Brookside Energy Limited · ASX:BRK
Brookside Energy — Noosa Mining Conference 2023
17 slides from Brookside Energy's conference presentation, Nov 17, 2023
Slide 1: Financially Disciplined, Oil Price Leverage
Financially Disciplined For personal use only Oil Price Leverage Noosa Mining Conference November 2023 brookside-energy.com.au ASX: BRK
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: Brookside Energy Limited
Brookside Energy Limited United States Onshore Focus: Anadarko Basin, Oklahoma Pure play on low geological risk 1 unconventional US oil (and gas) production Core acreage in sweet spot of Anadarko Basin: 2 ‘SCOOP’ & ‘STACK’ Plays For personal use only Low-cost producer, strongly leveraged to oil with
Slide 4: Why the Disconnect
Why the Disconnect Demand Growth Global Oil Inventories For personal use only Daily Global Gasoline & Diesel Demand Measured to 2019 Baseline Rystad Realtime Cube Sector Weighting Sector Multiples vs FCF Yield 73% 3
Slide 5: Closing the Valuation Gap
Closing the Valuation Gap 1 Brookside’s EV Brookside Valuation vs NPV of Reserves trades at an 89% A$m discount to the $300.0 independently $265 assessed NPV of our $250.0 For personal use only 2P Reserves $200.0 2 In production now 3 Multiple pathways to $150.0 EV @ 89% discount to NPV monetisation
Slide 6: Our Team
Our Team Multi Decade Oil & Gas E&P and Corporate Commercial Experience Michael Fry David Prentice Chris Girouard Chairman Managing Director President & COO Extensive corporate, financial and capital 20-years on-shore US corporate 35-plus years in the oil & gas industry, expert in all aspects of mar
Slide 7: Value Creation Philosophy
Value Creation Philosophy Minimise political risk: North America / Anadarko Basin focus #2 Fraser Institute ranking . Minimise geological risk: Exploit proven producing terrain, not high- risk wildcat drilling Yet to drill a dry hole . For personal use only Minimise economic risk: Focus on high NP
Slide 8: Anadarko Basin Oil Production History
Anadarko Basin Oil Production History Oklahoma’s Anadarko Basin BOPD 700,000 Oil price crashes 600,000 to <$40/bbl. for 1 Anadarko Basin is a long-term contributor to US oil production & 500,000 2020 hosted numerous notable oil fields including 6 >100MMBBLS oil fields SCOOP & STACK plays 400,000 dis
Slide 9: SCOOP & STACK Plays
SCOOP & STACK Plays 1 SOURCE ROCK POTENTIAL 1 Activity in the Anadarko has focused on two world class oil and gas plays, the STACK and SCOOP – Majors and Independents present Fair Fair-good Discovered in 2012 by Chesapeake, the two plays have underpinned a 2 resurgence in Oklahoma’s oil production F
Slide 10: Brookside's SWISH AOI
Brookside’s SWISH AOI Core position in the highly sought after Sycamore Woodford 1 Trend in southern SCOOP SWISH Held by Production (HBP) program in the Anadarko 2 Basin completed 4 wells (operated) of ~24+ well inventory drilled and 3 For personal use only producing Outstanding well productivity co
Slide 11: Production Trajectory
Production Trajectory Just getting started at SWISH: Produced an aggregate Net <0.8MMBOE as at Q3 CY23 vs April 2023 reserve certification of 2P Net 11.9MMBOE For personal use only 10
Slide 12: Low-Cost, High-Margin Production Stream
Low-Cost, High-Margin Production Stream 1 High liquids content, rich gas with no impurities and minimal produced water Proximity to refining and gas For personal use only 2 US$9.49 processing facilities Strong price realization for Oil, 3 NGL’s and Gas Low transport, marketing and lease 4 operating
Slide 13: 3Q2023 Results
3Q2023 Results September Quarter results demonstrated outstanding outcomes Revenue 1 A$12.9m Net production of 1,517 BOE per day, 67% liquids Net Production Four operated SWISH AOI wells delivered gross production of 2 1,517 BOE / Day (67% liquids) For personal use only 214,267 BOE and cumulative pr
Slide 14: Forward Plan
Forward Plan Maximising Shareholder Value 1 11.9MMBOE 2P Net Reserves in our SWISH AOI and a multi year production profile For personal use only 2 Focus is on generating best shareholder returns, not purely A$254m NPV volume growth Realisation 3 Maintain balanced capital allocation approach and look
Slide 15: Corporate Overview
Corporate Overview Shares on Issue Market Cap Cash 3-Year Share Price Performance 4.79bn A$57.5m A$28.1m1 Debt Enterprise Value Land holding A$0 A$29.4m ~5,015 acres3 2P Net Reserves2 EV / 2P BOE A$NPV / 2P BOE For personal use only 11.9MMBOE ~A$2.47 ~A$22.30 Ownership Analysis 1. As at 30 September
Slide 16: Why Brookside Energy?
Why Brookside Energy? 1 Prolific producing basin in jurisdiction with minimal political risk 2 Oil price leverage with unhedged, liquids focused, producing reserves For personal use only 3 Large inventory of low-risk development wells with compelling economics 4 Returns focus provides multiple avenu
Slide 17: Brookside Energy Limited
Brookside Energy Limited For personal use only Level 3, 88 William Street Perth, WA, 6000 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 Commerc