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Brookside Energy’s transformational business model validated with successful strategic divestment

Brookside Energy Ltd (ASX:BRK) managing director David Prentice explains the company’s strategic focus to Proactive Investors, as a successful case study is revealed to the market. The oil and gas E&P company, which operates in the world-class Anadarko Basin in Oklahoma in the US, has adopted a land leasing and development approach that is “somewhat unique” in Australia, but has a proven history in the US.  

“Essentially, we’re acquiring undeveloped acreage across the Anadarko Basin in the hope of having that acreage revalued, as well as get drilled and reserves get booked…we’re very passionate about the fact that this strategy provides the best leverage for our shareholders,” says Prentice.

Brookside today announced the divestment of the first of its non-operated development units that has progressed to ‘full field’ development, at a price per acre that is greater than 10-times the average acquisition cost.

Quick facts: Brookside Energy Ltd

Price: 0.009 AUD

ASX:BRK
Market: ASX
Market Cap: $12.15 m
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Brookside Energy earns almost US$1.5 million from sale of acreage package

Managing director of Brookside Energy Ltd (ASX:BRK) David Prentice speaks to Proactive Investors about the successful sale of around 96 partially developed and undeveloped acres from the world-Class oil and gas Anadarko Basin plays in Oklahoma, USA. "It's another really strong data point...

on 07/31/2018

2 min read