Page 5 - Sun Resources 2014 Annual Report

BADGER OIL PROJECT
CHANGES TO BOARD
OF DIRECTORS
FIRST WELL SPUDS
IN DELTA OIL PROJECT
AMI WITH PETRO-HUNT
AS OPERATOR
APPOINTMENT OF
NEW NON-EXECUTIVE
CHAIRMAN
Sun announced on 26 May 2014 the acquisition
of a 50% non-operated working interest (WI)
in the Badger Oil Project area representing a
gross position of 10,028 (5,014 net) mineral
acres of oil and gas leases. This deal underpins
Sun’s strategic intent to high grade its shale oil
business in the US, now expanded to target
the Eagle Ford, Austin Chalk as well as the
Woodbine unconventional plays.
Professor Ian Plimer and the Honourable
Alexander Downer were appointed as Non-
Executive Directors in September 2013. Mr
Matthew Battrick resigned as a Director in
September 2013 with Mr John Kenny resigning
from the Board in November 2013. The
Honourable Alexander Downer subsequently
resigned from the Board in April 2014.
Professor Ian Plimer was appointed as Non-
Executive Chairman at the November 2013
Annual General Meeting; replacing Dr Wolf
Martinick, who stepped down at the AGM but
remains as a Non-Executive Director of Sun.
SUN RESOURCES ANNUAL REPORT 2014  3
Immediately after the end of the reporting period,
Petro-Hunt LLC completed drilling operations
at the Davis #1 vertical pilot well located in the
AMI held jointly by Sun (25%WI) and Petro-Hunt
(75%WI).