# BRK - Brookside Energy



## yogi-in-oz (10 April 2006)

Hi folks,

RFE ..... should deliver BIG-time, in December 2006 ... !~!

Meanwhile some key dates for RFE, may be:

     11042006 ..... negative (finances?)

20-21042006 ..... significant and positive news??? ... 

     24042006 ..... minor

     26042006 ..... minor

     08052006 ..... BIG day for RFE, with 3 time cycles
                         coming together ... positive financial news???

26-29052006 ..... negative spotlight on RFE ..... a high???

02-06062006 ..... 2 x minor cycles.

     13062006 ..... significant and positive news/moves ???

     27062006 ..... minor

     29062006 ..... significant and negative (finances???)

happy trading

   yogi


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## shumanfu (10 April 2006)

*Re: RFE - Red Fork*

Just out of curiosity, (because i'm new to all this).. 
how do you base these estimates?


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## yogi-in-oz (20 April 2006)

*Re: RFE - Red Fork Energy*



Hi folks,

RFE ..... 20-21042006 ..... significant and positive news???

News comes in 1 day earlier than expected:

"19th Acquisition of 100% Interest Oklahoma Coal Bed Methane Project"

Next significant news moves from RFE, expected around:

08052006 ..... BIG day for RFE, with 3 time cycles
coming together ... positive financial news???

26-29052006 ..... negative spotlight on RFE ..... a high???

For other key dates, see post above.

happy trading

yogi


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## yogi-in-oz (4 October 2006)

*Re: RFE - Red Fork Energy*



Hi folks,

RFE ..... good report out today and looking forward 
to a further lift in price from mid-November, until 
just before Christmas time.

Looking ahead:

       06102006 ..... minor news ???

  27-30102006 ..... 2 minor cycles ..... financials???

      01112006 ..... minor

      22112006 ..... significant and positive - finances???

      28112006 ..... positive spotlight on RFE ..... 

  12-21122006 ..... 3 positive cycles ..... strong rally here ???

       27122006 ..... minor

       02012007 ..... minor news???

       08012007 ..... minor and positive ... finances???

   18-19012007 ..... minor and positive news???

        24012007 ..... minor

         01022007 ..... significant and negative

happy days

  yogi

P.S. ..... holding RFE




=====


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## stiger (7 October 2006)

*Re: RFE - Red Fork Energy*

Yogi I also hold I was wondering if you ever did any work on ADI I can't seem to get a handle on it.Regards .


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## yogi-in-oz (28 October 2006)

*Re: RFE - Red Fork Energy*



Hi folks,

RFE ..... on the move already ... for more detailed
astroanalysis, see post above ..... 

have a great weekend

  yogi

P.S.  ..... unfortunately Stiger, will not be able to do
              any more freebies, until December, due to
              exams, moving house, etc ... sorry, about that !!

=====


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## jballs (1 November 2006)

*Re: RFE - Red Fork Energy*

Yogi, you are very modest.  Thought you would have been pointing out that your predictions for this stock seem to be coming to fruition.
 RFE reached an alltime high today and big buyer orders suggest it still has a way to go?


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## yogi-in-oz (18 November 2006)

*Re: RFE - Red Fork Energy*



			
				jballs said:
			
		

> Yogi, you are very modest.  Thought you would have been pointing out that your predictions for this stock seem to be coming to fruition.
> RFE reached an alltime high today and big buyer orders suggest it still has a way to go?






Hi folks,

Time cycles speak for themselves, jballs ... 

It matters not what mortal man thinks or says, we have 
NO CONTROL over the forces, that guide us through life,
including our trading lives.

-----

RFE ..... just a reminder, as per post above on 04102006,
we are entering a very positive period for this stock, over
the coming weeks.

Refer to that same post for other key RFE dates,
expected in the months ahead.

happy trading

  yogi

P.S. ..... holding RFE



=====


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## yogi-in-oz (21 November 2006)

*Re: RFE - Red Fork Energy*



Hi folks,

RFE ..... ticking up nicely, as indicated in posts above.

No news as yet, but traders are obviously anticipating
something good ..... 

happy days

  yogi

P.S. ..... holding RFE.

 

=====


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## dubiousinfo (22 November 2006)

*Re: RFE - Red Fork Energy*

This has 20c oppies with a 2009 expiry trading at a 4c/5c discount to the shares.

Have been watching this company for a while and the discount was too much to pass on, so have grabbed some.


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## yogi-in-oz (15 December 2006)

*Re: RFE - Red Fork Energy*



			
				yogi-in-oz said:
			
		

> Hi folks,
> 
> RFE ..... good report out today and looking forward
> to a further lift in price from mid-November, until
> ...






Hi folks,

RFE ..... now ticking up nicely ... and right on time, too !~! 

..... see post above for key RFE dates ahead .....  

happy days

  yogi

P.S. ..... holding RFE



=====


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## stiger (17 December 2006)

*Re: RFE - Red Fork Energy*



			
				yogi-in-oz said:
			
		

> Hi folks,
> 
> RFE ..... on the move already ... for more detailed
> astroanalysis, see post above .....
> ...



Thanks anyway yogi adi seem to be ok. Rfi is def heading in the right direction.cheers


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## roland (17 October 2007)

*Re: RFE - Red Fork Energy*

Has anyone looked at these guys for a while??? Seems their asset value is increasing nicely. Ended up getting a few (at the wrong price). Now not too unhappy after going through their future prospects.


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## wondra (17 October 2007)

*Re: RFE - Red Fork Energy*

Ive been holding since low/mids 40s in Mar/Apr. Great ann yesterday but like the rest of their ann in the past 6 months it retraces. I got greedy yesterday, had a sell at 79.5 & pulled it thinking it was going higher on vol. Sold this morning because there was little vol to drive the SP. 2 days ago there was an ann re fpos being released from escrow (could be the reason why it didnt continue on yesterday & today). 

Management are really adding value & probably need a good PR person to drive the SP. Short term I believe it will probably retrace (based on past performance) If it does Ill jump back in. I think this is a coy that in a the next year or so who will make their mark.

Im neither ramping nor deramping just making comments based on the SP action over the past 6 months

cheers
wondra


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## roland (29 November 2007)

*Re: RFE - Red Fork Energy*

I'm out of this now, at a loss 

I am sure that the $10 mil they raised will help, but devalued my holdings. Also I wasn't happy with how much they were spending on International travel when I was going through their financials.


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## powerkoala (4 March 2008)

*Re: RFE - Red Fork Energy*

it's been a while no one talk about this company.
recent news just out.
almost breaking double tops.
looking good on the chart as well.
good luck all.


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## lucifuge (4 March 2008)

*Re: RFE - Red Fork Energy*



powerkoala said:


> it's been a while no one talk about this company.
> recent news just out.
> almost breaking double tops.
> looking good on the chart as well.
> good luck all.




Damn, you beat me to it Powerkoala LOL.  Agreed.  I just bought some today based on on the company in general, the recent positive news and the chart; it seems primed to jump. The ascending triangle coupled with the price above the 30 day EMA and golden cross has just appeared. Also note the money flow, extremely strongly positive.


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## ChomChom (31 May 2008)

*Re: RFE - Red Fork Energy*

Not sure what to think about RFE... I've read the Hartley's report on their website http://www.redforkenergy.com.au/page.aspx?pageId=923569b2-10e3-4d55-86f4-8cbfffa908bc

Everything is looking very good to me, and what a potential! So many good (I hope) announcements to come in the next week/month...

They had some good announcements (drilling results) in the past month, but SP/volum is not really taking off (some big orders at the end of the session on Friday)...

Their problem is they are not good at all at communicating about the company... but I think they are starting to get a better coverage, with an article about the company in the Australian Financial Review last week...
I've been building up last week with SP floating around 0.58-0.60, don't know, with oil going up and gas being very popular nowadays, I think RFE is really going to skyrocket soon 

Your thoughts?


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## ChomChom (4 June 2008)

*Re: RFE - Red Fork Energy*

Announcement today... no drilling result, just a summary of the current activities...
No news of the third well at West Tulsa which is supposed to be spudded this week.

