Sign up
Oil Capital

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 to validate our business model. We were able to achieve 80% of the Net Present Value [NPV] calculated for a fully-developed scenario for that acreage, which was slightly higher than we achieved in the previous acreage sale... That capital will be available to be reinvested in our ongoing leasing campaign... the sale of 100 acres effectively leveraging us into a position to be able to acquire 1,000 acres," says Prentice.

 

View full BRK profile View Profile
View All

© oil Capital 2018

Oil Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed oil companies to interact with institutional and highly capitalised investors.
Headquartered in London, Oil Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.