Ann: Bruins Well on Track for 2Q2025 Production and First Sales, page-2

Great to see expeditious work to have completion almost underway considering the well spudded in late February.

Looks like they could have flowback and sales commencing by the second half of June. That will be seen in June production numbers, but cash receipts won't be seen till Q3

The position of Bruins proximal to the Flames well will mean a shut in of the Flames will be needed to protect the well.

This will be at least the 3rd time Flames has been shut in for offset drilling which is a shame as the well was rebuilding nicely albeit slowly after the last shut in.

I'm assuming/ hoping Bruins reproduces the Flames well at a minimum which would be ~1500 BOEPD IP 24 and 1200 BOEPD IP 30. If that comes to pass the BRK's net production should rebuild to ~2400 BOEPD initially, and should average ~2000 BOEDP over FY 2025.

The next 3 or so months in terms of the POO will be crucial for the decision or not to go ahead with drilling 2 wells in the new DSU. Hopefully the company will be able to finally divulge the location and acreage held within this new DSU sooner rather than later.