Production results for Osage and West Tulsa still expected at the latest this month, at earliest in the next 2 weeks I presume (sample and log analysis showing good potential).

From Hartley's research: "Red Fork is set to embark upon drilling at its most significant acreage holding, located in East Oklahoma (“EOK”). Analogues to the acreage owned by Red Fork indicate that the level of risk related to EOK is
substantially less than that typically associated with oil and gas projects. EOK has transformational impact potential for the Company. Our unrisked valuation of EOK is >150cps. Currently only 38cps of this is built into our valuation of 149cps." 

Confirmation that drilling is set to commence at East Oklahoma this month. I'm really looking forward to seeing the first results of these drillings and the "transformational impact" 

In the meantime, SP doesn't seem to be going anywhere... very low trading volumes... I could grab some more at 0.58 :


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## ChomChom (11 June 2008)

*Re: RFE - Red Fork Energy*

Looks like I'm the only believer on this one 

The least we can say is that there's strong support at 0.58, it's been holding at this level for the past 2 months... as I've been moving half my portfolio to RFE, it's kind of a defensive position in these bad/volatile times... it could be worse...
Another announcement yesterday, "increase of their East Oklahoma holdings by 70%"... not a big announcement, but promising for the future.

Looks like everybody is waiting for the production results due this months... then drilling will start at East Oklahoma, and that's when it will start to get hot


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## cooper208 (12 August 2008)

*Re: RFE - Red Fork Energy*

ChomChom - are you still out there? A very good announcement recently on this one. They continue to drill and hit gas. Interesting potential.


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## pan (16 February 2009)

*Re: RFE - Red Fork Energy*

Hartley's have brought out a buy recommendation-

http://www.redforkenergy.com.au/documents/20090206 Hartleys Research Note.pdf

interesting points-

pros-

csg producer

-mc- 16 mil

-assets 17.3 mil

-top 20 s/h- 70%

-options due to be exercised at the end of April = 3 mil cash

cons-

small volume


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## edogg75 (12 March 2009)

*Re: RFE - Red Fork Energy*

Link to a broker report (Chess Capital) released after yesterdays announcement of a 300% resource upgrade:


http://www.redforkenergy.com.au/documents/RFE 20090311 Chess Capital Partners.pdf


12 month target of $2.30-$2.50 per share.

Closed at $0.30 today.

I hold.


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## eddyeagle (17 March 2009)

*Re: RFE - Red Fork Energy*

RFE has been mentioned in a few reports I have read recently. 

It was recommended as a BUY by Cleo Nanni of NOVUS CAPITAL in yesterday's Compareshares email. 

There are also a couple of broker reports with decent valuations (Hartleys, Chess Capital). 

The share price has jumped from 19 cents to 33 cents this month. 

Anyone got any thoughts on this stock?


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## Dangerous (17 March 2009)

*Re: RFE - Red Fork Energy*

I only looked over this one briefly but saw that they were excited about 100GJ/day wells.... WTF!

AOE said in a recent investor briefing they were doing 750/day in production testing and were happy with that.

ORG and STO have wells doing over a TJ per day

the economics may well be different in the US though.  E.g. wells closer to end users reduces development costs dramatically.

haven't read broker report above yet


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## eddyeagle (23 March 2009)

*Re: RFE - Red Fork Energy*

Anyone taking notice of RFE yet? It jumped 17% today! Share price is flying this month! Anyone know what's behind the sharp increase?


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## big sal (8 April 2009)

*Re: RFE - Red Fork Energy*

Despite its big jump since end of February from 20 to around 50c, RFE still travelling under the radar with the huge potential it has. Still down from its 12 month high of 63.5c.

Main features are: flow test results at its east Oklahoma field conclude a 300% increase in production potential, 300,000 cubic feet of gas per day per well achievable, debt free, the current acreage held by RFE could support over 600 wells!!

Chess Capital Partners buy suggestion in March 2009 with a 12 month target of $2.30 - $2.50 got me interested.


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## StockPiles (6 May 2009)

*Re: RFE - Red Fork Energy*

This stock has a Market Cap of around $42 Million ? WTF ? This stock has such a small Market Cap relative to other oil producing companies -- look at CVN's Market Cap of over $300 Million - their price is only around the .50cent mark..

$42 Million - $300 Million

Also, Redfork Energy's reserves are in the U.S (nice and safe and much better taxed than Thailand).


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## JTLP (6 May 2009)

*Re: RFE - Red Fork Energy*



StockPiles said:


> This stock has a Market Cap of around $42 Million ? WTF ? $2.00 - $2.50 is well and truly on the cards considering this stock has such a small Market Cap relative to other oil producing companies -- look at CVN's Market Cap of over $300 Million - their price is only around the .50cent mark..
> 
> $42 Million - $300 Million ---- That's IT !!! I'm buying this stock BIG TIME !!
> 
> ...




Stockpiles...I don't know why you are comparing Market Caps of the 2? You haven't even given any production figures, cash figures, anything really. You've just said that one is x the other is y, and x is taxed here and y is taxed there.

You gotta do better than that...


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## StockPiles (7 May 2009)

*Re: RFE - Red Fork Energy*



JTLP said:


> Stockpiles...I don't know why you are comparing Market Caps of the 2? You haven't even given any production figures, cash figures, anything really. You've just said that one is x the other is y, and x is taxed here and y is taxed there.
> 
> You gotta do better than that...





Hi guys sorry for the ramp up I wont do it again. All i was doing was presenting a good case for this stock and am excited by it. I'm not alone in my thoughts, my case is further backed up by the broker reporting a 12 month target of $2.30 - $2.50 as per one of the recent posts above.

Upside POTENTIAL is further demostrated by Redfork owning 100% of their reserves as apposed to CVN's 40% and a statement quoted from Redfork where they have committed to fund ongoing drilling etc from sales of their existing oil (no need for farm-ins etc etc).


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## DowJones (14 May 2009)

*Re: RFE - Red Fork Energy*



StockPiles said:


> Hi guys sorry for the ramp up I wont do it again. All i was doing was presenting a good case for this stock and am excited by it. I'm not alone in my thoughts, my case is further backed up by the broker reporting a 12 month target of $2.30 - $2.50 as per one of the recent posts above.
> 
> Upside POTENTIAL is further demostrated by Redfork owning 100% of their reserves as apposed to CVN's 40% and a statement quoted from Redfork where they have committed to fund ongoing drilling etc from sales of their existing oil (no need for farm-ins etc etc).




I've been slowly increasing my stake in Redfork, averaging in. It hit my radar when there were a couple of Brokers (www.thebull.com.au) recommended it at the same time. That was when it was trading in the 20 cents region. 

Despite today's carnage its held up relatively ok for a small cap stock.

They are debt free with cash reserves (6+M) and not much liabilities.

Redforks forecast looks promising: (from commsec)

*Earnings and Dividends Forecast (cents per share)*
2008	2009	2010	2011
EPS	-4.6	-0.4	17.7	38.7

With that kind of EPS in 2010/2011, IMO looks cheap right now.

Like to hear from fellow shareholders on this stock.


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## StockPiles (27 May 2009)

*Re: RFE - Red Fork Energy -*

This Stock continues to track steadily upwards 

Now almost 70Cents after today's positivity on the market, RFE has resisted downward pressure, holding steady until an upswing in the market takes it higher, it appears to be trading in an overall healthy manner.


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## DowJones (1 June 2009)

*Re: RFE - Red Fork Energy*

Redfork is on a tear....

Currently the price is 79c - up 11%

60 buyers for 1,589,142 units  
6 sellers for 75,490 units


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## StockPiles (2 June 2009)

*Re: RFE - Red Fork Energy*



DowJones said:


> Redfork is on a tear....
> 
> Currently the price is 79c - up 11%
> 
> ...




