- Brookside Energy (BRK) records 389 feet net of pay from well log interpretations for its Juanita Well in the Ardmore Basin in Oklahoma
- The logs indicate the net pay over 1119 feet of gross pay across the primary, secondary and tertiary pre-drill target zones
- Net pay is a measure of the thickness of hydrocarbon-bearing reservoir rocks within the well, and BRK has now set and cemented the well ahead of production testing
- The company has also started the construction of surface facilities in preparation for the testing program and says its operations are proceeding on schedule
- BRK shares are down 4.17 per cent to 1.15 cents at 11:21 am AEDT
Brookside Energy (BRK) has recorded 389 feet net of pay from well log interpretations for its Juanita Well in the Ardmore Basin in Oklahoma.
The logs indicated the net pay over 1119 feet of gross pay across the primary, secondary and tertiary pre-drill target zones.
Net pay is a measurement of the thickness of hydrocarbon-bearing reservoir rocks within a well, and, as such, BRK’s well log interpretations indicate productive zones across all of the company’s pre-drill targets.
BRK Managing Director David Prentice said the company was “very pleased” with the results.
“These results are particularly encouraging in the context of the expanded Bradbury AOI, with successful tests of these zones providing a great platform for continued growth in this exciting AOI,” Mr Prentice said.
“The opportunity to drill further relatively low-cost, high-return liquids-rich vertical wells adds another important leg to our future development plans, and we look forward to providing further updates on testing over the coming weeks,” Mr Prentice said.
Production casing has been set and cemented in place, and Brookside has now begun the construction of surface facilities ahead of production testing.
The program is expected to take several months to complete and will test the reservoirs sequentially, starting with the lowest at just over 6000 feet total vertical depth.
Brookside envisages that sales of hydrocarbons will begin during the production testing phase.
BRK shares were down 4.17 per cent to 1.15 cents at 11:21 am AEDT.