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Warm feeling for Sun

SUN Resources has plenty to feel warm about this Californian summer.

A recent substantial find by a neighbour in the San Joaquin Basin has been good news for Perth-based Sun and other companies, one of which has now applied to drill 127 wells in the region touted as perhaps “the biggest oil and gas play west of the Rocky Mountains”.

The Tri-Valley Oil & Gas Company find, nine kilometres east of the Kingfisher Prospect, suggests a three trillion cubic feet of gas reservoir from the Monterey/McClure formation.

This formation is one of the target formations of the Kingfisher Prospect in which Sun has a 10 per cent interest. But before Kingfisher 1 is drilled, Sun’s other 10 per cent valley interest will have produced results.

Eagle 1 has produced oil and gas in the past and oil has already been recovered from the drill pipe. As yet the company is unsure what quantity of commercial hydrocarbons are present.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
466thSun Resources0%-77%
621stSummit Resources-23%-34%
699thWhite Cliff Minerals-42%-19%
745thOrecorp-53%15%
816thGreenpower Energy-76%-7%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

14/12/17
$0 Issued
14/12/17
$20k Issued
14/12/17
$39k Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

242nd↓Sun Resources$91k
289th↑Summit Resources$31k
290th↑Greenpower Energy$31k
292nd↓White Cliff Minerals$27k
293rd↓Orecorp$27k
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Sun Resources

883rdAlexander Parks$18k
Ranked by total remuneration from all listed WA companies

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