YUP, now it has broken the 80cent barrier !! *yawn* so predictable - lol -  I tell you with its relatively low Market Cap and so much going for it, within a short space of time (look at the EPS jump to 17cents in the next year) Stock examples like this one make it NOT rocket science to pick a winning stock


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## JTLP (2 June 2009)

*Re: RFE - Red Fork Energy*



StockPiles said:


> YUP, now it has broken the 80cent barrier !! *yawn* so predictable - lol -  I tell you with its relatively low Market Cap and so much going for it, within a short space of time (look at the EPS jump to 17cents in the next year) Stock examples like this one make it NOT rocket science to pick a winning stock




Can you please explain what it has going for it Stockpiles? EPS can also change so don't base decisions wholly on this.

Not rocket science to pick a winning stock? Be careful with this statement.


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## StockPiles (3 June 2009)

*Re: RFE - Red Fork Energy*



JTLP said:


> Can you please explain what it has going for it Stockpiles? EPS can also change so don't base decisions wholly on this.
> 
> Not rocket science to pick a winning stock? Be careful with this statement.





If you read earlier posts on this page, everything it has going for it is explained. Please note also, the explanations of what this stock has going for it were made when the stock was 48 cents - the stock is now hovering around the 80 cent mark having topped 84 cents yesterday 

As for the Not Rocket Science statement -- well thanks for the caution but I can say, if someone is to believe transparently the information provided by any given public company, it is not rocket science to pick the bargains which will eventually rise .. there is always risk however and these risks are noted in cautionary statements released by every company, so my statement should not be interperated to over ride any such statement and the risks remain current. There is also the risk Company Directors/ Executives are commiting some kind of fraud of which we are not yet aware. That should also be factored in...


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## DowJones (6 June 2009)

*Re: RFE - Red Fork Energy*

Redfork continues its stellar run, with price now at 84.5c.

I wonder if there is good news coming out from the company? It seems to be picking gains slowly but surely.

The volumes I've noticed is also starting to pick up. In addition, it seems like in the morning there are the sellers who drive the price down but then later on in the day, buyers swoop in to support the stock - good sign.


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## DowJones (12 June 2009)

*Re: RFE - Red Fork Energy*

Redfork just got lit up - 16% right now

Sold off yesterday - contemplated selling but lucky I didnt.

Both bokers Hartley and Chess Capital were keen on this stock when it was trading at 20c.... brokers get it right once a while


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## zebop (26 June 2009)

*Re: RFE - Red Fork Energy*

The market slid quite dramtically over the past week however RFE maintained a reasonable position around .90c, at one stage today it's back at $1.05

I suppose it's worth keeping an eye on vols as those in the know will present themselves getting in on the act?


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## camac (9 July 2009)

*Re: RFE - Red Fork Energy*

Looks like someone is slowly (very slowly) trying to accumulate some stock in RFE.  Today i noticed Buy orders executed at market price every 5 to 10 minutes for around 90 to 100 shares at a time.  This went on most of the day today.  Would be interesting to see who the buyer is.

Here is a snapshot of some of todays trades for RFE:


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## growing (10 July 2009)

*Re: RFE - Red Fork Energy*



camac said:


> Looks like someone is slowly (very slowly) trying to accumulate some stock in RFE.  Today i noticed Buy orders executed at market price every 5 to 10 minutes for around 90 to 100 shares at a time.  This went on most of the day today.  Would be interesting to see who the buyer is.
> 
> Here is a snapshot of some of todays trades for RFE:




Thanks for that post, interesting also, there is a JULY 2009 broker report on RFE's Site from "CHESS CAPITAL PARTNERS" stating the following:

BUY – 12 month target: A$3.20 ‐ $3.50 per share

And with their recent anouncement increasing their yearly income from $3mil to $4mil and an expansion program encompassing 20 wells - all funded from their existing revenue on 100% owned land - I think I might Hold


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## growing (15 July 2009)

*Re: RFE - Red Fork Energy*

Price of oil goes down, this share goes down but still more to buy than to sell ..

As soon as someone wants any kind of bulk lot of this stock, the price goes up ... I like the way this stock trades, full of smart people who are in no hurry to sell 

Not a lot to sell until the $1.32 mark ...




49 buyers for 682,176 units  33 sellers for 384,818 units


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## growing (20 July 2009)

*Re: RFE - Red Fork Energy*

I noticed today, the EPS for this stock used to say 17 cps for 2009 in my commsec research section -- now it simply says Nothing -- it's gone???

Why would it be simply removed?

There was an earlier post on this thread from JTLP who said EPS can change .. but can they just remove all trace of it?


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## growing (20 July 2009)

*Re: RFE - Red Fork Energy*



growing said:


> I noticed today, the EPS for this stock used to say 17 cps for 2009 in my commsec research section -- now it simply says Nothing -- it's gone???
> 
> Why would it be simply removed?
> 
> There was an earlier post on this thread from JTLP who said EPS can change .. but can they just remove all trace of it?




Correction -- 17cps in 2010 -- I couldn't figure out how to edit my post above (sorry I am new) 
......................................................................................................
......................................................................................................


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## growing (29 July 2009)

*Re: RFE - Red Fork Energy*

Redfork is having another good run after today up 7.3% ...

$1.39 with not many sellers at all. Nothing for sale after $1.80 on my Commsec screen 

Reading earlier posts on this thread, there were discussions about the stock at around the 48 cent mark 

Not a bad return for those who bought at that price


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## growing (4 August 2009)

*Re: RFE - Red Fork Energy*

Wow, I seem to be the only person commenting on this stock ??

Hit $1.50 today! Price of oil has climbed this week on hopes of global recovery but also on the back of China's inventory reported to be relatively low ..

Happy days for Red Fork


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## growing (18 August 2009)

*TRADING HALT*

Redfork in a TRADING HALT pending an announcement on a "Material Acquisition"

What could they be acquiring at this early time in development ???


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## ands (19 August 2009)

*Re: RFE - Red Fork Energy*

The price of Oil and Gas has fallen in the last week or so and has been having an effect on the RFE share price. Will be interesting to see what this acquisition is... more acreage?


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## growing (20 August 2009)

*Re: RFE - Red Fork Energy*



ands said:


> The price of Oil and Gas has fallen in the last week or so and has been having an effect on the RFE share price. Will be interesting to see what this acquisition is... more acreage?




Hmmm yes, well that would be a good acquisition for them me thinks   .. They have asked for a 7 day extension today ... oooo the suspense


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## growing (20 August 2009)

*Re: RFE - Red Fork Energy*

AOK is on a trading halt for the same reason as RFE ?? "Material Acquisition" - AOK is another Aussie company in the U.S going for Oil in previously known U.S oil zones ...

Coincidence ??


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## ands (20 August 2009)

*Re: RFE - Red Fork Energy*



growing said:


> AOK is on a trading halt for the same reason as RFE ?? "Material Acquisition" - AOK is another Aussie company in the U.S going for Oil in previously known U.S oil zones ...
> 
> Coincidence ??




It also mentions a funding arrangement... If there is any connection between the trading halts, it sounds like RFE will inject funds into a Joint Venture with AOK. Hopefully find out in the next week!


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## Zird (26 August 2009)

*Re: RFE - Red Fork Energy*

Commsec state that the top 20 s/holders own 69% of shares. Somebody might know what effect this has? Hoping for great news.


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## growing (27 August 2009)

*Re: RFE - Red Fork Energy*



UBE said:


> Commsec state that the top 20 s/holders own 69% of shares. Somebody might know what effect this has? Hoping for great news.





Hmmmm well the news is in!!! 20Million fresh RFE shares raises capital at $1.20 per share (a dilution to existing shareholders) however the new capital allows them to double their acerage (albeit through Joint Venture arrangements) and speed up cash flow development by drilling new wells which will be completed by the end of the year !!!! Very fast, which should hopefully boost the share price quite quickly 

The news was taken well with the share price rising to $1.46 but dropping back again to $1.35 at close of trade 

Market Cap now at 148 Million $$ which I think will look too cheap in the short term provided their drilling results meet market expectations


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## prawn_86 (27 August 2009)

*Re: RFE - Red Fork Energy*



growing said:


> Market Cap now at 148 Million $$ which I think will look too cheap in the short term provided their drilling results meet market expectations




$150 mill. Do they have any cashflow at the moment? Or is it based purely on speculation? What's their cash position?


