Banter and General Comments .. BRK, page-11752

Now that BRK are developing the asset, the “ old” NPV is actually the most appropriate measure of company value because it’s based on discounted future net cashflow generated by the asset, where the NPV changes according to commodity price sensitivities.

For the 3 years (2022-2024 inclusive), the SWISH asset will have generated AUD $150- 160 million revenue with net profits of $ 40-45 million. Three of the 4 wells were not drilled for production, but to prove the resource and convert it to reserve status.

BRK will be converting that inground discounted value into cold hard cash as it drills and produces the next ~20 essentially fully funded wells generating~ $ AUD600 million in revenue and over AUD$250 million in profits over the next 5 years ** ( 2024-2028 at US$ 70 oil and US$2.5 gas), and ~ double that over the lifetime of the wells.

This is just for the “ current” SWISH operated asset.

That is what the polished turd is going to deliver as guided by BRK.

What the market does in response, good, bad or indifferent over that time is up to it.

Cheers

** ( April 17, 2024 Ann….USD conversion price at 66c for calculation)