Update on Brookside Energy's operations

Brookside Energy Limited (ASX: $BRK) has successfully completed the rocket well completion operations on the Flames Pad, meeting budget and schedule expectations. The company has now commenced completion operations of the Sanford Pad wells (Iginla, Maroons, and Fleury) using a zipper frac technique to maximize efficiency. The operations are on track for production and first sales by late Q3/early Q4 2024, with the aim of growing Brookside's net production to 2,500 BOEPD (78% liquids) by Q4 2024.

Executive commentary on completion operations

The completion operations on the Rocket Well have been executed safely, meeting both budget and schedule expectations. Real-time monitoring confirmed the effective stimulation of the reservoir during the high-intensity fracture stimulation. The commencement of completion operations on the Sanford Pad wells using a zipper frac technique is aimed at maximizing efficiency and enhancing production performance. With flow-back and first sales scheduled for late 3Q/early 4Q2024, we are on track to achieve our production targets and contribute to the growth of Brookside's production, revenue, and net income for the coming years.

Summary of completion operations and outlook

Brookside Energy has successfully completed the rocket well operations and commenced completion operations on the Sanford Pad wells using innovative techniques to maximize efficiency. The company aims to achieve production and first sales by late Q3/early Q4 2024, with the goal of growing net production to 2,500 BOEPD (78% liquids) by Q4 2024. The FMDP is forecast to produce 715,000 BOE (78% liquids) 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 the long-term production and financial success of Brookside Energy, reflecting the company's ambitions for sustained growth and value creation.