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## ands (27 August 2009)

*Re: RFE - Red Fork Energy*

This broker report will give you a low down. The first time I saw this stock a broker was recommending it at about 21c, I only bought at $1.25...

http://www.redforkenergy.com.au/documents/RFE 20090707_WestTulsa.pdf


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## prawn_86 (27 August 2009)

*Re: RFE - Red Fork Energy*



ands said:


> This broker report will give you a low down. The first time I saw this stock a broker was recommending it at about 21c, I only bought at $1.25...
> 
> http://www.redforkenergy.com.au/documents/RFE 20090707_WestTulsa.pdf




Thanks.

To be honest it actually seems very pricey to me, just on some quick calculations.

Currently producing 85bopd.
Profit of say $70 on those barrels equates to $6k per day which equals 2.2m per year profit.

2.2mill divided by 117m shares on issue gives EPS of .018c. So PE at the moment is a whopping 72!

There would want to be some huge upside in their drilling campaign, and i mean absolutely huge. I have not looked at the targets or anything like that, but my quick calcs show me i would rather employ my spec cash elsewhere.

I dont see how Chess Capital came up with that valuation...


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## ands (27 August 2009)

*Re: RFE - Red Fork Energy*

The thing about Red Fork is that it does have huge potential. That revenue is from 2 wells, they have identified a further 20 well locations. This is over 50,000 acres in East Oklahoma, USA, which they currently hold a 100% interest. They just doubled their holding in East Oklahoma today with another 60,000 acres under a JV (RFE carries a 25% interest). They are debt free and development will be funded with current cash reserves.


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## prawn_86 (27 August 2009)

*Re: RFE - Red Fork Energy*



ands said:


> The thing about Red Fork is that it does have huge potential. That revenue is from 2 wells, they have identified a further 20 well locations. This is over 50,000 acres in East Oklahoma, USA, which they currently hold a 100% interest. They just doubled their holding in East Oklahoma today with another 60,000 acres under a JV (RFE carries a 25% interest). They are debt free and development will be funded with current cash reserves.




Even if all 20 wells are successfull and flow at the same rate (40bopd) as the current ones, EPS will be 19c which equates to a PE of 6.8, which is about right for small cap oilers.

Im not saying that money cant be made from this, who knows what the trend will do, but from a fundy perspective it appears the market is already pricing in success at every well.

IMO there are much better small cap oil and gas plays that have good cashflow.


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## Candolini (30 August 2009)

*Re: RFE - Red Fork Energy*

Prawn, you appear to have excluded from your calculations their biggest project in East Oklahoma where they plan to drill up to 600 wells (gas) over the next 5-10 years (10 to be completed by the end of this year) and they have direct access to the sales line.  This was before their announcement last week about the JV on the further 60,000 acres where they plan to have 10 wells drilled by the end of this year.

The future potential of RFE is in the billions not millions.


----------



## YOUNG_TRADER (30 August 2009)

*Re: RFE - Red Fork Energy*

20c to $1.50+ wow what a run  

and here I was thinking all the US companies were duds

RFE look like a CBM/CSG play as well as its traditional gas/oil prospects


----------



## growing (1 September 2009)

*Re: RFE - Red Fork Energy*

Yes indeed Candolini!

Considering also they are in what is considered a safe government environment, there isn't a lot to worry about aside from the usual risks of a company of this type (disclaimer - lol)

Red Fork released another announcement today regarding expected drilling but as you have rightly said it is a long term company, it's just a matter of being patient and waiting for the company results to bear fruit.


----------



## growing (3 September 2009)

*Re: RFE - Red Fork Energy*

More GREAT news from Redfork today. Independent certification of reserves will give a solid intrinsic value base to this company including but not limited to its share price


----------



## growing (15 September 2009)

*Re: RFE - Red Fork Energy*

Redfork got the CRAP kicked out of it today from $1.17 down to below $1 with a slight recovery back to $1.00 !!

Amazing and for no aparent reason ?

Anyone know ?


----------



## Zird (15 September 2009)

*Re: RFE - Red Fork Energy*

My other gas/energy  stocks also had a poor  day.  Could not find anything on RFE web site but it was a big drop. Must be some reason.


----------



## Tukker (15 September 2009)

*Re: RFE - Red Fork Energy*

Might be something to do with its competition, I see Sino Gas launched on the exchange yesterday at a discount to its Chinese listing.

Also WHL bounced big with new reports of a bigger than expected find.



> The energy company, which is engaged in the development of properties in the United States for oil and natural gas production, said the operation had 110 billion cubic feet of recoverable natural gas.




Lots of supply available at the moment, keeping the market prices moderated.   

But more probable is the fact that the share price has risen 700% since March and people are banking profits. 

If there is no significant news, then this could be a good technical buy signal for a reversal trade in a few days time. Ill run a few tests when my data comes in.


----------



## shoe crew (15 September 2009)

*Re: RFE - Red Fork Energy*

I have not done any numbers on Tulsa yet but heres something for you on East Okalahoma...

Target 200 BCF
each well recoverable .3 BCF
Target to have 10 wells in production by years end
Natural gas price $3.50 per mcf
flow rates per day 300,000 cubic feet, (this is equivalent to 300 mcf)
NRI 81.25%
vertical well costs $150,000 US
production life 20 years
decline rate 8%

To answer the question of what one of these wells is worth over its life time, we can write down the future revenue streams and discount them back to a present value... equivalently we can use the growing Annuity formula to get the same answer... as flow rates are expected to decline by 8% per year, in the formula we put a negative number...

we will first work out the cashflows and then put the answer into the annuity formula, so

300,000 cf is 300mcf
and at $5 per mcf
is $1500 US per day...
note that current market price for mcf is $3.50
I am expecting the longer term price to remain much higher...

...
from that we minus production costs of $1.80 per mcf...
(low cost producer)....

300 *$1.80US= $540 US
$1500-$540=$960 per day, 
our Net revenue interest or NRI is 81.25%
960*.8125= $780 US

so $780 per well, per day assuming production of 330 days per year is
$257,400 US per year...

convert to AUS dollars at .8
257,400/.8=$321,750

Now for the growing annuity formula as we want to find the cashflows for this project for its life time, (20 year production)...

Present value of a growing Annuity formula is

PV= C (1/r-g) -(1/r-g)*(1+g/1+r)^t

where PV is the present value
C is the revenue stream per year ($321,750)
r is the interest rate/discount rate (15%)
g is the growth rate (-8%)... production rate declines 8% per year as per company releases
t is time (20 years)

so plug the numbers into the equation

PV= $321,750((1/.15--.08)-(1/.15--.08)*((1-.08)/(1+.15))^20)

If you punch these numbers into a calculator you will get 
$321,750 * 4.2978 = $1.383 Million dollars AUS per well over its life time...
so each well costs $150,000 US, and over its life time, of 20 years production the well will earn a total of $1.383 million AUS using a discount rate of 15%...
This discount rate is set fair which corresponds to the level of risk, and the fact that investors need to be compensated a higher rate of return for holding a (risky) development stock...percieved to be risky...


4.2978 is the annuity factor which is multiplied by the period payment of $321,740 per year...
to work through the annuity equation you need to solve the brackets first and there is a double negative in the formula because growth rate is negative with declining production...

So,
IMO getting a million and abit per well, drawn out over 20 years is not exciting when front end payments are involved with drilling costs...
(even though they and production costs are lower than normal standard)....

East Okalahoma is no good, what about Tulsa?
EOK project only works on very large scale..
with 10 well program taking 5 months, and another program planing for next year then this could be a small little earner for the company...
with lofty expenditure requirements in running an oil business, and associated costs (like tax which I never mentioned)...and 700k quarterly admin, then this is not going to be a positive cashflow company, to support a one hundred million dollar market cap....
and grow that cash backing, which is whats required to get a higher market value...
I dont think ive made any mistakes, correct me if im wrong...


----------



## Zird (16 September 2009)

*Re: RFE - Red Fork Energy*

Shoe Crew, many thanks for the indepth analysis and review of RFE.
Think I will park my money elsewhere. My gut feeling was to sell a little while ago but also keep a watch on it.  

