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Brookside energising Oklahoma

5 October 2022 10:20
ASX: BRK

Brookside Energy have tripled its acreage in the new Bradbury Area of Interest, with three Drilling Spacing Units already controlled in Oklahoma’s Murray county, northeast of the energy company’s trio of already-producing oil wells.

First spudding of a Bradbury well is earmarked for mid October, bringing the Juanita Well into the fold — with ten potential reservoirs to draw from.

A second location has already been highlighted, with operations to be fast tracked pending Juanita results, where a combination of low costs and high reserve potential are expected to result in lofty economics.

The company said Bradbury added another significant string to its bow.

“It is great to open another path for growth within the business as we continue to execute our Three Pillars strategy and particularly pleasing that we can fund this new initiative from our cash reserves and cashflow,” managing director David Prentice said.

Brookside eye further growth in the new area as prospecting continues, while it continues to build up from its large inventory of proven wells, with Wolf Pack next up as phase two development begins.

BRK’s Australian Stock Exchange-listed share price was trading at 1.3c today (9.35 am UTC+8 hours).

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