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Brookside acquire a fourth DSU in the core of SWISH

7 November 2022 10:37
ASX: BRK
Brookside's Flames Well

Brookside Energy have made a strategic acquisition of a fourth operated Drilling Spacing Unit in the very core of its SWISH holdings in the energy-laden Anadarko Basin of Oklahoma.

The prime acreage provides a 34 per cent rise to the area of interest, lying adjacent to the Jewell and Flames DSU’s and primed to deliver a material increase to reserves.

Already holding a large inventory of low-risk high return wells, the explorer is energised on ambitions in the Sooner State, with a trio of wells flowing cash and providing the platform for its next phase of development.

The company said it was a successful execution on its land and leasing efforts in the core of the highly sought-after Sycamore-Woodford trend.

“It is a credit to our team in Oklahoma, that we have been able to secure operations on a fourth DSU in what is an extremely competitive environment, adding to our already strategically important position at a time when M&A and drilling and development activity is on the rise,” managing director David Prentice said.

“Staying focussed on our goals, winning on the ground, and maintaining our intense focus on securing premium acreage is absolutely delivering long term value for our shareholders — we head into the final quarter of what has been a year full of catalysts and key milestones for the Company.”

Brookside expect the rig to arrive at its Wolf Pack Well this week and are setting up for the Juanita Well in its newly established Bradbury Area of Interest.

BRK’s Australian Stock Exchange-listed share price has risen 8.333 per cent today, currently selling at 1.3c (10.36 am UTC+ 8 hours).

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