Brookside Energy MD David Prentice Gives JustStocks An Update On Objective To Double Oklahoma BOE Production In 2024

Brookside Energy Ltd (ASX: BRK, OTC: RDFEF) Managing Director David Prentice provides JustStocks with an update on the multi-well Flames-Maroons Development Plan (FMDP) in the core of the southern SCOOP Play in the Anadarko Basin, Oklahoma.

He says the program is successfully underway with the spudding of the first of four wells. Prentice says the program is a real step-change in terms of activity for the company and should deliver a doubling in overall production in less than 12 months. Meanwhile, Brookside Energy announced the appointment of Chris Robertson as an independent Non-Executive Director. Prentice says Robertson’s appointment acknowledges the need to strengthen the Brookside board during a period of expansion as it works towards leveraging operational success into returns to its shareholders.

Brookside is in a strong position with cash receipts of A$12.2 million, with a positive operating cash flow of A$3.1m for the December quarter. Cash at bank was A$26.2 million, net of A$3.9 million in capital expenditure pre-paid for the Flames-Maroons Development Plan (FMDP) and A$3.1 invested in the 5% share buy-back.

 

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