Brookside Energy Accelerates Production with Bruins Well, Boosts Cash Flow and Launches Share Buy-Back

Operational Momentum in the SWISH Play

Brookside Energy Limited has marked a significant operational milestone with the Bruins well, its ninth operated well in the SWISH Play of Oklahoma, commencing production in late May 2025. Drilled, completed, and tied into sales infrastructure within just 14 weeks, Bruins is tracking strongly with early production rates and is expected to generate net revenues of approximately US$2.8 million in its first year. This rapid development underscores Brookside's efficient, low-cost operational model and its ability to deliver resilient production in a challenging commodity price environment.

Complementing this, Brookside's non-operated interest in eight Gapstow wells, operated by Continental Resources, contributed a full quarter of production. With a combined net revenue interest of around 16%, these wells have performed in line with expectations, reinforcing confidence in the quality of the SWISH acreage and the broader development strategy that blends operated and non-operated assets.

Financial Strength and Capital Discipline

Financially, Brookside reported robust cash receipts of A$14.4 million for the quarter, translating into a net operating cash flow of A$6.5 million and a closing cash balance of A$8.3 million. The company invested A$12.1 million primarily into high-impact development activities, notably the Bruins well, with contributions from working interest partners partially offsetting this spend. This disciplined capital deployment reflects Brookside’s balanced approach amid moderating oil prices, focusing on near-term cash generation and operational efficiency.

In a move to enhance shareholder value, Brookside announced an on-market share buy-back program to repurchase up to 4.8 million shares, approximately 5% of its issued capital. The company clarified that the buy-back aims to efficiently deploy capital to increase the ownership stake of remaining shareholders rather than influence the share price.

Strategic Growth and Corporate Developments

Brookside continues to expand its drilling inventory, securing a fifth operated Drilling Spacing Unit contiguous with existing assets, increasing its SWISH operated inventory by about 26%. The company also completed an asset swap to enhance its position in the Sycamore formation rights within the SWISH Play, further consolidating its strategic footprint.

On the corporate front, Brookside is progressing its proposed listing on the NYSE American via an American Depositary Receipt (ADR) program. The PCAOB audit for fiscal years 2022–2024 is on track for completion by August, with the Form F-1 registration statement drafting underway and submission targeted for September 2025. This move aims to broaden Brookside’s investor base and increase market liquidity.

Additionally, the company held its Annual General Meeting during the quarter, passing all resolutions but receiving a “first strike” on its remuneration report. The Board has committed to a comprehensive review of executive remuneration policies and enhanced shareholder engagement to align incentives and governance.

Looking Ahead

Brookside’s operational execution, financial discipline, and strategic initiatives position it well to navigate the evolving energy market landscape. The company’s focus on cash flow generation, efficient development, and shareholder returns will be critical as it advances its NYSE listing and capital management programs.