Operational Update on Flames-Maroons Development Plan (FMDP)

Brookside Energy Limited (ASX:BRK) has successfully completed the drilling out of composite frac plugs on all four Flames-Maroons Development Plan (FMDP) wells. The company has commenced well cleanup operations and is progressing with flowline installation and wellhead connections, aiming for first sales in late Q3 or early Q4 2024. The FMDP targets the highly productive Sycamore Lime and Woodford Shale formations in the SCOOP area of the southern Anadarko Basin.

Executive Commentary on FMDP Progress

We are extremely pleased to have successfully completed this final stage of operations for the FMDP wells. The drill-out of the isolation plugs marks the completion of a complex and carefully executed process to drill and stimulate these wells. With cleanup operations now underway and flowback preparations in progress, we are entering the final phase before first sales. The success of this stage significantly de-risks the project, putting us in a strong position to deliver meaningful production growth and further value for our shareholders as we approach our target production of 2,500 BOEPD.

Summary of FMDP Operational Update

Brookside Energy (ASX:BRK) has completed the drilling out of composite frac plugs on all four FMDP wells, with cleanup operations and flowback preparations in progress. The company targets first sales in late Q3 or early Q4 2024, positioning to increase net production to 2,500 BOEPD by Q4 2024. The FMDP is forecast to produce 715,000 BOE net to Brookside in its first year of operation, with average production boosted to 2,300 BOEPD net to Brookside and revenue to US$70m (Net Income US$26.6m) in FY2025. The FMDP is expected to contribute to Brookside's production, revenue, and net income growth for years to come.