The development risk is essentially zero. The geological POS of...

The development risk is essentially zero.

The geological POS of any well is 100% as this is a resource play that just needs horizontal drilling and fracking to develop. Since 2017, BRK been involved in as a minority WI partner in over 70 wells, operated 4 ( excluding the current 4), all of which have been successful.

The are multiple interconnecting gas lines running through the AOI which can be tapped into and numerous oil refineries where the oil is trucked to. The hydrocarbons produced are sold immediately into the worlds hungriest market..

The regulatory framework in Oklahoma is possibly one of the most supportive jurisdictions for oil and gas development in the world. You can have a drilling permit approved within a couple of months, and have the well producing to sales within 6 months of spudding.... compare that to how long it takes here in Australia.

Development risk is not the reason for the share price/ share value disparity.... indeed, news regarding BRK's highly successful operations is considered as " fluff' news by many here.

BRK's lack of share market success is multifactorial, some market based , eg) negative market sentiment to oil and gas , especially small cap and lack of perceived significant sexy high risk, very high reward blue sky exploration which can lift interest during drilling. "Boring no risk " development drilling with a longer pathway is currently unappreciated.

....and some company based, eg) Lack of institutions on the register... WA lifestyle company....perception of management ... communication style resulting in confusion, misunderstanding.

I think it is pretty safe to say that most detractors lay the blame for the lack of share market success / recognition squarely on the shoulders of management. Whilst I disagree with most of that opinion, there is no doubt that management are not perfect, and have made mistakes, especially in the lines of communication . These communication errors only serve to reinforce the negative views towards management of those that hold them, and also can temper the views of long term supporters ( the AGM resolution notes being the latest example).

Cheers

Dan