Looking forward

After the phenomenal outcome for Brookside in the yearly report, what is likely to be going forward?



A substantial contributor to the BOE was the 7 months of production for the Rangers Well.

(Jan 2023 Quarterly)


As such, averaging out over a full 12 months we could expect around 298,800 BOE. An estimated increase of 124,500BOE.

The Wolf Pack well produced over 40,000 BOE in its first month of Feb.
(21 March 2023)

If this is averaged out over a 12 month period it could be likely to produce 440,000 BOE for the next year and possibly greater as stimulation fluid is recovered further.

The unknowns is the Juanita Well with a net pay over 389 feet. We will find out how much this contributes in the likely near future.
(2 March 2023)


Already this is building to an estimated 600,000 BOE (from yearly report) + 124,500 for full year of Ranger + 440,000 from Wolf Pack.
Well over 1 million BOE for the full year.

Oil prices have risen recently along with a falling AUD. If you base full year revenues on USD80 a barrel and AUDUSD at 0.67 you could expect a revenue of around AUD140,000,000 or an increase of AUD87,000,000. A increase of 164%.

On a straight line extension of profits, this would equate to $15.1m + 24.8m = just under $40,000,000. Or an EPS of just over 0.9cps. Looking at the other market players and their PE ratios being around 6x, this would mean a fair value share price of close to 5.5c but could be more.

This is without including Juanita which could be massively significant on its own.

With the next quarterly due out towards the end of the month, it is likely to that revenues to be around $32,000,000 (one month reduction from Wolf Pack). The last quarterly was $16million.



Because it has been sitting at 1.3c level, it doesn't mean it will always sit around this level. When it does start to move, it is likely to move fairly fast.