Sunset Energy Limited is public company listed on the Australian Stock Exchange (ASX:SEY) with exciting a growing portfolio of exciting Oil and Gas exploration opportunities in South Africa and the USA.

Sunset’s strategy is to utilise its network of global contacts to identify and acquire material upstream oil and gas exploration opportunities at a low entry cost which enables it to focus its exploration expenditure on drilling wells and other direct expenditure.

Sunset is targeting opportunities where it can act as operator, and which have significant scale and materiality (more than 1 TCF of gas or 10 Million bbl of Oil). The scale of these opportunities provides potentially significant upside for the company.

In December 2009, Sunset Energy Limited acquired all of the issued shares in the capital of Bundu Gas and Oil Exploration (Pty) Limited (“Bundu”) a company registered in South Africa) which holds 100% of exploration permits and applications covering approximately 5400 square kilometres of highly prospective acreage in South Africa. 

This comprises the Thelma Project, an oil and gas exploration project located in the northeast edge of the northern Karroo Basin of South Africa (and includes the Thelma 2 project application) and the Cranmere project application located in the Eastern Cape Province, north of the port city of Port Elizabeth.

In June 2010 Sunset Texas Exploration LLC, a wholly owned subsidiary of Sunset Energy Limited entered into a Lease Purchase and Exploration Agreement with a private exploration company based in Texas to acquire an 80% Working interest (100% before payout) in Leases and an Area of Mutual Interest covering the Triple Crown Prospect located in Edwards County, Texas.

The Triple Crown Prospect possesses three independent exploration opportunities across over 45,000 acres of leasehold. The first and primary opportunity is to explore for potentially huge gas production in the vertically fractured Ellenburger Dolomite trapped on 3 large-scale, anticlinal closures. The second opportunity consists of complementary exploration for multiple Lower Canyon Sand gas reservoirs deposited around and over the Ellenburger structures. The third is to develop an unconventional gas play within the prospect area.