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Brookside Energy in trading halt ahead of capital raising announcement

The halt will remain in place until the start of trading on February 10 or until an announcement is released.

Brookside Energy Ltd - Brookside Energy in trading halt ahead of capital raising announcement
Thelma Well in Oklahoma was brought online last month with initial output of 130 barrels per day.

Brookside Energy Ltd (ASX:BRK) (OTCMKTS:RDFEF) has been granted a trading halt as it plans and executes a capital raising.

The halt will be in place until the start of regular ASX trade on Wednesday, February 10, 2021, or when an announcement is released to the market, whichever occurs earliest.

Second sale from Thelma

Brookside recently made the second sale from the Thelma 12-1 well in the SCOOP Play, northeast of the SWISH Area of Interest within the Anadarko Basin of Oklahoma, USA..

The second load of oil of around 300 barrels was sold on January 20, 2021, following an initial load of 313 barrels on December 30, 2020.

The reservoir continues to perform as expected and is being produced in a safe and efficient manner aimed at maximising future oil recovery and revenue.

With seven known potential reservoirs, all of which are proven producers in the area, a thorough geological, geophysical, and engineering review will ensure the optimum well design and placement of any future low-cost vertical wells.

Quick facts: Brookside Energy Ltd

Price: 0.014 AUD

Market: ASX
Market Cap: $23.12 m


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