brkax-santas-arrived-early-1107241730946335316.pdf

MST Access Research Report: Santa's Arrived Early - Excellent initial results from 2024 FMDP project. Valuation increased to A$3.05 (from A$2.85). 

Brookside Energy announces remarkable performance in FMDP project, leading to a significant increase in production and a robust strategic growth plan for the future.

Excellent initial results from 2024 FMDP project:<ul><li>Excellent results from the four-well FMDP project, on-stream September. Net production boosted 178% vs. 3Q24 average, to ~3000BOEPD, and higher than guidance of ~2500BOEPD.</li><li>Drives a step change in revenue and cashflow, upgrades to our estimates, funds and de-risks Brookside's next growth phase.</li><li>Valuation uplift to A$3.05 from A$2.85 reflects a robust financial position.</li><li>Brookside is profitable with nil debt and $14M cash on hand (at 30 September) setting a solid foundation for future expansion.</li><li>Strong governmental and logistic support in the USA, combined with experienced management, positions Brookside for sustained growth and profitability.</li></ul>

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MST Access Research Report: Santa's Arrived Early - Excellent initial results from 2024 FMDP project. Valuation increased to A$3.05 (from A$2.85).

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