Independent auditor's report to the members of Sundance Energy  AustraliaLimited Report on the financial report Directors' responsibility for the financial report Auditor's responsibility Independence We have audited the accompanying financial report of Sundance Energy Australia Limited, which comprises the  consolidated statement of financial position as at 31 December 2014 the consolidated statement of comprehensive  income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year  then ended, notes comprising a summary of significant accounting policies and other explanatory information, and  the directors' declaration of the consolidated entity comprising the company Sundance Energy Australia Limited  and the entities it controlled at the year's end or from time to time during the financial year.  The directors of the company Sundance Energy Australia Limited are responsible for the preparation of the  financial report that gives a true and fair view in accordance with Australian Accounting Standards and the  Corporations Act 2001  and for such internal controls as the directors determine are necessary to enable the  preparation of the financial report that is free from material misstatement, whether due to fraud or error.  Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in  accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical  requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about  whether the financial report is free from material misstatement.  An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the  financial report. The procedures selected depend on the auditor's judgment, including the assessment of the  risks of material misstatement of the financial report, whether due to fraud or error. In making those risk  assessments, the auditor considers internal controls relevant to the entity's preparation and fair presentation of  the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the  purpose of expressing an opinion on the effectiveness of the entity's internal controls. An audit also includes  evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates  made by the directors, as well as evaluating the overall presentation of the financial report.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit  opinion.  In conducting our audit we have complied with the independence requirements of the  Corporations Act 2001 . We  have given to the directors of the company a written Auditor’s Independence Declaration, a copy of which is  included in the directors’ report.  A member firm of Ernst & Young Global Limited  Liability limited by a scheme approved under Professional Standards Legislation  - 107 -  Ernst & Young 680 George Street Sydney NSW 2000 Australia  GPO Box 2646 Sydney NSW 2001 Tel: +61 2 9248 5555  Fax: +61 2 9248 5959  ey.com/au 