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Brookside Energy rewards long term shareholders with listed options

The company revealed its maiden oil and gas reserves in early December 2018.
map of Anadarko Basin and asset locations
The company is focused on assets in the Anadarko Basin in the US state of Oklahoma

Brookside Energy Ltd (ASX:BRK) has made good on its pledge to reward holders of expiring options by issuing replacement listed options.

An important step in delivering on this was completed yesterday with the lodgement and opening of the required prospectus offer.

Under the prospectus offer, 225.14 million listed options exercisable at 3 cents expiring 31 December 2020 will be available to eligible applicants.

The offer is open to holders of the recently expired listed options exercisable at 2 cents.

READ: Brookside Energy achieves strong, sustained production from Woodford Shale well

In mid-December 2018, Brookside confirmed strong, sustained production results from its first Woodford Shale well in the world-class Anadarko Basin (SCOOP Play) in Oklahoma.

At the time, the Bullard #1-18-07UWH well had produced about 110,000 barrels of oil equivalent (BOE) (65% oil) in less than 3-months.

Brookside’s first three months net revenue is estimated to be about US$850,000, attributable to its 20.57% working interest.

This followed the company’s maiden declaration of reserves in early December of 3.45 million barrels of oil equivalent (MMboe) confirming the success of its acreage acquisition and re-valuation strategy in the USA’s prolific Anadarko Basin.

READ: Brookside Energy declares maiden reserve of 3.45 million barrels from Anadarko Basin in US

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