As announced, Sundance Energy Ltd (ASX:SEA) entered into an agreement to acquire New Standard Energy Texas LLC, New Standard Energy PEL 570 Pty Ltd and working interest in the Colorado County assets from New Standard Energy Limited (ASX:NSE). Upon successful completion of the transaction, New Standard intends to continue its ongoing discussions with other parties to seek funding and a suitable partner for the Company in its strategy to unlock the potential value in the onshore Canning and Carnarvon Basins, through its Southern Canning, Laurel and Merlinleigh Projects. New Standard remains a 100% shareholder in all three projects, providing it with a significant footprint in two prospective onshore basins and substantial equity to underpin additional corporate activity.