Ann: SWISH AOI Strategic Acquisition, page-14

No

It will result in further increase in asset value as they have just added ~30% to the NPV of the company once the initial well ( Bruins) is drilled . It just depends if the DSU is for both the Sycamore and Woodford zones.

Looks like a 960 acre unit.

Mostly primary acreage leasing that would have cost US$1000-2000 per acre.

When the pooling order comes up will be able to see the leasing terms as that is where most of the acres are picked up but should cost US $2 million or less IMO. Will be interesting to see if they can get ~70-80% WI. We may find more parties will choose to participate in the well and DSU because of the extraordinary operational success BRK/BM have had in proving they can drill , produce high quality and very profitable wells.

Winning this DSU should change the drilling program almost certainly because they will preference drilling this well ahead of a development well on an existing DSU. This will probably p%$s off a few here that hate it when BRK alter a " plan" to take advantage of an opportunity

To be able to pick up this DSU, which is sandwiched between 2 existing DSU's is an incredible feat. The location is significant to the effect that any development of the 3 DSU's will be able to be done much more efficiently in terms of well spacings. This will also add to the value as 3 contiguous DSU's will be more valuable than 3 sperate individual DSU's of identical sizes.

Another great day to be a Brookie!..... but Mr / Mrs Market will probably give it a big yawn because once again ( when the DSU is drilled to HBP) they have NFI what this actually means for the company and shareholders in terms of value creation.