Past year: ▲ 0%(38.0c – 60.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 July 2024drilling progress report▲ Good
Completion work has started on Rocket (46 stages), then moves to the three-well Sanford Pad using zipper fracs. Company still targets first sales late Q3/early Q4 and 2,500 BOEPD net by Q4 2024. No flow results yet.
11 July 2024well test result▲ Good
Wolf Pack well, the 2023 SWISH well with a 2,034 BOE/d peak rate, has paid back its drilling and completion costs in 13 months, after ~424,000 BOE sold and over US$21m revenue. It is the third SWISH well to pay out, after Jewell and Rangers.
20 June 2024drilling result▲ GoodMajor
Rocket, the fourth and final FMDP well, reached 17,955 feet and is cased; all four wells took 115 days versus 136 planned. Completions start late July/early August, with first sales late Q3/early Q4 and target of 2,500 BOEPD net by Q4 2024. No flow rates yet.
19 June 2024investor presentation● Neutral
Gold Coast Investment Showcase presentation repeating known points: 11.6 MMBOE 2P reserves, A$32.7m cash, no debt, 5% buy-back completed, and production growing to 6,300 BOEPD by FY2028. No new information in the text seen.
5 June 2024drilling progress report● Neutral
Rocket continues drilling the lateral at about 13,178 feet. Construction of the Sanford Pad tank battery has begun off-site, with tanks due in coming weeks. Company says on budget and on time. No results yet.
29 May 2024drilling progress report● Neutral
Rocket's intermediate section is cased, the curve is landed, and the lateral is drilling at about 9,205 feet. Company says on budget and on time. No results yet.
24 May 2024investor presentation● Neutral
AGM presentation held 24 May 2024, repeating known points: 11.6 MMBOE 2P reserves, A$32.7m cash, no debt, and the drilling program to double production by Q4 2024. No new information in the text seen; AGM results not shown.
22 May 2024drilling progress report● Neutral
Rocket, the final Flames-Maroons well, has surface casing cemented and is drilling the intermediate section at about 7,047 feet. Company says on budget and on time. No results yet.
16 May 2024drilling result▲ Good
Fleury finished drilling at 13,115 feet and production casing is cemented. The company says the Woodford lateral crossed numerous fracture swarms with notable hydrocarbon shows. These are drilling indications, not flow results. The rig has moved to Flames Pad and spudded Rocket, the fourth and final well.
15 May 2024investor presentation● Neutral
Presentation for the London 121 investor conference repeating known points: 11.6 MMBOE 2P reserves, A$32.7m cash, no debt, and the drilling program aiming to double production by Q4 2024. No new information.
9 May 2024drilling progress report● Neutral
Fleury's intermediate casing is cemented, the curve is landed and the lateral is drilling at about 12,975 feet. Company says on budget and on time. No results yet.
8 May 2024farm in farm out agreement▲ GoodMajor
Brookside will join Continental Resources' Gapstow full field development next to its Bruins and Jewell units, in seven wells at 20.9% working interest for a net US$2.5m, already in the 2024 capex budget. The company expects about 150 BOE/d net (70% liquids) from the December quarter.
2 May 2024drilling progress report● Neutral
Fleury's intermediate section is drilled to about 7,825 feet and casing is being run and cemented. It is the third of four Flames-Maroons wells. Company says on budget and on time; no results yet.
1 May 2024investor presentation● Neutral
Notice of an investor webinar on 2 May 2024 on March quarter results, hosted by David Prentice. Administrative; no new information.
24 Apr 2024drilling progress report● Neutral
Maroons is cased and the rig has moved to Fleury, the third of four wells and a Woodford target, drilling the intermediate section at about 2,250 feet. No results yet.
18 Apr 2024drilling result▲ Good
Maroons finished drilling at about 12,665 feet, on budget and schedule. The company says the Sycamore lateral crossed numerous fractures with continuous gas shows. These are drilling indications, not production results. The rig now moves to Fleury.
17 Apr 2024resource reserve update▲ GoodMajor
Brookside outlines a 16-well full field development of SWISH from early 2025, after the current drilling program. Forecasts (at US$70 oil) are ~4,500 BOE/d and US$51m net income in 2028. Updated 2P reserves are 11.6 MMBOE, down from 11.9. Net capex is estimated at US$126m, funded from cashflow and a credit facility of up to US$15m.
10 Apr 2024drilling progress report● Neutral
Maroons' intermediate section is cased, the curve landed, and the lateral is drilling at about 8,500 feet. The company says operations are safe, on budget and on time. No results yet.
3 Apr 2024drilling progress report● Neutral
Casing and cementing of the Iginla lateral was completed and the rig was walked to the Maroons Well. Maroons, the second of four Flames-Maroons wells and a Sycamore target, was drilling the intermediate section at about 6,800 feet. No results were reported.
28 Mar 2024annual report▲ Good
FY2023 annual report: after-tax profit A$16.65m (2022: A$15.10m), no dividend. Net production 509,921 BOE for the year; 1,410 BOE/d at December quarter. Restates known points: 11.9 MMBOE 2P reserves, the Flames-Maroons plan targeting ~2,500 BOE/d by Q4 2024. Text is truncated.
28 Mar 2024drilling result▲ GoodMajor
Iginla, the first Flames-Maroons well, finished drilling at about 18,685 feet, on budget and schedule. The company says the lateral crossed numerous fracture swarms with gas shows in oil-prone Woodford shale. These are drilling indications, not production results; casing is being cemented.
28 Mar 2024admin correction● Neutral
Appendix 4G and corporate governance statement for FY2023, pointing to the company website. Compliance filing with no new information on operations or finances.
20 Mar 2024drilling progress report● Neutral
Iginla's lateral is drilling ahead at about 16,500 feet, on budget and on time. The rig will then move back to Maroons. No results yet.
14 Mar 2024drilling progress report● Neutral
Iginla's curve is landed and the rig is drilling the lateral at about 11,100 feet measured depth. The company says operations remain on budget and on time. No results yet.
13 Mar 2024investor presentation● Neutral
Brisbane conference deck repeating known points: 11.9 MMBOE 2P reserves, 1,410 BOE/d, about A$26m cash, no debt, and the drilling program aiming to double production by Q4 2024. Says further buy-backs are contemplated after the drilling program. No new information.
6 Mar 2024drilling progress report● Neutral
Iginla's intermediate section is drilled and cased at about 7,800 feet. The curve is next, then the lateral. The company says operations are on budget and on time; no results yet.
28 Feb 2024drilling progress report● Neutral
Maroons and Fleury have now also spudded, so three of four Flames-Maroons wells are started, with surface holes cased. The rig is back on Iginla drilling the intermediate section, and the company says it is on budget and on time. No results yet.
23 Feb 2024director officer appointment● NeutralMajor
Chris Robertson, a Sydney-based investor and shareholder since 2016, joins as independent non-executive director from 1 March 2024. Brookside also buys out the 11.6% back-in interest held by US executives, paying a 1.3% SWISH royalty plus seven instalments of about US$618,000 from 2025.
19 Feb 2024drilling spud▲ GoodMajor
The first of four Flames-Maroons wells, Iginla, has spudded, with Kenai Rig 19 set up ahead of schedule. This begins the drilling the company calls transformational, targeting about 2,500 BOE/d by Q4 2024. No results yet.
8 Feb 2024drilling progress report● Neutral
The Sanford Pad is ready for the drill rig, with conductors set on the Fleury, Maroons and Iginla wells. Kenai Rig 19 is due within 10 days, and grid power is connected, saving generator rental. Continues the Flames-Maroons plan; no well results yet.
