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Brookside Flame onto completions

4 May 2022

ASX:BRK

Jack Baker

Brookside Energy has appointed Producers Service Corp to supply and operate equipment and personnel for Flames Well completion works in the US state of Oklahoma’s world-class Anadarko basin under the supervision of Brookside subsidiary Black Mesa.

Brookside is pursuing accelerated development, increasing production as prices settle beyond US$100 a barrel, with Flames to become the third well to come into production by the middle of the year.

The operational milestone is critical in the area’s highly anticipated revaluation process – proving up a large inventory of high quality (high impact) and very low-risk development wells.

The company – maintaining an 80 per cent stake in all wells – has caught the attention of other industry players with its disciplined rollout of wells.

It will also accelerate future development plans with additional wells for the second half of 2022 amid declining US crude oil stocks.

BRK’s Australian Stock Exchange-listed share price was trading at 21c today (11: 58 am 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.

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