With so much gas being plumbed around the world, even though demand is growing rapidly  I wonder what the price of the gas will be in a few years when all the world's wells get into production?  Maybe the projected price for gas is optomistic with the euphoria of this 'developing' industry.  I have no facts or figures just wondering.


----------



## growing (16 September 2009)

*Re: RFE - Red Fork Energy*

Nice looking analysis however I don't think the massive sell off was due to investors suddenly doing some maths and deciding to pull out 

the stock recovered a bit today closing at $1.055 doesnt seem to like dropping below $1 .. it was possibly just 1 investor or small group with a lot of shares selling a block for reasons only known to them


----------



## growing (18 September 2009)

*Re: RFE - Red Fork Energy*

So now this stock has regained its losses -- must have been a 1 off seller offloading their holding for some reason


----------



## Shrewd Crude (21 September 2009)

*Re: RFE - Red Fork Energy*



> Hey Zird,
> Shoe Crew, many thanks for the indepth analysis and review of RFE.
> Think I will park my money elsewhere. My gut feeling was to sell a little while ago but also keep a watch on it.
> 
> With so much gas being plumbed around the world, even though demand is growing rapidly I wonder what the price of the gas will be in a few years when all the world's wells get into production? Maybe the projected price for gas is optomistic with the euphoria of this 'developing' industry. I have no facts or figures just wondering.




It is me...
I am back and have been reinstated...
The long term outlook for US nat gas prices is much higher...
Current prices make many projects marginal even  RFE's EOK gas development...
we are at those levels where supply is being cut back, and operators choose to delay... this in time will lead to the next upward movement of price as the market takes it cycles, and gas prices remain long term bullish...
The outlook for oil is extremely bullish...
I highly recommend reading 'twilight in the desert'

.^sc


----------



## growing (21 September 2009)

*Re: RFE - Red Fork Energy*



Shrewd Crude said:


> It is me...
> I am back and have been reinstated...
> The long term outlook for US nat gas prices is much higher...
> Current prices make many projects marginal even  RFE's EOK gas development...
> ...




Had a look at that book, looks like a good read thanks Shrewd Crude 

Even with alternative energy vehicles hitting western markets, OIL demand in developing countries will be extreme ..


----------



## growing (29 September 2009)

*Re: RFE - Red Fork Energy*

Interestingly, Redfork has recovered very quickly - it must have been a 1 off seller  pushing the stock down in recent weeks.

$1.205 with a high of $1.23 happy days


----------



## Zird (29 September 2009)

*Re: RFE - Red Fork Energy*

Sorry Guys but I sold up my small RFE parcel and climbed on BAU and SFR. My concern is about the  amount of gas projects coming on line all around  the world and untill cars and industry start converting to use all this gas I question where the price is going to end up. This is just a gut feeling with no facts or figures to quote. So with a total lack of the latter it is all I can go on. I wonder how much credibility do the hard nut chartists give to Gut feelings? SFA I suppose.


----------



## growing (12 October 2009)

*Re: TRADING HALT*

Another Material Acquisition ??

I wonder what affect this will have on the Share Price -- the last one was rather significant albeit involving joint ventures ...

Hmmm Maybe we will see some decent movement


----------



## growing (12 November 2009)

*Re: RFE - Red Fork Energy*

Well all we are seeing is downward movement 

Maybe interest has moved to blue chip stocks with all this talk of economic recovery -- i must say I'm tempted myself ... never a better time to pick up a blue chip 

And they pay dividends while you wait for them to go up


----------



## nazzysmith (17 November 2009)

*Re: RFE - Red Fork Energy*

Well the stock is now sitting down around $0.90. 

Interested on any bodies thoughts are around the USD impact to this stock.

I do own this stock as along term buy.

I believe the Aus dollar will surpass the USD dollar in value.

Therefore supposing the following where to happen in 2 years time or higher. 

(AUD $1.20) = (USD $1.00)

What would be the flow on effect to this stock?

Nazzy


----------



## Shrewd Crude (25 November 2009)

*Re: RFE - Red Fork Energy*

nazzy,
dont worry about the flow on effect,
RFE's market value had got way ahead of where it should be...
in time this could be a good stock, but not yet...
EOK flow rates are poor, and these flow rates are not enough to support a higher mcap,
infact a lower mcap...

.^sc


----------



## growing (9 December 2009)

*Re: RFE - Red Fork Energy*

The latest broker report i read,  place this share having a 12 month target of $4.10 - $4.30 !!

But they were involved in being paid for placements etc etc .. I emailed the Broker asking for an updated report, they said they will release one before the end of calender 2009 however their last report still hold fundamentals which are unchanged ..

This was from Chess Capital and Partners Dated August 2009 ..


----------



## growing (20 March 2010)

*Re: RFE - Red Fork Energy*

3 months since my last post on this one .. Is heading up slowly again but I wonder if the weather over there is hampering any efforts ??


----------



## growing (29 March 2010)

*Re: RFE - Red Fork Energy*

Haha, Look I know I have posted the last 2 times on his thread but I have to bring to everyone's attention, the hilarious battle going on between that stockanxiety.com guy and one of Red Fork's brokers!!

Makes you wonder if Red Fork have something to hide ???


----------



## growing (30 March 2010)

*Re: RFE - Red Fork Energy*



growing said:


> Haha, Look I know I have posted the last 2 times on his thread but I have to bring to everyone's attention, the hilarious battle going on between that stockanxiety.com guy and one of Red Fork's brokers!!
> 
> Makes you wonder if Red Fork have something to hide ???





Well the battle is over, he got his hands on that Hartleys report and posted it on his blog. 

This RFE baby has LOADS of SHALE GAS yet to be tapped which gives a future upside of greater than 500 cents -- that's JUST the Shale Gas!! Would have to hold RFE for a few years to see that I would expect .. anyway more details on the Hartleys report ...


----------



## Trader Paul (20 November 2010)

*Re: RFE - Red Fork Energy*



HI folks,

RFE ... may be a leaky bucket, with the price now off its lows and increased
overall volume, over the past week ... that, comes ahead of some news 
expected out of the Red Fork camp, hopefully later this coming week ..... 

have a great weekend

   paul



=====


----------



## RexBudman (26 July 2011)

*RFE - Acerage expansion sparking price rise*

I have been following RFE (Red Fork Energy) for quite some time. After their acquisition announcement the price started on a steady rise from a 0.41 previous close, then announcement, then a 0.43 open post announcement and sits at 0.49 as of today’s close.

I follow the stock as best I can or rather as best a layman can but I am interested to hear any other opinions that you all may have, and some answers as to why RFE stock has attracted some prominent businessmen and elite companies such as the Macquarie group and Billionare Mr. Soros...


----------



## NewTrade (16 August 2011)

*Re: RFE - Red Fork Energy*

I purchased this stock for the reason of getting involved with the Mississippi play without resorting to the wig-wigs of the industry.

So far todays trading was good. The Stochasitcs indicate over-selling, the volume is up, MACD is bullish and a slight, ever so slight price increase. Market sensative information is fresh as Tahara will be spudded this week. I just do not see how this is a bad buy right now.

If anyone wants to chime in then please do so.


----------



## Kremmen (6 December 2011)

*Re: RFE - Red Fork Energy*

Euroz is promoting RFE heavily and they have been moving steadily to new highs recently.


----------



## PT Cruiser (12 December 2011)

*Re: RFE - Red Fork Energy*

Reaching new 12 month highs today on reasonable volume, has been trending up very solidly for the past couple of months


----------



## trader8888 (28 December 2011)

*Re: RFE - Red Fork Energy*

Been running some numbers on RFE and current play assumtions look very conservative compared to OIP figures stated by schluberger on wireline log data. 

RFE's current recovery factors on OIP are currently running at %1, this is very low. AUT are currently running at an average field recovery factor of %8 and through well down spacing see the recovery factor jump to 16%.

On current metrics i have calculated RFE's 2c resource to be - 84,300,000 MMBOE

EUR - 300,000 boe
3 wells per 640 acre section
84,300,000 MMBOE equates to 1% recovery of OIP

I would expect this figure to move to the 3P category very soon. Possibly after the first 5 wells are drilled and a maiden reserves report is commisioned. In future i can see this figure being base line 1p PUD reserves.

