text: (1) 
  Increase in PV10 of proved reserves divided by the capital spent to generate that growth during the period excluding 
  acquisitions and dispositions 
  
  The amount of any STI and LTI bonuses relative to the year ended 31 December 2014 will be determined subsequent to the filing 
  of this report and included in reported remuneration in next year’s Directors’ Report. 
  
  *Long-Term Incentives*
  We have two active equity incentive plans under the LTI component of the incentive remuneration program. These are the 
  Sundance Employee Option Plan ("ESOP") and the Sundance Energy Australia Limited Restricted Share Units available only to our 
  U.S. employees under the Incentive Remuneration Plan (the "RSU Plan"). Any grants made to employees that also serve as a 
  director are subject to shareholder approval prior to issuance. 
  
  *ESOP Plan*
  The ESOP provides for the issuance of stock options at an exercise price determined at the time of the issue by a committee 
  designated by the board (the "Plan Committee"). Options under the ESOP may be granted to eligible employees, as determined 
  by the Plan Committee, and typically include our executive officers, directors and key employees. 
  
  Historically, the Plan Committee has granted options in connection with attracting new employees, which grant is made once 
  employment has commenced. It is within the discretion of the Plan Committee, however, to authorize additional option grants 
  during the tenure of employment. Generally, an option vests 20 percent on the 90th day following the grant date, with an 
  additional 20 percent vesting on the first, second, third and fourth anniversaries thereof. Options are valued using the Black- 
  Scholes methodology and recognized as remuneration in accordance with their vesting conditions. In the event of a voluntary 
  winding up of the Company, unvested stock options vest immediately. We may amend the ESOP or any portion thereof, or waive 
  or modify the application of the ESOP rules in relation to a participant, at any time. Certain amendments to the ESOP may require 
  the approval of the option holders. 