Valuation - 5.7 cents
1) Step-up in production & cashflow imminent
2) The first of four wells in BRK's flagship 2024 FMDP project, the "Rocket" well was successful, de-risking the development and paving the way for growth in the coming quarter
3) Conclusion of the FMDP activity in ~3 months, is guided to drive production to ~2500BOEPD by 4Q CY24, a ~230% increase over 2Q CY24 with commensurate lift in revenue and cash-flow
4) BRK is cash-flow positive, with nil debt and $22M cash