BRK - Update

Fellow shareholders and interested BRK watchers (why watch BRK when you can buy!!)

Like you I am frustrated with the woeful BRK share price despite the cheap valuation and positive newsflow we have seen.

There have been a lot of conspiracy theories, accusations and the like posted on HC and social media. Whether they have any substance or not I hink this has been disingenuous in that it is souring sentiment towards BRK just when we want the thing to go up. 

Therefore I would like to bring the discussion back to something a bit more rational. Things we do know are:

+ The production updates over the year have been good. I am pretty sure BRK have not had a well yet that has missed in terms of hitting the black gold (correct me if I am wrong)

+ Earlier this year BRK sold some acreage at approx. 10x what they paid for it. Proof the business model works

+ The maiden reserve valued some acreage at around $30k. Note this was for production at 31 Dec 2017 so does not include production this year i.e. Bullard so I would expect the Dec 2018 should be an uplift of the 2017 reserve report

+ Bullard initial update was good. I would expect (hope for) an additional update of this well shortly

+ Roser is in the process of being sold. Small acreage but will be additional proof of the business model

+ We should get a Swish lease update soonish. Dan P has been posting regular lease updates sourced from Oklahoma itself 

Now the options position is disappointing (I own some) however they are options - essentially a leveraged punt. Sometimes they payoff and sometimes they don't.  These ones I am writing off (ouch!)

Finally the company has an AGM in May. Last year only one shareholder showed up. Its in Perth and I for one plan to go and quiz management (hopefully they put on a lunch with a few beers). It would be good to see a few other shareholders there. 

With this post I risk being accused of being in the pay of the company, Cicero, PAC or some other entity to ramp the stock. A fairly typically accusation on HC. I can confirm that I do want to ramp the stock - I am a shareholder but I hold personally as part of a broader investment portfolio. 

If you want some additional solid BRK research and comment I would suggest you follow the BRK shareholder crew on Twitter. Just search @BrooksideEnergy and you will find them including me.