Brookside Energy Limited · ASX:BRK
Brookside Energy — Investor Presentation (May 2023)
20 slides from Brookside Energy's investor presentation, May 16, 2023
Slide 1: Investor Presentation
Investor Presentation May 2023 brookside-energy.com.au ASX: BRK OTC Pink: RDFEF
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation 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 ri
Slide 3: Increasing production in a world-class basin
Brookside Energy Limited Increasing production in a world-class basin Operating in a tier one jurisdiction within a world-class basin, with extensive existing infrastructure and 1 abundant take-away capacity Low-cost (1QCY23 Production Expense of US$4.24/BOE), cash flow producing operations, with fo
Slide 4: Safe, Sustainable and Efficient Development
Brookside Energy Limited Safe, Sustainable and Efficient Development Prospect, Prove-up and Monetise Built on our Three Pillars People Land and Leasing Operated Drilling “Working with local communities to Acquisition of PDP Properties ensure sustainable Process growth and value Structure creat
Slide 5: Corporate Overview
Corporate Overview Capital Structure1 Market Capitalisation A$75.2m ASX: BRK (FPO’s). 5.0bn Cash A$17.7m2 Debt Nil Enterprise Value A$57.5m Land Holdings 4,300 acres 2P Reserves 11.9 million BOE3 Top Shareholders 4% Institutional HNW & Corporate Board and Management 29% Retail 63% 4% 1. As at 12 May
Slide 6: Our Team
Our Team Brookside Energy Corporate, Commercial & Governance Michael Fry Black Mesa Energy Chairman Extensive corporate, financial Veteran Oil & Gas Prospectors and capital markets experience Black Mesa is Brookside Energy’s US controlled subsidiary and manager of operations and is an experienced op
Slide 7: Oklahoma E&P Activity
Oklahoma E&P Activity World-class basins surrounded by oil and gas majors US$9bn • Proven productive basin in a world- US$10bn class location − Basin production ~970,000 barrels of oil equivalent per day US$14bn − Fraser Institute #2 ranked most attractive jurisdiction for oil and gas US$25bn (Priva
Slide 8: Summary of Operations
Summary of Operations Since end of 2021, Brookside has successfully drilled 4 wells at the SWISH AOI with an average IP30 of 1,468 BOE Area of Interest 1 SWISH 2 BRADBURY Category Unit Flames Jewell Rangers Wolf Pack Juanita Thelma Operating Status Current Status - Producing Producing Producing Pr
Slide 9: SWISH AOI – Anadarko Basin
1 SWISH AOI – Anadarko Basin Core position in the highly sought-after Sycamore Woodford Trend • SWISH Held by Production (HBP) program in the Anadarko Basin completed • Continental Resources have completed a multi-well pad development directly adjacent to the Flames and Jewell Wells on the SWISH AOI
Slide 10: SWISH AOI – Anadarko Basin Cumulative Production
1 SWISH AOI – Anadarko Basin Excellent productivity and sustained production, supporting full field development • Brookside wells sit well amongst the top performers in the area, with average 500,000 production rate over the first 30 days at approximately 1,468 BOE per day 450,000 • The 4 producing
Slide 11: Bradbury AOI – Ardmore Basin / Arbuckle Uplift
2 Bradbury AOI – Ardmore Basin / Arbuckle Uplift Prospecting and proving-up • Newly established area of interest (AOI) in Murray County, located 20 miles east-northeast of SWISH AOI − Three DSU controlled (~80% working interest in each 40-acre unit) • Opportunity to exploit by-passed or overlooked p
Slide 12: 2-Year Annotated Energy Prices
2-Year Annotated Energy Prices US$/bbl IEA member countries committed to US$/MMBtu release 62.7m barrels of emergency 140 oil stocks, followed by a further 120m 12 barrels from emergency reserves on 1 Apr 2022 OPEC+ cuts oil production by 120 2m barrels per day to prevent price volatility 10 Concern
Slide 13: 2022 Full Year Financial Results
2022 Full Year Financial Results Transformational year for Brookside • Gross production for FY22 of 613.5k BOE, increasing from 131.9k Unit y/y (%) FY221 FY21 BOE in FY22, representing +365% y/y growth • Strong revenue growth, increasing from A$12.6m in FY21 to A$53.0 BOE Gross production +365% 613.
Slide 14: Certified Reserves Report
Certified Reserves Report Strong Maiden Reserve Report with ~11.9 MMBOE (2P) Net Reserves at 31 December 2022 • ~11.9 million barrels of oil Oil (Barrels) NGL (Barrels) Gas (Mcf) BOE equivalent, classified as Proved and Probable Reserves (2P) Proved Producing 348,815 292,757 2,553,440 1,067,145 • Th
Slide 15: Project Economics and Key Sensitivities
Project Economics and Key Sensitivities NPV is most sensitive to commodity prices (~2% NPV for each 1% in pricing assumption) Summary of Key Project Economics Commodity price and Production Impact on NPV10 (A$m) Commodity price 2P Net Reserves (20%) (15%) (10%) (5%) Base case +5% +10% +15% +20% 1 (2
Slide 16: Key Valuation Sensitivities
Key Valuation Sensitivities NPV range of approximately A$230m – A$280m across several key valuation metrics Metrics NPV Range (A$M) Comments Oil price 193 316 • Based +/- 20.0% oil prices Gas price 230 279 • Based +/- 20.0% gas prices NGL price 233 276 • Based +/- 20.0% NGL prices Production 201 308
Slide 17: Brookside Energy Limited
Brookside Energy Limited Working closely alongside local landowners, communities and key regulators Operating in a tier one jurisdiction with extensive 1 existing infrastructure People Low-cost (Production Expense of US$4.24/BOE1), 2 liquids heavy (72%1), cash flow producing operations underpinned b
Slide 18: Brookside Energy Limited
Brookside Energy Limited Suite 9, 330 Churchill Avenue Subiaco WA 6008 p: +61 8 6489 1600 w: brookside-energy.com.au David Prentice Managing Director david@brookside-energy.com.au https://www.linkedin.com/in/david-prentice-a3324b22 Gracjan Lambert Executive General Manager Commercial gl@brookside-en
Slide 19: Completion Operations Underway
APPENDIX Completion Operations Underway Jewell Well, Carter County, Oklahoma August 2021 19
Slide 20: Glossary
Glossary APO WI After pay-out working interest AFIT After Federal Income Tax AOI Area of Interest BBL Barrel BFIT Before Federal Income Tax BOE Barrels of Oil Equivalent BOEPD Barrels of Oil Equivalent Per Day BOPD Barrels of Oil Per Day BPD Barrels Per Day COPAS Council of Petroleum Accountants Soc