2 Feb 2023drilling progress report● Neutral
Wolf Pack's isolation plugs have been milled out and the snubbing unit demobilised. Fluid circulation to clean up the well comes next, before flowback. Routine progress; no flow results yet.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
24 Jan 2023admin correction● Neutral
Re-release of the 23 January Juanita update (TD ~6,350 ft, oil shows in all ten zones, logging next). No new information.
23 Jan 2023drilling result▲ Good
Juanita reached total depth of ~6,350 ft, with oil shows and elevated gas readings in all ten target reservoirs. Wireline logging comes next; shows are only an early indicator and no flow or reserves are confirmed. Follows the November rig suspension.
18 Jan 2023drilling progress report▲ Good
Multi-stage hydraulic stimulation of Wolf Pack, the first Phase Two SWISH well, is complete, and the crew is demobilising. Next are milling out plugs, clean-up and flowback. No flow rates yet.
17 Jan 2023drilling progress report▲ Good
Dan D Rig 7 is set up and tested, and Juanita has been re-entered and is drilling at about 3,500 ft. This resolves the rig-replacement thread after the November suspension; logging of the ten target zones is next.
5 Jan 2023drilling progress report● Neutral
A replacement rig, Dan D Rig 7, is mobilising to the Juanita well, with re-entry expected the week of 9 January. It follows the November suspension at ~3,500 ft TVD for over-pressure. No new results; routine progress.
29 Dec 2022contract award▲ Good
Halliburton (spelled 'Haliburton' in the release) has been appointed to run completion operations on Wolf Pack, with crews mobilising and work expected to start the following week. Management says it is on track for a company record for days from spud to first sales.
22 Dec 2022drilling result▲ GoodMajor
Wolf Pack reached total depth of ~17,260 ft in 37 days, with oil and gas shows throughout the lateral, and production casing is run and cemented. Rig release is under way; stimulation and production facilities come next. Flow rates are not yet known.
15 Dec 2022drilling progress report▲ Good
Wolf Pack is drilling the lateral at ~13,500 ft measured depth, with extensive oil and gas shows that the company says match expectations. Shows are an early indicator only; production rates are not yet known.
7 Dec 2022drilling progress report● Neutral
Wolf Pack's curve has landed in the planned Sycamore bench at ~9,900 ft and the well is drilling the horizontal section at ~10,950 ft measured depth. Reported on schedule; routine progress, no flow results yet.
1 Dec 2022drilling progress report● Neutral
Wolf Pack's intermediate section has been drilled, cased and cemented, and drilling of the curve has begun. The well targets the Sycamore with ~7,500 ft lateral and ~17,750 ft planned measured depth. Routine progress, no results.
24 Nov 2022drilling progress report● Neutral
Wolf Pack's surface hole is drilled, cased and cemented, and the well is drilling the intermediate section at ~6,000 ft TVD. Reported on schedule; routine progress with no results yet.
23 Nov 2022production update▲ GoodMajor
The Rangers well has paid out seven months after first production, with drilling and completion costs recovered. It produced ~173,400 BOE (~83% oil and NGLs) and US$13.243m of revenue. This resolves the open payout thread, which had been forecast for late Q3 2022.
21 Nov 2022drilling progress report▼ BadMajor
The Juanita well hit an over-pressured zone in the Springer Group at ~3,500 ft TVD, so drilling is suspended and the rig demobilised as it is unsuited. Oil shows were seen in the first of ten target zones. Restart is likely early in the New Year.
15 Nov 2022drilling spud▲ GoodMajor
The Wolf Pack well, first of the Phase Two SWISH development wells, has spudded using Latshaw Rig 12 and is drilling the vertical section toward the first casing point. This follows the rig contract and pad work; operations are reported on schedule, with no results yet.
9 Nov 2022drilling spud● Neutral
The Juanita well, the first in the new Bradbury area, has spudded with surface casing cemented and is drilling the straight hole at about 2,000 ft TVD toward ~6,450 ft. Operations are reported on schedule; no zone results yet.
