The three year lease agreement is on 320 gross and net acres lying within the defined boundaries of the Lashburn West Sparky oilfield, located in west central Saskatchewan.
Under the deal, Sundance will drill a minimum of one test well to a contract depth of 550meters subsurface or five meters into the GP formation, whichever is the lesser depth, in the first year of the lease term.
The company will also drill a minimum of one additional test well per year thereafter during the primary term of the lease.
