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Brookside Energy Ltd

Brookside Energy earns almost US$1.5 million from sale of acreage package

Managing director of Brookside Energy Ltd (ASX:BRK) David Prentice speaks to Proactive Investors about the successful sale of around 96 partially developed and undeveloped acres from the world-Class oil and gas Anadarko Basin plays in Oklahoma, USA.

"It's another really strong data point to validate our business model. We were able to achieve 80% of the Net Present Value [NPV] calculated for a fully-developed scenario for that acreage, which was slightly higher than we achieved in the previous acreage sale... That capital will be available to be reinvested in our ongoing leasing campaign... the sale of 100 acres effectively leveraging us into a position to be able to acquire 1,000 acres," says Prentice.

Quick facts: Brookside Energy Ltd

Price: $0.01

Market: ASX
Market Cap: $11.99 m
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Brookside Energy consolidates high-grade position within Anadarko Basin

Brookside Energy Limited (ASX:BRK) managing director David Prentice updates Proactive Investors on a recent milestone in leasing and acquisition activities within the SWISH Area of Interest (AOI) in the prolific oil & gas region of Anadarko Basin, Oklahoma. “We’ve been able to grow...

on 9/7/19

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