Frankfurt Stock Exchange Listing
Perth, Western Australia – 13 May 2021 – Brookside Energy Limited (ASX: BRK) (Brookside or the Company) is pleased to announce it has commenced trading on the Frankfurt Stock Exchange (FSE) under the ticker (FWB: 8F3).
Highlights
- Supports strategy of broadening our overseas investor base
- Facilitates investment by institutional and retail investors across Europe
- Increases corporate profile in Europe and trading liquidity
Dual listing on the Frankfurt Stock Exchange supports the Company’s strategy to broaden overseas investor base at a time when global oil prices are rebounding, and the Company has reached a critical milestone with the commencement of drilling of the high-impact Jewell Well in the Company’s SWISH AOI in the Anadarko Basin, Oklahoma, USA (Figure1. Below).
The European listing will allow for trading of the company’s shares in Euro currency to assist and
facilitate increased investment from institutional and retail investors across the EU.
Brookside has appointed DGWA, the German Institute for Asset and Equity Allocation and Valuation (Deutsche Gesellschaft für Wertpapieranalyse GmbH) “DGWA” as its investor and corporate relations advisor in Europe.
DGWA, based in Frankfurt (the financial centre of Europe) is the leading European investor relations and corporate advisory firm specialising in ASX listed companies dual-listed, or with operations, in Europe. DGWA will focus on engaging retail, institutional and family office investors in the German speaking DACH region (Germany, Austria and Switzerland) with population of almost 100 million people and rest of Europe. DGWA will also assist Brookside to increase European investor awareness, organise webinars for investors and assist in the translation and dissemination of ASX releases and news flow across the DACH region.
Mr. Stefan Müller, the CEO of DGWA, said “We are excited to be introducing Brookside Energy to European investors at this important stage in the company’s 5-year development program of its Anadarko Basin assets. Crude Oil prices have recovered significantly since their lows of 2020 and investor interest in quality businesses and assets in geographic regions with low sovereign risk such as the United States is strong.
Brookside and its Oklahoma based controlled subsidiary, Black Mesa Energy have strong ESG credentials around engagement and assistance with local communities, conducting its operations in a respectful, safe, and efficient way and taking care of the environment and natural resources in its areas of operation. And we will highlight these value drivers in Europe. ASX domiciled companies (with EU dual listing) are trading at record volumes in Europe due to a surge in retail investing over the past 12 months. We are hopeful Brookside Energy will benefit from these developments and materially increase the European investor base over time”.
David Prentice, the CEO of Brookside Energy Ltd, said “We are delighted to be working with DGWA and to be taking this opportunity to expand our investor relations reach into Europe. Our operations in the SWISH AOI in Oklahoma are progressing rapidly, kicking off with the recent spudding of our much anticipated first operated well - the Jewell Well. We are looking forward to keeping all of our shareholders and investors that are new to our story, up to date as we continue to build on this operational momentum in the Anadarko Basin“.
About DGWA Deutsche Gesellschaft für Wertpapieranalyse GmbH ("DGWA"), the German Institute for Asset and Equity Allocation and Valuation, is a boutique European investment and financial markets consulting firm based in Frankfurt and Berlin, Germany. The management team have a 25-year track record in trading, investing and analysing SME’s around the world. DGWA has been involved in over 250 IPO’s, financings, bond issues, dual listings, and corporate finance transactions as well as corresponding road shows and awareness campaigns.
Background
The Jewell Well will be the first Company operated well to be drilled and completed in the Jewell DSU in the SWISH AOI. Importantly, this well is the first well in a potential 5-year, 20-plus well development drilling program across the three operated DSU’s (Jewell, Flames, Rangers) that the Company controls in the SWISH AOI to develop a conservatively estimated 11,606,000 net BOE Prospective Resource[i] (best estimate, unrisked).
The Jewell Well will be targeting one of two primary producing formations in the SWISH AOI, the Sycamore formation. The Sycamore formation continues to deliver outstanding sustained productivity in nearby offsetting wells. To date, the Casillas Operating, LLC. operated Flash 1-8-5MXH well (located ~3-miles west of the Jewell DSU) has produced ~580,000 BOE in approximately 19-months, considerably higher than Brookside’s conservative estimate for the Jewell Well (see Figure 2). [ii]
Future wells in the Jewell DSU will also target the Woodford formation, which just like the Sycamore formation continues to deliver outstanding sustained productivity in nearby offsetting wells. To date, the Continental Resources Inc. operated Courbet 1-27-22XHW well (located ~1-mile southwest of the Jewell DSU) has produced ~430,000 BOE in approximately 14-months.[iii] As can be seen in Figure 3, the production rate of the Courbet well is considerably higher than BRK’s conservative estimate for the Jewell Well.
