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Brookside kicks-off construction of second well in Oklahoma

26 August 2021

ASX:BRK

Rueben Hale

Brookside Energy Limited will be pouring first concrete at its second well in Oklahoma’s world-class Anadarko basin after getting the green light to develop the Rangers Well area in the US.

Brookside expects to be underway with the next phase of its 5-year, 20-plus well-drilling program as early as next week with the construction of an all-weather pad at the Rangers drilling spacing unit.

The cashed-up company is well-positioned for rapid growth, leveraging the site’s recently expanded development potential while progressively tapping into an estimated 11.6 million barrels of oil across three areas of interest in the energy-rich basin.

“We are very pleased that we have been able to maintain our operational momentum in the SWISH AOI, securing the key agreements to commence construction of the pad for the soon to be drilled  Rangers Well,” managing director David Prentice said.

“This is obviously a very busy period for us and the Black Mesa team as we move straight from the drilling and completion operations at the Jewell Well and kick-off operations in our next operated DSU – Rangers.

“We are very much looking forward to keeping our shareholders updated as we get underway with  Rangers and lock-in key services for this next phase of development of our very valuable SWISH AOI resource.”

Brookside is also underway with the design and placement of the latest well, which will sit just 8-kilometres west of the Jewell Well and very close to the highly successful Flash and Courbet Wells.

The company’s Australian Stock Exchange-listed shares were trading at 3.1c today (10:30 am GMT+ 8 hours).

COMPANY OVERVIEW

Brookside Energy Limited is an Australian publicly held company listed on the Australian Securities Exchange (ASX:BRK). The Company was reinstated to official quotation on the ASX on 5 August 2015, following completion of the Company’s recapitalisation.

Brookside has established deep and valued relationships in the oil and gas sector over the last 10 years through its successful activities in the industry focused on the mid-continent region of the United States.

Brookside’s goal is to build value per share through a disciplined portfolio approach to the acquisition and development of producing oil and gas assets and the leasing and development of acreage opportunities.

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