EAGLE FORD The Eagle Ford continues to have one of the highest internal rates of return of any of the US unconventional resource plays.  Because of its relatively low operating costs, the Eagle Ford to remains profitable during current oil commodity pricing conditions. Sundance has quickly transformed the Eagle Ford position acquired in its merger with Texon Petroleum Ltd to its most valuable asset in its portfolio through development and growing its drilling inventory.  EAGLE FORD As at and for theYear Ended 31 December 2014  Production (boe) 1,696,549  Production (BOEPD) 4,648  Liquids % of sales 91% Exit Rate (BOEPD) 8,177  D&P Capital Invested $ 244,134  E&E Capital Invested and Acquisitions $ 59,903  Gross producing wells 77  Net Producing wells 53.8  Gross Wells in Progress 19  Net Wells in Progress 10.6  Net Acres 26,160  In 2014, the Company brought 35 gross (26.1 net) Eagle Ford wells into production by D&P investments of $244 million. Through $26  million of direct mineral leases and $36 million of acquisitions  in 2014, the Company increased its Eagle Ford acreage position  to 20,742 net acres, which represents 153.7 net undrilled  3P Reserves locations. Since its entrance into the Eagle Ford in March 2013, the Company has: • increased its production over 10x to a 2014 exit rate of 8,177 BOEPD (a 290  percent CAGR); • increased 1P Constant Case Reserves by 10x to 18,132 MBOE (PV10 of $449.3 million (an 18x increase)); • increased its acreage to approximately 33,000 net acres, primarily in the volatile oil and condensate window of the Eagle Ford (includes 14,180 net acres acquired in January 2015 and excludes 5,418 net acres targeting the Georgetown Formation in neighboring Maverick County); • increased its producing well count to 77 gross (53.8 net), with an additional 19 gross (10.6 net) wells in progress at year-end; As at and for theYear Ended 31 December 2014  EAGLE FORD CONSTANT CASE RESERVES • increased its undrilled 3P Reserves drilling locations to 153.7 net; which represents a 4.3 year drilling inventory (assuming two rig program drilling 36 net wells per year and 40-80 acre spacing) 1P Reserves (mboe) 18,131.9  3P Reserves (mboe) 100,404.1  1P Reserves (PV10 ($000s)) $ 449,287.5  3P Reserves (PV10 ($000s)) $ 1,202,313.1  Net 1P Reserves Drilling Locations 42.6  Net 3P Reserves Drilling Locations 153.7  50 100 150 200 1.0 2.0 3.0 4.0 5.0 JAN-13  JAN-14  JAN-15 ■  PROVED  ■  PROBABLE AND POSSIBLE —  DRILLING INVENTORY (YEARS) NET EAGLE FORD DRILLING LOCATIONS  (excluding contingent resources) 10