Figure 1: SWISH activity map showing the location of Brookside DSUs
Figure 2: Flash Well cumulative oil production to date (barrels of oil) versus time (month) compared to the Jewell Well oil production type curve. Brookside has been very conservative in its production estimate for the Jewell Well producing from the Sycamore formation.
Figure 3: Courbet Well cumulative oil production to date (barrels of oil) versus time (month) compared to the Jewell Well oil production type curve. Brookside has been very conservative in its production estimate for the Jewell Well producing from the Woodford formation.
– ENDS –
Authority:
This announcement has been authorised for release by the Board of Directors of Brookside Energy Limited
For further information, contact:
David Prentice
Managing Director
Brookside Energy Limited
Tel: (+61 8) 6489 1600
Omar Taheri
Founder
SparkPlus
Tel: +65 8111 7634
Gracjan Lambert
Executive General Manager Commercial
Brookside Energy Limited
Tel: (+61 8) 6489 1600
Eliza Gee
Director
ASX Investor
Tel: +61 432 166 431
Forward-Looking Statements and Other Disclaimers
This announcement may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions, which are outside the control of Brookside Energy Limited (“Brookside Energy”, or “the Company”). These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, readers are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Brookside Energy does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions or circumstances on which any such forward looking statement is based.
This announcement does not constitute investment advice. Neither this announcement nor the information contained in it constitutes an offer, invitation, solicitation, or recommendation in relation to the purchase or sale of shares in any jurisdiction. Shareholders should not rely on this announcement. This announcement does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this announcement are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.
The information set out in this announcement does not purport to be all-inclusive or to contain all the information, which its recipients may require in order to make an informed assessment of Brookside Energy. You should conduct your own investigations and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this announcement.
To the fullest extent permitted by law, the Company does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this announcement. No responsibility for any errors or omissions from this announcement arising out of negligence or otherwise is accepted.
ABOUT BROOKSIDE ENERGY LIMITED
Brookside Energy is a Perth-based ASX listed company that generates shareholder value by developing oil and gas plays in the United States, specifically the Anadarko Basin in Oklahoma. The Anadarko Basin is a proven Tier One oil and gas development province with significant existing oil and gas gathering and transportation infrastructure, a competitive and highly experienced oil and gas service sector, and a favourable regulatory environment. Brookside is executing a “Real Estate Development” approach to acquiring prospective acreage in the Anadarko Basin and adding value to it by consolidating leases and proving up oil and gas reserves. The Company then has the option of selling the revalued acreage or maintaining a producing interest. The Company is now set to scale-up its activities and asset base significantly with its operated- interests in the SWISH AOI.
Web http://brookside-energy.com.au
ABOUT BLACK MESA ENERGY, LLC
Black Mesa Energy, a Brookside Energy controlled subsidiary, is a Tulsa-based oil & gas exploration and production company focused on profitable development of petroleum properties located in the Mid-Continent oil province of the United States. Our lean and highly specialized technical and operations team is committed to providing attractive returns for our investors and shareholders by generating and drilling high quality oil and gas prospects. The founders of Black Mesa have worked together for over 30 years at companies they previously founded, including Medallion Petroleum, InterCoast Energy and Brighton Energy. Over the course of their careers, the Black Mesa team has drilled hundreds of horizontal wells and thousands of vertical wells in numerous mid-continent oil and gas basins. In addition to the financial backing from the Black Mesa shareholders, Black Mesa partners with outside investors on larger-scale projects by offering non-operated direct working interest participation.
[i]Refer to the Company’s ASX release of 17 November 2020 for further information in respect of the prospective resource. There has been no material change to the prospective resource since that release.
[ii] Note - Brookside does not hold an interest in the Flash 1-8-5MXH well and these production results are presented for reference only.
[iii] Note - Brookside does not hold an interest in the Courbet 1-27-22XHW well and these production results are presented for reference only.
