DENVER, Aug 11 (Bernama-GLOBE NEWSWIRE) -- Sundance Energy Australia Limited (ASX:SEA) (“Sundance” or the “Company) is pleased to announce that the Company has closed the previously announced acquisition of New Standard Energy Ltd’s (ASX:NSE) U.S. and Cooper Basin assets. Consideration for the acquisition included approximately $15.0 million to repay NSE’s note with Credit Suisse, the issuance of 6 million new fully paid ordinary SEA shares and the assumption of net working capital deficit of approximately $0.9 million. Approximately 1.5 million of the 6 million SEA shares will be held in escrow until resolution of due diligence defect matters.
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