Share Price: 0.011/0.012
MC: $6.3M,
Shares: 525 M
Cash: $830,000
Brookside is an ASX junior player in the oil and gas sector focused on the mid-continent region of the United States. Brookside’s goal is to build value per share through a disciplined portfolio approach to the acquisition and development of producing oil and gas assets and the leasing and development of acreage opportunities.
Brookside, together with its partner Black Mesa Production, LLC (Black Mesa), is building a position in the core of the STACK play in Oklahoma. The STACK play is attracting significant attention from both industry players and the US investment community as this major oil and gas play continues to deliver results that support key attributes of repeatability, robust economics and substantial future development potential with attendant production and reserve growth.
My STT enty of BRK is based on the significant progress that it is making in the US STACK Play. They have recently secured a off-balance sheet funding of $3.5 m AUD from Merchant Fund to drill up to 10 Wells with the very first one is in work at the moment. Merchant Fund now also is holding 16.02 % shares of BRK, they participate in the share placement, they buy on market straight away, Matthew Walk has been buying up big as well. All details are attaching below.
We shall see a real qucik wake up once Mr Market catches the picture here, it is not a small stock here, it shouldnt be a 1 cent stock, I have a share price target of at least 4 cents which would give BRK a appx 25 M MC to start with.
