Banter and General Comments .. BRK, page-9838

Sorry mate.

Haven't put up any BRK wells yet as Flames , Rangers, WP oil data for April, May and June not up in the tax site yet, and Jewell gas data for those months not up either.

But Flames and Rangers slowly ramping back up, both at ~30 MMCFG for June, WP at 70 MMCFG for June so no substantial gas , NGL decline as yet . I would guestimate WP oil at 25-30,000 barrels in June after peaking at 41,000 BO in March.

I would guestimate Sept quarter production to be a bit below June quarter, as CLR D@C ed a long horizontal well south of the Rangers DSU which would almost certainly shut in Rangers and WP for a few weeks to protect them from a potential frack hit... but oil prices have risen since the June Q and we have some 5000+ barrels from Juanita to add so gross revenue may not be down much.

I would expect net revenue to be down as the June Q net benefitted from lower royalty and WI payments from the lower march Q gross revenue, whereas the Sept Q will see the full effect of payments owing for the record June Q.... we should however get a bit of a boost from collecting hopefully most of the ~$2.5 million JIB receivables from the WP well.

JIB or ( Joint Interest Billing) can allow for well drilling/ completion costs owed by non operators to be payed from production revenue . The operator bills the WI parties and can be reimbursed for those outstanding amounts by offsetting those costs against what is owed to the WI parties from their share of net production revenue.

Depending on how aggressive BRK are in the BB for the rest of the Sept Q, and with no surprise new venture expenditure, I would estimate cash to be $28-30 million if all outstanding JIB's are received.

Cheers

Dan