Before the Jewell well was spudded, BRK had ~ AUD$ 1.3 million in the bank and owed ~us$ 3 million in the land leasing facility.
1) The $ 8.5 million raised at 0.75 c in March 21 funded the Jewel and part repayment of the leasing facility( rest repaid by equity)
2) The $9 million at 3 c in Aug 21 funded the Rangers well
3) The ~ $ 22 million raised by the exercise of the 1.1 c oppies , most of which came in just before expiry on June 30 , 2022 barely funded Flames and Wolfpack. WP suffered significant services cost inflation which lifted total D&C costs by over 20%( ~US$ 2 million)
When Jewel was spudded, the BRK lease position in SWISH was ~ 2000 acres … it is now~ 4000 acres . ( ~ US$ 1000 per acre) . In that time BRK has drilled Juanita ( US $ 2.5 million), spent ~ $ 3 million on the buy back, and then there are the corporate , regulatory etc costs
BRK Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
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