Ann: Rangers Well Sustained Production, page-2

28 JULY 2022

Rangers Well Sustained Production

Averages 1,200 BOE Per Day Monthly Stable Production

Perth, Western Australia – Brookside Energy Limited (ASX: BRK) (OTC Pink: RDFEF) (Brookside or the
Company) is pleased to provide shareholders and investors with an update on operations from Brookside’s second well
in the SWISH Area of Interest (AOI) in the world-class Anadarko Basin, the high-impact Rangers 36-25 SXH 1 Well
(Rangers Well) (Figure 1).

Production from the Rangers Well is stabilising in line with our modelled reservoir performance, achieving 1,200 BOE
per day average monthly stable production1. By the end of June the well had produced ~ 82,000 BOE (87% liquids) and
delivered a peak oil rate of 952 barrels per day and a peak rich gas rate of 2,126 Mcf per day (including 270 barrels per
day of natural gas liquids)2.

Based on our current forecast (production and pricing) the Rangers Well is expected to achieve well bore payout late in
the third quarter of 2022.

Commenting on this announcement, Managing Director, David Prentice said:
“This is another fantastic result for Brookside and its shareholders. This well has not only performed exceptionally with
significant production and associated revenue, but it has also proven up the very significant yet to be developed oil and
gas resource in this DSU.

“Rangers Well production and revenue, combined with production and revenue from our Jewell Well, and upcoming
sales from our Flames Well, forms a very strong platform for the next exciting growth stage for the Company, signalling
our emergence as a significant ASX-listed oil and gas producer with a large inventory of proven low-risk high-impact
development locations to be monetised.”