Now moving to 80 acre spaccings (or 8 wells per 640 acre section) on the same metrics, total recovery of OIP would be 2.4% or 225,300,000 MMBOE

The upside potential on offer here is really staggering, the downside risk is also relativly low with RFE currently only trading at land value. IMO big gains could be realised over the next 1-5 years through reserves and production growth, also as risk subsides with more production data.


----------



## lioness (22 January 2012)

*Re: RFE - Red Fork Energy*



trader8888 said:


> Been running some numbers on RFE and current play assumtions look very conservative compared to OIP figures stated by schluberger on wireline log data.
> 
> RFE's current recovery factors on OIP are currently running at %1, this is very low. AUT are currently running at an average field recovery factor of %8 and through well down spacing see the recovery factor jump to 16%.
> 
> ...





Looks like this has just had a cleanout on Friday. If it can scott through 90 cents now this week, it will be away again. McMurty news due this week so I suspect they released tahara first and then whammo, give the sellers an uppercut with good news.

Let's see how it turns out, but the strong recovery from 80 cents means buyers know that there is more news soon.

Anyone else have any thoughts here. Hartleys have a target of 4.30 on this not that means anything these days.


----------



## reeftip (22 January 2012)

*Re: RFE - Red Fork Energy*

Some broker reports give valuations on the stock between $4 and $8. The $8 one comes from Novus Capital.
Personally I am happy with the upside reward vrs the downside risk with this one.
While I am not putting the house on it - a decent speckie punt could be a nice little earner.


----------



## trader8888 (28 January 2012)

*Re: RFE - Red Fork Energy*



reeftip said:


> Some broker reports give valuations on the stock between $4 and $8. The $8 one comes from Novus Capital.
> Personally I am happy with the upside reward vrs the downside risk with this one.
> While I am not putting the house on it - a decent speckie punt could be a nice little earner.




Might i ask, what do you think is so speculative about the mississippi lime??


----------



## reeftip (28 January 2012)

*Re: RFE - Red Fork Energy*



> Might i ask, what do you think is so speculative about the mississippi lime??




Financials Red Fork Energy LTD
FYE June	6/2008	6/2009	6/2010	6/2011
Revenue $m	1	1	       3	        3
NPAT $m	-3.7	-3.0	-2.9	-3.8
EPS  cents	-4.6	-3.1	-2.2	-2.3
EPS Growth %	0.0	0.0	0.0	0.0
DPS cents	0.0	0.0	0.0	0.0
Franking %	0.0	0.0	0.0	0.0
Div yield%	0.0	0.0	0.0	0.0
PER X	0.0	0.0	0.0	0.0
ROE X	-21.3	-11.4	-6.3	-5.2

Source: Aspect Huntley

Sorry the table formatting keeps getting stuffed up.

To me when a company cannot show a history of making money it is a speckie.


----------



## trader8888 (28 January 2012)

*Re: RFE - Red Fork Energy*



reeftip said:


> Financials Red Fork Energy LTD
> FYE June	6/2008	6/2009	6/2010	6/2011
> Revenue $m	1	1	       3	        3
> NPAT $m	-3.7	-3.0	-2.9	-3.8
> ...





Fair enough thats your style, but there is nothing speculative about the mississippi lime, and RFE have a massive 73,000 net acres in key counties. Big money is made when buying before the obvious becomes general public knowledge.

Look at it like this - 

NPV(10) - 

282 drilling locations x 300,000 EUR = 84,600,000 mmboe 

NPV (10) 3P reserves = $1,142,100,000 or 3.60 per share.

NPV worked out on only $15 a bbl, so drilling costs, transportation costs, well maintenance costs are more than compensated for. 

Hence, Net present value (NPV) at a %10 discount of = $1,142,100,000 or 3.60 per share. 

Once RFE start drilling and converting 3P to 1P the market will start assigning a higher premium.

Note :   84,600,000 mmboe equates to only a %1 oil in place (OIP) recovery factor, which is very low.


----------



## reeftip (28 January 2012)

*Re: RFE - Red Fork Energy*

Lol - we might disagree on the use of some words, but we both agree on the upside
potential on this stock.

Your calculations look pretty good and I would go along with your conclusions. 

I agree with you about timing for getting into a mining stock - the besy time IMO is in the transition from being a developer to a producer. That time for Red Fork is about now. 

I am happy to put my money into this one right now.

DYOR: Where there is drilling there is always risk.


----------



## lioness (11 February 2012)

*Re: RFE - Red Fork Energy*



reeftip said:


> Lol - we might disagree on the use of some words, but we both agree on the upside
> potential on this stock.
> 
> Your calculations look pretty good and I would go along with your conclusions.
> ...




What's with the extreme buying that has been happening here. I have gone all in here on the break of 90 cents as that was major resistance which is now major support. Looks to me some major news is coming. Guessing a takeover or major JV with big player. Cannot be just production news as buying is too desperate. they hoover anything up that is major volume. Thoughts anyone. This has 2.50 plus all over it and reminds me of AUT.


----------



## reeftip (11 February 2012)

*Re: RFE - Red Fork Energy*

Hi
I think what caused the sudden rush is the outstanding log results from the McMurtry #1-21H well. It really could not have been much better 

This stock has been talked about on a few forums, so I think this announcement was the buy signal for a lot of people. 

There is so much that can go wrong in drilling an oil / gas well. The results de – risk the investment enough so a lot more people are willing to take a shot at this one.

I could be wrong about this, but either way I am happy the share price is heading North.


----------



## reeftip (17 February 2012)

*Re: RFE - Red Fork Energy*

These guys keep making good announcements

They have just leased a “Top Drive” rig from Oklahoma company Jerry Scott Drilling for the next 12 months.

Top Drive rigs drill faster (around 17-20%), safer and better than the traditional kelly and rotary table.

Disclosure: More stock held than when I last posted


----------



## wobblyboots (23 February 2012)

*Re: RFE - Red Fork Energy*

hi reeftip

you mentioned the recent increase in volume, the word is RFE is a possibility of being upgraded to the ASX300 in the near future, rebalancing occurs in early March.

quite possible that some funds are getting in early and that some are taking overweight positions.

have held and grown my position for well over 2 years now and have never felt more confident.

trader8888, love your posts mate, keep it up.


----------



## reeftip (23 February 2012)

*Re: RFE - Red Fork Energy*



> you mentioned the recent increase in volume, the word is RFE is a possibility of being upgraded to the ASX300 in the near future, rebalancing occurs in early March.
> 
> quite possible that some funds are getting in early and that some are taking overweight positions.




Yes I think you are right. I noticed some buying yesterday that had 'Insto' written all over it. 

An upgrade to the ASX 300 would explain a lot of the activity.


----------



## Harvestar (19 March 2012)

*Re: RFE - Red Fork Energy*



reeftip said:


> Yes I think you are right. I noticed some buying yesterday that had 'Insto' written all over it.
> 
> An upgrade to the ASX 300 would explain a lot of the activity.





Can anyone tell me whether it was upgraded to the ASX300? I realised that it was subject to approval which was to be confirmed on the 16th, however I haven't seen any company announcements and having trouble accessing the information on the SandP website.....


----------



## wobblyboots (26 March 2012)

*Re: RFE - Red Fork Energy*



Harvestar said:


> Can anyone tell me whether it was upgraded to the ASX300? I realised that it was subject to approval which was to be confirmed on the 16th, however I haven't seen any company announcements and having trouble accessing the information on the SandP website.....




harvestar, unfortunately RFE not upgraded to ASX300 YET.

waiting for CQO takeover to be finalised. they are currently in the ASX100 and have a few loose ends to tidy up before they are removed from the index. probably looking at around the middle of April before we can hope to be upgraded.

probably a very good reason for the complete drop off in volume.


----------



## Harvestar (27 March 2012)

*Re: RFE - Red Fork Energy*



wobblyboots said:


> harvestar, unfortunately RFE not upgraded to ASX300 YET.
> 
> waiting for CQO takeover to be finalised. they are currently in the ASX100 and have a few loose ends to tidy up before they are removed from the index. probably looking at around the middle of April before we can hope to be upgraded.
> 
> probably a very good reason for the complete drop off in volume.




