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Brookside burn bright at Flames

27 October 2022 12:06
ASX: BRK
Brookside's Flames Well

Brookside Energy continues to make a name for itself in Oklahoma’s legendary Anakardo basin, with the Flames Well hitting the second highest peak rate in the Woodford formation of the SWISH AOI.

Flames was able to hit the impressive peak rate of a 1500 barrels of oil equivalent a day while achieving a 30-day 1200 BOE per day average.

As one of the youngest producing wells in the basin, Flames only came online in August after hitting flow back at an early commercial rate.

Brookside has developed three wells in just over a year, with the Rangers Well bringing in $6.75 million in revenue after just two and half months of production.

The company said it represents the final milestone for the SWISH BHP program as it flows onto phase two development.

“This outstanding result has very positive implications for the value of the low-risk high-return proved undeveloped reserves we can assign to this formation across our acreage position,” managing director David Prentice said.

“We look forward to bringing news of the commencement of our phase two development program, as well as work on our new AOI, to our shareholders in the coming weeks and months.”

In the midst of what could be another company-making year, Brookside plan on striking while the iron is hot, with the Wolf Pack Well expected to spud early next month.

BRK’s Australian Stock Exchange-listed share price was trading at 1.2c today (12.04 pm UTC+ 8 hours).

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