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Sun Resources Managing Director Acquires Shares On Market

Sun Resources (ASX: SUR) managing director Dr Govert van Ek has acquired 500,000 shares in the company on the market.

He paid a total of $15,815 for the shares, or an average consideration of about $0.032 per share, giving him a total shareholding of 500,000 shares held directly.

He also holds 10 million unlisted options exercisable at $0.057, 10 million unlisted options exercisable at $0.067 and 10 million unlisted options exercisable at $0.076.

Sun had recently attracted Petro-Hunt LLC, one of the world's largest privately held companies, as a joint venture partner targeting oil and gas in the Lower Woodbine interval in Leon County, Texas.

The partners will drill the first horizontal well into the Lower Woodbine in the last quarter of 2013.

Sun has a 25% interest in the joint venture, which includes 810 net acres from its wholly-owned Delta Oil Project.

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