7 Nov 2022investor presentation● Neutral
November 2022 company presentation repeating known points: market cap ~A$60m, cash ~A$29.0m at 30 September, ~4,300 acres, 11,606,000 BOE prospective resource, three SWISH units held by production. Text is truncated, so no new detail is confirmed.
7 Nov 2022asset acquisition disposition▲ GoodMajor
Brookside added a fourth operated SWISH unit, the Bruins DSU, next to its Jewell and Flames units, lifting SWISH acreage by 34%. It is not yet held by production; price and interest are not stated here. Adds to the 20+ well inventory.
3 Nov 2022drilling progress report● Neutral
Wolf Pack pad is complete and the conductor is set and cemented. Drill rig and crew are expected on site the week of 7 November. Preparation step ahead of the spud; no drilling results yet.
27 Oct 2022flow test result▲ GoodMajor
The Flames well, producing since early August, reached an IP24 of ~1,500 BOE/day (75% liquids), second highest Woodford rate in SWISH, and an IP30 of ~1,200 BOE/day. This resolves the pending Flames rates and is comparable to Rangers' IP30 of 1,200.
20 Oct 2022drilling progress report● Neutral
Pad construction has started for the Wolf Pack well, the first Phase Two SWISH well, with crews on site and work said to be on schedule. This is early site preparation ahead of the rig contracted for the early November spud.
13 Oct 2022drilling progress report● Neutral
Juanita pad construction is finished and the 70-foot conductor hole is cased and cemented. The rig and crew are due on site the week of 17 October. Preparatory step toward the Bradbury spud; no drilling results yet.
7 Oct 2022investor presentation● Neutral
Managing Director David Prentice will present at the Noosa Mining Investor Conference on 10 November 2022. Shareholders can register for free until 4 November. Notice of an event only; no new company information.
5 Oct 2022drilling scheduled▲ GoodMajor
Brookside has tripled its acreage in the new Bradbury area, east-northeast of SWISH, holding three 40-acre units at ~80% working interest. The first low-cost vertical well, Juanita (~6,450 ft TVD), is set to spud mid-October, funded from cash and cashflow.
28 Sept 2022contract award▲ GoodMajor
Black Mesa has contracted Latshaw Rig 12 to drill the Wolf Pack well, a Sycamore horizontal (~17,000 ft planned) and the second well in the Rangers unit. Spud is expected in early November. It is the first well of the post-HBP development phase.
14 Sept 2022security holder rights change● Neutral
Brookside has set up a sale facility for holdings under A$500 (fewer than 38,461 shares at A$0.013). CPS Capital will buy them at $0.013 unless holders opt out by 31 October 2022. Admin step to cut the cost of small holdings.
13 Sept 2022half year report▲ Good
Half-year to 30 June 2022 shows gross revenue over $22m, adjusted net profit of $9m, gross production of 250,792 BOE and cash of $34m. All three SWISH units are held by production. Highlights only; the full accounts are not in this text.
4 Aug 2022production update▲ GoodMajor
Flames began commercial oil and gas sales during early flow-back, so its unit is now held by production, completing the three-unit HBP program. Brookside's working interest is stated as ~71.3% (earlier estimate ~80%). IP rates to be reported later.
29 July 2022quarterly activities report▲ GoodMajor
Record June-quarter receipts of A$11.723m and operating cashflow of A$7.941m (up 236%). Net production 961 BOE/d (up 117%). Cash A$31.6m (A$23.4m after Loan Note repayment), no debt, 5,011,272,899 shares. Rangers cumulative 81,733 BOE; Rangers unit now held by production.
28 July 2022production update▲ Good
Rangers is stabilising at 1,200 BOE/day average (IP30), with ~82,000 BOE (87% liquids) produced by end-June, up from ~73,160 BOE in June. Peak oil rate was 952 bbl/day. Payout is forecast late in Q3 2022. Resolves the pending IP30 figure; IP24 and IP90 are not given here.