Ann: High-Impact Jewell Well Fully Funded, page-83

what is with you guys... some ex bitter holders showing face obviously ...

so what are you getting at... you think all that is at play at present is a flop with no potential future.. ??

even in the last qtry they were proactive... have a look at this summary... what do you think they are doing, sitting on their hands just raising money for nothing with no potential?

Brookside Energy Ltd (ASX:BRK) continued to execute its strategy focused on the world-class Anadarko Basin in Oklahoma, USA during the December 2020 quarter making progress across each of the three pillars of operated drilling, producing properties acquisitions and land and leasing.
With the improved outlook for pricing gathering momentum during the quarter, the company (while maintaining momentum in the Orion Project joint venture) began to increase its focus on its acreage in the southern part of the SCOOP Play, and the company’s operated high-grade DSU’s within the SWISH AOI in Oklahoma.
Drilling and completion activities

During the quarter, Brookside reported results of its analysis of sales data for Brookside’s non-operated wells in the STACK Play measuring time to achieve payout as a key metric of success.
This analysis showed that 75% of the wells that have achieved payout to date did so within 12-months of first sales with the average time to payout being 16-months.
The company believes this is a ‘tremendous’ result given the recent variance in commodity prices.
Furthermore, these results show that focusing on the exploitation of premium acreage with low entry costs is a successful strategy that is very robust and can withstand commodity price cyclicity to continuously deliver strong cashflow and high rates of return.
Orion project JV

During the quarter the company closed on its third Orion Project Joint Venture acquisition with Stonehorse Energy Limited (ASX:SHE).
The third well acquired by the joint venture, the Thelma 1-32 well, which is in Murray County, Oklahoma was drilled and completed in 1992 as a vertical well targeting the Simpson Group and was spaced on a 40-acre HPB DSU.
This well is located around 20 miles east-northeast of Brookside’s Jewell DSU in the SWISH AOI in an area that exhibits high oil production per unit with multiple discrete high porosity high permeability target zones.
A workover and restorative operations were successfully completed on the Thelma well by Brookside during the quarter on time and on budget. Geological logs identified a behind pipe zone of interest in the Simpson Group which was isolated, perforated and cleaned up with the Thelma well set to be brought back online post a successful production test.
The joint venture is continuing to work up a pipeline of opportunities that can be pursued during this period in the commodity pricing cycle.
In this regard, Black Mesa has identified many potential acquisition targets within the SWISH AOI that satisfy the Joint Venture’s investment hurdles and work to advance these opportunities.
Production and cash flow

Oil and gas production and sales continued during the quarter, with volumes coming from a mix of drilling JV wells and from wells funded by Brookside.
Cash flows from operating activities for the quarter include receipts from sales of A$303,000.
Accrued revenues are not included in receipts from sales for the quarter.
Outflows for the quarter of A$830,000 comprised expenses related to leasehold acquisitions and title opinions, JIB’s, drilling and completion expenses, production costs (lease operating expenses) and administration and corporate costs.