquired acreage in Live Oak County. The Company brought the 2-well Justin Toms pad, located in Atascosa County, online in early September.

24-

Completed Hour Cum

Harlan Bethune 26HLive Oak

Harlan Bethune 34HLive Oak

IP Date	Lat Length	Choke
15-Aug-18	4,973'	16/64	941	74%	20,125	73%
15-Aug-18	4,161'	16/64	1,387	78%	25,624	79%
15-Aug-18	3,469'	16/64	1,264	76%	26,166	76%
19-Aug-18	3,506'	16/64	1,458	77%	23,802	76%
Harlan Bethune 35H	Live Oak	19-Aug-18	3,678'	16/64	1,504	78%	23,761	77%
Allen MCM 1HA	McMullen	17-Aug-18	8,015'	28/64	1,388	76%	23,813	75%
Allen MCM 2HA	McMullen	17-Aug-18	8,234'	28/64	1,297	78%	21,398	78%

IP % Oil Production % Oil

Well Name	County
Harlan Bethune 25H	Live Oak

Harlan Bethune 27H Live Oak

Drilling Activities

Sundance is currently drilling the 4-well James Keith Esse pad and the 2-well

Idylwood pad, both located in Live Oak County.

Completion Activities

Upon completion of the 2-well Justin Toms pad the Company released its frac crew ahead of schedule. The frac crew will be mobilized for Sundance's fourth quarter completions in late September.

30-Day

Spud	Frac Start	Completed	IP Rate
Well Name	County	Date	Date	IP Date	Lat Length	(boe/d)	% Oil
Paloma Ranch 7H	McMullen	18-Jan-18	17-May-18	2-Jun-18	7,690'	1,345	62%
Peeler Ranch 8HC	Atascosa	1-Mar-18	28-May-18	26-Jun-18	5,642'	484	92%
Peeler Ranch 9HC	Atascosa	24-Mar-18	28-May-18	26-Jun-18	5,820'	446	93%
Allen MCM 1HA	McMullen	21-Apr-18	6-Jul-18	17-Aug-18	8,015'	-	-
Allen MCM 2HA	McMullen	13-May-18	6-Jul-18	17-Aug-18	8,234'	-	-
Harlan Bethune 25H	Live Oak	7-May-18	24-Jul-18	15-Aug-18	4,973'	-	-
Harlan Bethune 26H	Live Oak	11-May-18	22-Jul-18	15-Aug-18	4,161'	-	-
Harlan Bethune 27H	Live Oak	13-May-18	22-Jul-18	15-Aug-18	3,469'	-	-
Justin Tom 05H	Atascosa	17-Jun-18	12-Aug-18	3-Sep-18	6,258'	-	-
Justin Tom 06H	Atascosa	14-Jun-18	12-Aug-18	3-Sep-18	6,299'	-	-
Harlan Bethune 34H	Live Oak	25-Jun-18	3-Aug-18	19-Aug-18	3,506'	-	-
Harlan Bethune 35H	Live Oak	22-Jun-18	3-Aug-18	19-Aug-18	3,678'	-	-
James Keith Esse 06H	Live Oak	26-Jul-18	-	-	-	-	-
James Keith Esse 07H	Live Oak	22-Jul-18	-	-	-	-	-
James Keith Esse 08H	Live Oak	24-Jul-18	-	-	-	-	-
James Keith Esse 09H	Live Oak	20-Jul-18	-	-	-	-	-
Idylwood 04H	Live Oak	3-Aug-18	-	-	-	-	-
Idylwood 05H	Live Oak	3-Aug-18	-	-	-	-	-

For more information, please contact:

United States:

John Roberts

Eric McCrady

VP Finance & Investor Relations Tel: [phone]

CEO and Managing Director Tel: [phone]

Australia:

Mike Hannell Chairman

Tel: [phone]

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 where the company has a position of approximately net 56,600 net acres. A comprehensive overview of the Company can be found on Sundance's website atwww.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 atwww.asx.com.au and Sundance's filings with the Securities and Exchange Commission available atwww.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 andfinancial 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.