Ann: Brookside Increases Anadarko Basin Holdings by 30%, page-27

The problem as i see it, with BRK at present.

there is no coin flowing into BRKs purse until Merchant get paid back their load, and then merchant get a 25% revenue interest. Black mesa also get a 25% working interest.

BRK are running out of cash, and need a CR.

When the second wells of these blocks get drilled, BRK will need to contribute?.

They only have funding for the first hole in each block ? !!

They cant just sell the acreage wholesale ?!, as they have small interests in many blocks.?

I maintain, that the company has not presented a clear and transparent cash flow model for return to BRK holders.

The illusion, is that the acres get sold with the wave of a wand, but the reality is that the stage show will need to be propped up with CR cash.

Ask management to present a cash flow model to BRK, with payments from wells flowing, WHEN ?(after merchant repaid) and also when any sale process of land can occur subject to other participants on wells ??, but requiring more funding from shareholders for second wells ? !!

Its seems to me, the cash flow return is constricted, and sale process convoluted.
When do BRK holders get a penny ? Or do they just keep funding this?