Thanks for the update mate. Yeah I've noticed the massive drop in volume, bit disappointing. 

Time will tell....


----------



## Harvestar (13 April 2012)

*Re: RFE - Red Fork Energy*

Hi all,

I'm interested to know what people's thoughts are on RFE at the moment.

I believe they were expected to be admitted into the ASX200 this month, replacing CQO or AZT, therefore opening up 2 potential spots, however missed out on both.

Is the market cap still not high enough to be admitted at this stage?


----------



## Gringotts Bank (14 May 2012)

*Re: RFE - Red Fork Energy*

Harvester, I think if any stock is to do well in this type of market, it's RFE.

I hold 0 stocks at the moment, but looking for an entry to RFE, and maybe NWT.

Not sure about the ASX200 bit.  Try Hotcopper maybe.


----------



## skc (14 May 2012)

*Re: RFE - Red Fork Energy*



Harvestar said:


> Hi all,
> 
> I'm interested to know what people's thoughts are on RFE at the moment.
> 
> ...




In March S&P announced that RFE will make the ASX*300* subjected to CQO finishing up. 

There's no mention of ASX200.

For refernece only, the last ASX200 admission was SUL which has a market cap ~$1.4B. RFE is no where near that atm.


----------



## springhill (23 June 2012)

*Re: RFE - Red Fork Energy*

RFE announces Production Testing Blair #1-24H Well Noble County, Oklahoma
http://www.asx.com.au/asxpdf/20120622/pdf/426zh0ccz6z36p.pdf

The well has been testing for approximately 48 hours with some oil and gas evident immediately when testing
commenced. During the last 24 hours of flow back the well tested as high as 20 barrels of oil per hour with 240,000 cubic feet of liquids rich gas. Whilst the well is on an Electric Submersible Pump (“ESP”), these results were achieved primarily via intermittent flow through the casing.
It is important to note that only a very small fraction of load (reservoir stimulation water) has been recovered so far during this initial testing phase and the fluid level in the well bore is very high (approximately 300 feet from the surface).
Production testing is continuing as the well cleans up and rates have not yet stabilized. Red Fork will look to release both a 30-day peak and average rate for the well as the initial production testing operations are completed.


June 20. RFE announces the commencement of completion and reservoir stimulation operations at the McMurtry #1-21H well in Noble County
http://www.asx.com.au/asxpdf/20120620/pdf/426xrr29j7ys2s.pdf
Further updates to follow.


June 4. Mississippian Operations Report.
http://www.asx.com.au/asxpdf/20120604/pdf/426n1tf6tjrjkd.pdf

*Development Area 2 (Noble and Payne Counties, Oklahoma)*
Blair # 1-24H Well
Completion and reservoir stimulation operations have successfully been completed on this well. Eleven frac stages over the full length of the lateral were completed with the well now flowing back frac fluid at 100 barrels per hour through production facilities. Testing is continuing and further updates will be provided.

McMurtry #1-22H Well
This well successfully reached its target depth of 9,350 feet. Logging has been completed and production casing has been run and cemented. The well has been shut-in awaiting completion and production testing.

McMurtry #1-21H Well
The well is shut-in awaiting completion and production testing. Completion operations will begin shortly.

Bunch #1-19H Well
This well is currently drilling ahead in the lateral at a depth of 4,500 feet. This Red Fork operated well will be drilled to a vertical depth of approximately 5,300 feet, with an estimated further 4,700 feet of lateral to be drilled in the Mississippi Lime formation to an approximate total depth of 10,000 feet.

Tasman #1-15H Well
This well has spudded and is drilling ahead in the vertical section.

*Development Area 1 (Pawnee County, Oklahoma)*
Abunda #1-21H Well
Production testing of this well is continuing and notwithstanding the high fluid level in the well bore, some intermittent (not yet stabilized) oil and gas is being produced.
It is important to note that with the high fluid level in this well and the resultant pressure on the productive formation, the Company has not yet reported a peak flow rate. This will be reported when the Company has established that the fluid level has been sufficiently lowered to enable the well to unload.
This production testing profile is not unusual for horizontal wells in the Mississippian, which require low pressure at the face of the formation in the well bore to recover oil and gas. Further updates will be provided as testing continues and these pressures are lowered.




Investor Presentation. May 22nd.
http://www.asx.com.au/asxpdf/20120522/pdf/426dk2vlm54x6n.pdf


----------



## RNI (7 September 2012)

*Re: RFE - Red Fork Energy*

RFE just gone onto the Dow Jones. on the S&PDJ today. Good news and awaiting the meeting to vote on the CR.  After that they will have the money to drill ahead and also will go from using 2 to 4 rigs so hopefully we will get a much higher boepd by year end.


----------



## RNI (11 September 2012)

*Re: RFE - Red Fork Energy*

Sorry,  my mistake. The S&PDJ which I thought mean't the DowJones doesn't somehow but (in this case) means we are going into the S&PASX 300 on September 21 this year so that is good news.


----------



## mr. jeff (11 September 2012)

*Re: RFE - Red Fork Energy*



RNI said:


> Sorry,  my mistake. The S&PDJ which I thought mean't the DowJones doesn't somehow but (in this case) means we are going into the S&PASX 300 on September 21 this year so that is good news.







The previous gusto that RFE moved with seems to have disappeared for the moment. I don't know where they are up to, but technically, not pretty. 

Not terrible, but better out there. I remain optimistic on RFE's future, but that counts for nothing and usually means losing!


----------



## lioness (6 October 2012)

*Re: RFE - Red Fork Energy*



mr. jeff said:


> View attachment 48931
> 
> 
> The previous gusto that RFE moved with seems to have disappeared for the moment. I don't know where they are up to, but technically, not pretty.
> ...




Stuck in the mud alright, this is looking ugly and like it will collapse.

Someone is dumping large lines of shares all the time. Another 980k dumped in one hit on Friday.

This has been written up a lot as a takeover play in shale gas so maybe an offer is coming.

Reckon this will collapse next week.


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## RNI (28 October 2012)

*Re: RFE - Red Fork Energy*

It looks awfully like MAYBE just maybe someone is accumulating to take us over. We have been kept down too long imo. Value is around $1.50 (per analysts) in approx 12 months time when we have  many more wells drilled and in production so would be awful if we are only offered about $1.

Looks very suspicous indeed. If we are offered a low ball figure, if we all hold onto our stock tightly and don't sell, surely they would have to offer higher. Time will tell.


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## mr. jeff (29 October 2012)

*Re: RFE - Red Fork Energy*



RNI said:


> It looks awfully like MAYBE just maybe someone is accumulating to take us over. We have been kept down too long imo. Value is around $1.50 (per analysts) in approx 12 months time when we have  many more wells drilled and in production so would be awful if we are only offered about $1.
> 
> Looks very suspicous indeed. If we are offered a low ball figure, if we all hold onto our stock tightly and don't sell, surely they would have to offer higher. Time will tell.




I agree that something is up. There is no reason for RFE to be avoiding a trend from a macro POV. This is artificial and I'm looking for news soon - management should have said something already as this trading has been happening since June. Admittedly it was precipitated by the CR at 70c. 




Have a look at the volume spikes - the share price never closes on the highs, as soon as there is a buyer, someone is filling them.

The other possibility to a takeover is that something is happening behind the scenes (not good) and a large holder is distributing their shares, capping the price. If there was a takeover coming you would expect to see more movement to the upside with accumulation - this looks as though someone is exiting. This stock has great prospects and I anticipate a strong move up when this finishes, but what is going one behind the scenes...?


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## RNI (24 February 2013)

*Re: RFE - Red Fork Energy*

Agree Mr Jeff

Still being held back but they are drilling their  heads off and production in increasing+++ so I am just holding on to my large parcel as they are the 3rd highest (going on production) amoung the asx oilies, top is of course AUT and second will be the new SEA (if it comes off) so RFE being 3rd behind those two greats says sometthing imo.


