Banter and General Comments .. BRK, page-8909

This is a wonderful company at this price with oil & gas where it is. Glad I loaded up when the market was handing shares to me at 1.1c

The adjacent Continental drilling program results will guide what we do from here. Management want to get us the milkshake in the fastest time possible but the question is do we want it with lots of foam, full of ice, or as much of the good stuff as possible? And what’s the most efficient (cost effective) way? We can learn a lot on Continental’s dime.

It would be silly to sell any acreage until price of oil is over $100/barrel; we know it’s only 3 months lead time till we see flows if we were to do new wells. We have cash in the bank, and production is solid now for the next 2-3 quarters before declines start to matter.

In the next 6 months we want to see a drill program with 6-10 wells. Wells to create enough cash in the 12-18 months following completion for Brookside to have a negative EV. We should be able to pay for this if we say sell some Bradbury ownership or even JV with someone who puts up the capital (probably even more wells possible). There will be efficiencies doing this and markets are forward looking so this value will be priced in pretty quick.

This is the last chance to buy the bottom.