Ann: Wolf Pack Well Completion Operations, page-67

yep agreed, now is the time to be cashing out. They have said they are in the monetisation phase right now so that implies they are active in the sale process... they won't tell us the specifics until a deal is done as is the appropriate thing to do.

As far as wages are concerned, DP will be able to lift his corporate earnings/charge out rate significantly once a deal is done . Just sitting on his hands getting $240 K a year " till it's worth nothing" won't get him very far.

Real investors with brains put literally $ billions into companies like BRK in the states each year as PE and family houses with a deep understanding of the private model have done for decades.... the Aussie mum and dad investors and gun shy institutions who don't have local experience / knowledge of this type of oil and gas investment are keeping away and in all honesty you probably can't blame them at this point. This will change when a deal is done, and a deal will be done because that is the only way the BM guys will get paid. They are not making any real bucks through their wages atm and the structure has been designed specifically to ensure this is how monetisation happens..... build, rinse, repeat .






In terms of depletion rates, as per above, the BRK wells are performing pretty well on par with the Springboard III Wells as per with Jewell at 396000 BOE cum prod from 1/9/2021-30-9/2022 ( better than BRK modelled decline ) and the Sundance Kid affected Rangers doing 153,000 BOE in just under 6 months ( slightly below base BRK model) . CLR are buoyant over what is happening at Springboard III ( AKA SWISH AOI) and are certainly not baulking at investing big money drilling there. Admittedly, BRK's first 3 wells haven't hit the heights of some of the later wells like Sundance Kid, Billy the Kid or Bowery, but Wolf Pack ( bearing in mind the shorter lateral) having a Halliburton completion and free air in terms of offset well interference has a pretty good shot ... hopefully we find out in 3-4 months with an extended ramp up.

IOM what they do with the cash on sale will be either a BB, cash distribution or a mix of the two. I would also throw in a consolidation just for kicks.