Brilliant news on the successful commencement of commercial...

Brilliant news on the successful commencement of commercial production early in the flowback period.

This kicks off the first of 4 projects. BRK / BM have managed to successfully and safely go from the pads being rig ready in Feb, to production from 4 well in September. Now that the wells are flowing, final bills will be paid over the next month or 2 and we should have some color on the actual spend vs budgeted AUD $40 million ( US$26 ).. a massive exercise for the company, considering the BRK MC of ~$50 million. That is analogous to BHP spending ~$160 billion in a 9 month period based on it's MC today.


Will be interesting to see how they report the IP 24, 30 and 90 numbers. Will they be individual well or full field numbers?

Congratulations to the team for not only operating this development, but originating the concept for the acreage, through to winning operatorship against the likes of Camino, Citizen and even CLR, successful pooling of the Woodford initially, and then having the nouse to grab the opportunity to pick up the Sycamore which allowed the wine rack development of both zones simultaneously.

Looking forward to watching the production numbers climb over the next month or 2, and hopefully some encouragement in the SP as well.

Cheers

Dan