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Why is Brookside Energy pleased with Commercial Oil Production from the Juanita Well? Brookside Energy Limited

Why is Brookside Energy pleased with Commercial Oil Production from the Juanita Well?

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Perth, Western Australia – July 15, 2022 - Brookside Energy Limited (ASX: BRK), an energy exploration company, is delighted to announce the successful commercial production from the Juanita Well in Oklahoma.

Commercial Production Achieved in the Juanita Well

After completing the comingling process of two separate sands in the highly productive Simpson Group, Brookside has established commercial production in the Juanita Well. The well, located within the expanded Bradbury Area of Interest (AOI) in the Arbuckle Uplift – Ardmore Basin, has shown promising results.

Initial Peak Rate and Average Production

The Juanita Well reported an impressive initial peak rate of 130 barrels of oil per day (BOPD). As the well continues to clean up, production has averaged 112 BOPD over the last five days. These figures indicate a promising start to commercial production from this well.

Optimizing Reservoir Performance

To ensure optimum reservoir performance and maximum recovery, Brookside is carefully managing fluid movement in the Juanita Well.

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The size of the pumping unit is being adjusted accordingly to achieve the desired outcomes.

Future Testing of Potential Oil Reservoirs

While the focus is currently on the two zones that have shown commercial productivity, Brookside plans to test the remaining potential oil reservoirs targeted by the Juanita Well in the near future. This strategic decision aims to further leverage the well's capabilities and explore its full potential.

Encouraging Early Results

David Prentice, the Managing Director of Brookside Energy, expressed his enthusiasm regarding the early results from the Juanita Well. He stated, "We are very encouraged by these early results from the Juanita Well. With commercial production now established from these two zones, we are looking forward to gathering more data that will guide us in terms of next steps for this exciting new area of interest. "

Future Updates and Outlook

Brookside Energy intends to provide further updates to its shareholders and investors on the progress of the Bradbury AOI. The company's successful production in the Juanita Well represents another significant achievement for the team.

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