Proactive Investors - Run By Investors For Investors

Brookside Energy rewards long term shareholders with listed options

The company revealed its maiden oil and gas reserves in early December 2018.
map of Anadarko Basin and asset locations
The company is focused on assets in the Anadarko Basin in the US state of Oklahoma

Brookside Energy Ltd (ASX:BRK) has made good on its pledge to reward holders of expiring options by issuing replacement listed options.

An important step in delivering on this was completed yesterday with the lodgement and opening of the required prospectus offer.

Under the prospectus offer, 225.14 million listed options exercisable at 3 cents expiring 31 December 2020 will be available to eligible applicants.

The offer is open to holders of the recently expired listed options exercisable at 2 cents.

READ: Brookside Energy achieves strong, sustained production from Woodford Shale well

In mid-December 2018, Brookside confirmed strong, sustained production results from its first Woodford Shale well in the world-class Anadarko Basin (SCOOP Play) in Oklahoma.

At the time, the Bullard #1-18-07UWH well had produced about 110,000 barrels of oil equivalent (BOE) (65% oil) in less than 3-months.

Brookside’s first three months net revenue is estimated to be about US$850,000, attributable to its 20.57% working interest.

This followed the company’s maiden declaration of reserves in early December of 3.45 million barrels of oil equivalent (MMboe) confirming the success of its acreage acquisition and re-valuation strategy in the USA’s prolific Anadarko Basin.

READ: Brookside Energy declares maiden reserve of 3.45 million barrels from Anadarko Basin in US

View full BRK profile View Profile

Brookside Energy Ltd Timeline

Related Articles

Gas flare
May 22 2019
The group is in the middle of a three well programme to explore the A1 prospect, close to the original Tendrara discovery
Hydrogen fuel gauge
Fri
The company’s technology, DMG, uses a process of small scale gasification to turn waste products into energy rich clean synthetic gas from which electrical power and hydrogen can be produced
oil barrels lined up
April 30 2019
Oil producer Bass hopes to hit a production milestone and add onshore assets.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use