Sundance Energy Production Tests Stacked Zones of Light Oil on Its Central Alberta Alexander Property

CALGARY, ALBERTA--(Marketwire - April 2, 2012) - Sundance Energy Corporation ("Sundance" or the "Corporation") (TSX VENTURE:SNY) (OTCQX: SNYXF) is pleased to announce that it has completed the testing of its first well drilled on its jointly held (50% working interest) Alexander First Nations Permit in Central Alberta (the "Alexander Permit"), which is comprised of 17,280 gross contiguous acres (27 sections).

The Sundance ALEX 16-11-56-27 W4M well ("16-11 well") was drilled vertically to a depth of 1,306 meters and encountered sweet, light oil in both the Alexander and Detrital sands within the Lower Mannville Group. Both zones were individually stimulated and swabbed to recover most of the load fluid prior to testing. Final swab rates for the Alexander sand was 7.6 bbl/hr of oil while the Detrital sand swabbed at 2.7 bbl/hour of oil. The final swab rates for the combined zones totaled 10.3 bbl/hr of oil (247 barrels of oil per day). Plans are underway to equip and place the 16-11 well on production as soon as possible, which is anticipated to occur within the next 30 days. Although initial productive test rates may not be indicative of long-term performance and ultimate reserve recovery, Sundance is very excited about confirming light oil production from both formations that produce oil commercially in the area.

Sundance and its partner have commenced a 9 square mile 3-D seismic program covering the north-east portion of the Alexander Permit. The seismic work is near completion and is scheduled to be delivered to the processors within a week. Sundance and its partner are now in the process of planning a multi-well step-out drilling program on the Alexander Permit to follow up on the success of the 16-11 well. The drilling locations for the program will be determined following the interpretation and analysis of the 3-D seismic results.

Beaufort Financing Update

Sundance also announces that it has mutually agreed with UK-based Beaufort International Associates Limited ("Beaufort") to continue negotiations regarding making Beaufort the agent, lead broker and sole global book runner, on a best efforts basis, for the previously announced offering (the "Offering") of preferred shares in the capital of Sundance (see Press Release dated March 13, 2012). Sundance anticipates that the terms of the Offering will be finalized early in April, 2012. It is anticipated that the Offering will be conducted on a private placement basis to eligible subscribers in the UK, Europe, Canada, Australia, and the United States for minimum gross proceeds of C$5 million and maximum gross proceeds of C$15 million.

Warrant Extension

Sundance further announces that it has extended the expiry date of certain of its outstanding common share purchase warrants ("Warrants") that are exercisable into common shares at a price of $0.75 per common share. The expiry date of the Warrants, which was originally 4:30 p.m. (MST) on April 8, 2012, has been extended to 4:30 p.m. (MST) on October 8, 2012. These adjustments have been incorporated into the terms of a supplemental trust indenture dated effective April 8, 2012 between the Corporation and Olympia Trust Company, it's Transfer Agent. This amendment to the terms of the Warrants has been conditionally accepted by the TSX Venture Exchange.

Sundance Energy Corporation is a junior publicly traded oil and gas company whose primary focus is exploring First Nation Lands in Western Canada. Sundance trades in Canada on the TSX Venture Exchange under the trading symbol "SNY" and on the OTCQX in the U.S.A. under the trading symbol "SNYXF".

Forward Looking Statements

This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are exploration risks detailed from time to time in the filings made by the Corporation with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Sundance. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Sundance does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.