Brookside Energy
Primary ticker: ASX:BRK, OTC:RDFEF
Stage of development: Development, Production
Primary minerals: Oil, NGL’s and Gas
Project to promote: SWISH AOI – Anadarko Basin
Project location: USA
Website: brookside-energy.com.au
Brookside Energy, is a financially disciplined oil and gas producer in the US, set to become a leading small-cap ASX-listed oil and gas company.
As of 1Q2023, Brookside Energy are producing 1,200 BOE per day (60% liquids) from 11.6 million BOE in NET proven reserves. Their current drilling program is set to double production by 4Q2024, paving the way for full field development.
Brookside holds around A$32 million in cash, boasts strong operating cash flows (FY2023 EBIDA of $27.6 million), and carries no debt. The company focuses on shareholder returns, evidenced by a 5% share buy-back in FY2023 and plans for more, supporting growth and value enhancement.
Major shareholders:
BNP PARIBAS NOMINEES PTY LTD – 9.6%
HEDTEK PTY LTD – 4.2%
DAVID PRENTICE – 2.3%
STANDARD PASTORAL COMPANY PTY LTD – 2.2%
BEARAY PTY LIMITED – 1.6%
MANAGEMENT OWNERSHIP – 5%
Financials
Management Profile
David Prentice – Managing Director
Senior resources executive with 30 years domestic and international corporate finance and executive management experience. During the last 20 years, David has gained international oil and gas exploration and production sector experience with a specific focus on the Mid-Continent region of the United States. David is Managing Director of Brookside Energy Limited and Chairman of that Company’s operating subsidiary Black Mesa Energy.
What is your rationale for taking part in 121 Mining Investment?
Increase market and investor awareness and increase our HNW and institutional investor base.
What recent news would you like to highlight to investors attending?
1Q2024 Results.
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Complete four well drilling program currently underway, safely, on time and on budget.
6 Months:
Bring these four wells online and turn to sales.
12 Months:
Move seamlessly into full field development of the entire SWISH AOI reserve base.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Maintaining our track record for operational excellence.
What do you think makes your company such a compelling investment?
We are significantly undervalued compared to our peers across all key metrics.
What are the top 3 key investor takeaways?
– Financially disciplined oil and gas producer with a track record for operational success.
– Strong balance sheet, cash flow positive with no debt.
– Fully funded to execute current transformational drilling program and move into full field development.