Ann: Quarterly Activities Report and Appendix 5B - December 2021, page-149

The only thing that will mess this up for BRK within the bounds of it's operations is the Rangers well being a complete DUD. As this is classed as a development well the risking's are at 95% chance of success for the well and 95% chance of success for the development. If Rangers repeats the Jewell performance then the BRK WI will produce ~double the net cashflow per month ( ~AUD $2 million) that Jewell (~ AUD1 million) has been, and if Rangers repeats the performance of the Sundance Kid well then we will be looking at ~ AUD$3 million a month net cashflow ( at current commodity prices) just from the oil from that well alone.... ( until decline sets in after 3-4 months)

Flames does not need to be drilled at the accelerated pace the company seems to be setting. Once the pad is constructed it has 12 months from the setting of the conductor to spud the well before there are any lease implications.

So there is, nor will there be any cash squeeze on the company, even if non of the options are exercised ( which is a zero % possibility). If Rangers buggers up, which it won't, then BRK will have another 12 months cashflow build to fund the well.

Or they can do what the original plan was for Jewell and Rangers, have a 3rd party fund the BRK WI drilling on a well bore only basis, and BRL have zero interest in the ~2 MMBOE PDP reserves that Flames will prove, but book it's 80% share of the PUD reserves proven throughout the whole DSU .

One thing about BRK , it has a full spectrum of options at it's disposal and as you correctly said " They will be making provision (whatever that may be?) to insure sufficient working capital and funding for capex moving forward", and there are three examples of that even without a further cent coming from option conversion, and if Rangers blows a gasket.

Anything else on your list is out of their control any they will deal with that as well.

Cheers

Dan