Brookside Energy Limited
Primary ticker: ASX: BRK OTC: RDFEF
Stage of development: Exploration, Development, Production
Primary minerals: Oil, NGL’s and Gas
Project to promote: SWISH AOI – Anadarko Basin
Project location: United States
Website: brookside-energy.com.au
Brookside is a publicly traded Company, producing oil and gas from a focused portfolio of onshore assets in the United States. We draw from the legacy of the most successful private E&P companies, that have consistently delivered exceptional returns to investors over many decades. As of 2Q2024, we are producing 1,100 BOE per day (61% liquids) from 11.6 million BOE in NET proven reserves. We are set to double production by 4Q2024, from our recently completed four well development drilling program. Brookside holds around A$24 million in cash, boasts strong operating cash flows (FY2023 EBITDA 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.
Cash: AUD $24M
Debt: NIL
Major shareholders:
BNP PARIBAS NOMINEES PTY LTD – 8.6%
HEDTEK PTY LTD – 4.2%
DAVID PRENTICE – 2.8%
BEARAY PTY LIMITED – 1.6%
TUTAM PROPERTIES AU PTY LTD – 1.5%
Management Ownership -5%
Financials
Management Profile
David Prentice – Managing Director
David is a senior resources executive with 35 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 expertise 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 wholly owned 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?
2Q2024 and 1H2024 Results
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Complete flow back and testing of the recently completed four well development drilling program
6 Months:
Establish sales and cash flow from the recently completed four well development drilling program
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 our strategy and deliver value for shareholders