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Brookside prepare for Juanita payout

2 March 2023 13:59
ASX: BRK

Brookside’s Juanita well looks to be a strong addition to the Company’s inventory of low-risk high-impact wells with well-log interpretations indicating 389 feet of net pay for production testing in Oklahoma’s Ardmore Basin.

Over 1,119 feet of gross pay was uncovered across the primary, secondary and tertiary pre-drill target zones, with surface facilities for production testing expected to be completed in the next two to three weeks.

Production testing will kick off as soon as construction is complete and is expected to last a few months, with each reservoir being tested sequentially, beginning at the deepest at approximately 6,101 feet total vertical depth to the shallowest at an estimated 4,084 feet TVD.

The reservoirs being tested will include both clastic and carbonate formations and the company believes that it will be able to begin sales of hydrocarbons during production testing.

Juanita is Brookside’s first well in the Bradbury area of interest and is targeting ten potential reservoirs including zones from within the Simpson group which have an average cumulative production from vertical wells of ~130 MBO.

The Company said these results are encouraging for the expanded Bradbury area of interest, with successful tests providing a platform for continued growth.

“We are very pleased with the results from the logging exercise and subsequent interpretation. With productive zones identified across all the pre-drill targets,” Managing Director David Prentice said.

“The opportunity to drill further relatively low cost, high return liquids-rich vertical wells, adds another important leg to our future development plans and we look forward to providing further updates on
testing over the coming weeks.”

BRK’s Australian Stock Exchange-listed share price has risen 8.33 per cent today, currently selling at 1.3c (1.55 pm UTC+ 8 hours).

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