AGM, page-26

Yes mate, that is what happens

But the cash is spent to develop the next DSU and it takes a bit of time to refill th coffers for the next.

The FMDP will cost BRK a net US $ 26 million( AUD $40 million)the vast majority of which will be spent from March to Nov 24… BRK currently have $ 33 million in the bank , which includes money from JV partners to fund the 3rd party costs.. when the FMDP is fully paid for by the end of 2024, the BRK net cash should be less the $ 10 million by my rough back of the envelop calculations..

To fund their share of Bruins, BRK will need a few months cashflow from existing and new wells to rebuild the kitty, and will probably need to tap into the mentioned facility if they want to start the Bruins by March 25.


For the next 6 well development, they will need more cash built to fund the ~ US $ 40 million cost to them, plus repay the facilty.

Each subsequent development will be funded by a step up in cashflow as new production is added to existing( including decline), which is why by the time the last development is done, there will be excess cash even after the spend on development.