Excellent and informative post yet again Dan, many thanks for your time.
Another difference worth noting was the geographical location on the North Slope Alaska for 88E, the sheer isolation/proximity to TAPS pipeline and the Dalton Highway were limiting with ice roads and drilling over tundra during the winter months. 88e oil and gas potential was larger the BRK however with numerous erroneous or failed wells it has become evident that thermal maturity of hydrocarbons are not quite ready in certain zones.
Costs to explore, develop and produce on the North Slope were always limiting factors and aside from being an explorer the plan would have been to farm out much of any proven acreage limiting profitability.
BRK Brookside on the other hand having ~11m (conservative BOE) across 3 DSU, known geological formations including hydrocarbons, close proximity to infrastructure and transport, all year round operational activity. Lower costs to develop equalling a greater return for investors.
Anyways, proof is in the drilling and BRK is doing that right now. Fantastic to see the spud announced however only the beginning with a greater upside to come. The reward is there for those with the conviction to hold and accumulate in the longer term.
Keep well cheers Paul.
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33 | 25718373 | 0.009 |
17 | 5468655 | 0.008 |
6 | 3857000 | 0.007 |
4 | 6335000 | 0.006 |
Price($) | Vol. | No. |
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0.012 | 15655893 | 27 |
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