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Sun Resources Expands Acreage Position At Woodbine Tight Oil Play

Sun Resources (ASX:SUR) has expanded its acreage position within the Woodbine Tight oil play in the U.S. to 20,020 acres, with the acquisition of a further 1,184 acres at the Delta oil project.

The Delta project, where Sun has a 100% working interest, now holds 11,820 net acres with the company targeting 15,000 net acres of oil and gas leases.

The company's Woodbine Tight oil play includes the Delta, Amerril, Richland and Normangee projects, spread across the Leon and Madison counties. The company is targeting a working interest in at least 35,000 gross acres in the Woodbine play.

Sun has a 50% working interest in each of the Amerril and Normangee projects and a 16.7% working interest in the Richland oil project.

The latest acquisition has been funded from existing cash reserves.

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