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Brookside mobilise completion for Rangers’ black gold

4 March 2022
ASX: BRK
Jack Baker

Brookside Energy mobilised on completion of the Rangers well with sales imminent during spiking oil prices from its already-productive Oklahoma corner of the world-class Anadarko energy basin.

Completion equipment and personnel are expected to arrive on-site today to commence “plug and perforate” operations over the coming fortnight.

Rangers well is a direct offset to the Sundance Kid well which pumped out an initial rate exceeding 2000 barrels of oil equivalent a day and sustained high production numbers.

An opportune time for oil sales, the conflict in Ukraine brought crude’s already-growing spot price to a lofty US$110 per barrel.

One of more than 20 planned in oil-rich basin’s SWISH area of interest, next up comes the Flames well with pad construction already underway.

The company said it looked forward to keep investors appraised of its rapid developments.

“We are obviously delighted to be completing the final steps to bring our Rangers Well into production, and it is particularly pleasing to be faced with the opportunity to deliver the initial production from this well into oil prices at 10- year highs,” managing director David Prentice said.

While Rangers nears completion, updates on construction of the Flames well and other operations in the area of interest are soon expected.

BRK’s Australian Stock Exchange-Listed price is halted and was last trading at 1.7c (12:11 pm UTC+ 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.

COMPANY INFORMATION

ASX: BRK

Website

https://brookside-energy.com.au/
https://www2.asx.com.au/markets/company/brk

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