Banter and General Comments .. BRK, page-9696

Haha, not a grumpy post in the context of grumpy BRK posts

The idea of funds for JV or drilling partnership is not a sudden idea for BRK management though, that's the point I was trying to make. It might be a sudden idea for some shareholders, but not for the company.
Selling SWISH DSU's outright would result in no need for SWISH drilling capital for obvious reasons. JV or drilling partnerships would need some capital, and developing the DSU's outright would need a bucket load of capital. That is why the last option was always going to be the least preferred for of monetisation.


When we see an announcement on a monetisation event , if it is a drilling JV/ partnership, it would be at least 2-3 months post the announcement before any cash would need to be deployed... so we probably have till the end of the year before at the earliest before we see any material SWISH JV drilling spend.

You may be right when you say the buy back could be a token gesture to lessen the pain for vocal and disgruntled shareholders . Wouldn't say it has worked judging by the continued howls of protest. However, with the share price as it is, using some of the BRK cash for a buy back is the best use of the capital. Whilst 2.6 % of the equity base bought back in just under 3 months is not a sprint, it is a start . It would be even more frustrating if in this hiatus in SWISH activity, the company wasn't conducting the buy back... now that would be a wasted opportunity as it wouldn't be doing anything differently operationally. I doubt if BRK was currently trading at 3 cents we would be seeing a buy back.

Agree post any monetisation, even if it is BRK retaining exposure in drilling JV's in all current SWISH DSU's, it is unlikely we will be able to step change the business to a larger scale in the SWISH. That will almost certainly need to be done elsewhere in Oklahoma, hopefully somewhere else in the over-pressurised Anadarko basin margin . The Bradbury AOI should hopefully develop into a meaningful, highly profitable production base, but IMO it is unlikely to propel BRK into the next league up in market cap.

Drilling JV's would mean, especially if BRK were able to operate the Rangers, Jewell and Bruins DSU's , BRK's focus would still be in the SWISH for another 18-24 months. This would probably slow down any large scale move away from SWISH until full field development and capital spend is complete.

Good chat!

Cheers

Dan