Brookside Energy will use sale proceeds of US$1.475 million to...

Brookside Energy will use sale proceeds of US$1.475 million to continue aggressive US leasing strategy

Brookside’s managing director David Prentice said: “We are delighted to present these latest production results from our non-operated working interest wells in the STACK Play.
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These are prolific producers and these results together with those that we have previously announced, confirm our view that the Anadarko Basin Plays are world-class, sitting comfortably alongside the very best oil and gas resource plays in the US.

We continue to see outstanding results from the wells that we have participated in; both in terms of initial production and estimated time to payout.

We have now established a “body of work” in terms of initial and sustained production that will feed into our maiden reserve report and provide further support for our acreage acquisition and revaluation business model.”
16 horizontal wells now drilled in Anadarko

Brookside has now participated in the drilling and completion of sixteen horizontal wells within the STACK and SCOOP Plays in the Anadarko Basin.

Production has now been established in fourteen wells, with average IP24 of around 2,400 BOE per day achieved across these wells.

($1.475million sale - not a bad effort when one sale alone is 10% of your market cap!!) GLTA