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## mr. jeff (11 June 2013)

*Re: RFE - Red Fork Energy*

update on the previous action.

Clearly broken out of range. 
Prospects not good at this stage.



3 yr weekly RFE

For anyone that likes to see their gaps filled, you could say that after that gap up, it came back and filled it over and over again. 

Turns out that people wanted out and they have left in droves.
Not good for holders, however the story has some good parts so the faithful may one day see reward.

Sorry for the glib comments.


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## mr. jeff (22 August 2013)

*Re: RFE - Red Fork Energy*

I am stupidly holding this stock from a price of 43.5c and waiting for a reversal to develop with a strong run back to 70c. Tell me I am foolish as I watch it retest that 35c level if you would like. This is one of those stocks that has had a major downside and I am emotionally trading based on enthusiasm from others.

Technically it has made no sign of moving up except for 2 things:

1/ it has tested and respected 40c twice which is a positive as far as further downside risk goes. (minutely positive)
2/ capital raise at 43c or so completed in last few days limiting the sell down below that level
2a/ this means they have cash for a while.....

Look for volume increase and a move up for a signal of interest. 
I would say though on the average it will meander in a downward spiral until there is a takeover offer at around the 20c mark!


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## sirkiteman (24 May 2014)

*Re: RFE - Red Fork Energy*

It seems to me that Red Fork will be bought out by its creditors.


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## Echidna50 (3 June 2014)

*Re: RFE - Red Fork Energy*

Hi to all, have you seen the seeking alpha article with tittle, "Red Flags at Red Fork"? 
What's your opinion?


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## RNI (17 August 2014)

*Re: RFE - Red Fork Energy*

RFE is in the process of capitalising by potential sales of some tenements in Oklahoma, to enable them to pay their creditors and stay afloat!! They have hired advisers to assist with this process, and let's hope it is successful.

I had sold previously, but have ventures back in with a small holding at these low prices, as I believe if it is going to survive, and the sales go ahead as planned, they will surely be well advised (by their consultants) how best to manage the whole company going forward and avoid the problems of the past through having such a large tenement. 
Chesapeake got into the same situation and has also sold off much acreage, and has since thrived.

Like everyone I await news.


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## System (23 June 2015)

On June 23rd, 2015, Red Fork Energy Limited (RFE) changed its name and ASX code to Brookside Energy Limited (BRK).


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## Chilledpain (14 May 2018)

THREAD REVIVAL! 

Recap:

- RFE changed their name to BRK.
- BRK learned from previous mistakes with RFE, looked for companies that were still making money during the massive downturn in 2014/15 and set up shop in their immediate vicinity.
- Production volumes increasing.
- Land values increasing.
- Price of oil on the rise and looking to stay that way medium term. 

I believe this company has some serious potential as a long term stock and is super cheap at the moment. The idea of the business is to accumulate land that is mineral rich (oil/shale), place some wells on the land to show it's potential and sell it off once the land values increase. In the meantime, they will produce their own oil from the wells to turn a profit. The company has nine wells that it started setting up in May last year. It plans to add another 14 to take production up to 1000 BOE/day.

Last quarterly report, they had 9 wells producing - this quarter they have 12 wells producing of which they have a working interest in each. Many more wells to come online this year. They expect to have 2 million generated in net cash this year which I believe is conservative as they generated $875,000 in the March quarter alone. They are taking mineral royalties and a portion of the oil and gas produced at the moment but this is not the core of the business - the idea is to show the worth of the acreage and ultimately be bought out by another major. When this happens... well...

Some exerts taken:

- Production volumes already sold and volumes forecast to be sold are expected to generate net cash flow of ~US$2,000,000 over the next 12 months. Importantly, this net operating cash flow is net of royalties and lease operating expenses. Subsequently, approximately US$875,000 of this forecast ~US$2,000,000 in net cash flow was received during the March quarter. (note: income taken is not shown in balance sheets as it is placed back into the off balance sheet and funding facility to fund more wells etc as per below)

- US$875,000 in net cash flow received during the March quarter, available to be re-deployed to fund drilling and completion costs,increased well bore interests and lease acquisitions.

- Undeveloped acreage values continued to rise during the quarter as these world-class plays continue to mature. Analysis of the estimated US$8.0 billion in merger and acquisition activity that occurred in the Anadarko Basin Plays over the last two years showed undeveloped acreage trading at a weighted average of >US$16,000 per acre. (the acreage owes them about $5000 an acre on average - they have 2100 acres in the Andarko basin alone)

There appears to be no reference to asset value in the quarterly but let's say they are able to sell for $16000 (speculatively valued at $29,000 an acre now) an acre, the acreage value in the Andarko basin alone would be worth 33 million. They have additional acreages on top of this they are developing.

Granted, this stock hasn't seen much movement over the past 12 months and I think largely due to the understanding of the business model but when the market realizes the land values and readjust them to reflect their true value, no doubt the share price will re-rate accordingly.

To top it all off, oil prices are strong at the moment which should help to increase BRK's productivity, cashflow and so on.

Please DYOR.


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## doogie_goes_off (25 July 2019)

I'd like to wake you all up to this stealth play... very encouraging announcement out today and word is that stack play well from Continental might be a winner - cash flow and average acreage prices climbing because of smart positions in known basins. CVN followers would do well to dig a little deeper on this one. Onshore is smart when you're small cap.


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## Chilledpain (28 October 2019)

Long time since the last post but reviving this thread. 

Thought it about time to revisit the current value of BRK which is clearly being ignored by the market at this stage.

The below link is interesting for determining potential SWISH value as it shows first hand what is being offered in some locations in the SWISH AOI vicinity (offer made from major oilers direct to lessor):

https://www.mineralrightsforum.com/t/stephens-cty-sec-17-township1s-4w/51611

Various companies are bidding at up to $10k USD per acre (so far) in the sections adjoining SWISH. Noting, this is undrilled,unproven and the offers mentioned are very recent. (Also worth mentioning the offers have not beencounter-offered as yet meaning upon negotiation, the values agreed upon could very well be higher)

Breakingdown BRK assets and liabilities:

SWISH Acres (current) assuming $10k USD per acre x 2000 acres = $20m USD - converted to AUD = ~A$30m.
STACK Acres NPV10 Reserves @ ~A$18m minus ~30% (20-30% discount typical in event of sale) = ~A$12m.
Total Value of assets: ~A$42m.

On top of the above, BRK also own a 17% stake in Black Mesa - Value unknown.

Minus loan facilities:Leasing Facility: ~A$4.2m

Total loans: ~A$4.2m

Total (assets minus loans): ~A$37.8m (or 3.78cps)

Current market cap: $9m


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## Chilledpain (30 October 2019)

Update:

Brookside has just increased their SCOOP acreage holdings to 2500 acres.

Land just 2 sections north of BRK’s AOI (near Continentals Springboard Project) is getting offers of up to $25,000USD ($36,000) an acre. (UNDEVELOPED) – Check out the Oklahoma Mineral Rights forum for discussion on Stephens County for offers given to land owners.

Brookside’s AOI has plenty of geological data from old wells and BRK got in early thus was able to cherry pick (due to the acreage looking like it was already leased but wasn’t – as soon as the majors found out, they went all out securing everything they could. BRK is onto a winner geo wise)

Brookside just negotiated their way into land swap deals and step-in agreements which has netted approx. 3m back into their bank account this quarter. That’s $3m cash ready to go for new projects for a $10m MC.

Their first fully operated DSU is about to get underway – the Jewell well.

Their strike rate so far on wells (on their land) has been 100% with decent IP flow rates on all wells bar one (which is still in production).

Their maiden reserve report for their 400 STACK acres came in at $18m AUD NPV10.

The Jewell well has the potential to triple their current reserves.

Now before you go and check the 4C – note, this company is NOT a producer and they are not after revenue from wells. They generally allow other companies to come in and drill to keep all the proceeds – they are after one thing: The oil and gas reserves (which in turn increases land value). Once a well is drilled, they are able to calculate the remaining value of the O&G reserves in the ground and revalue the land accordingly. Building value through assets.

Breaking down BRK assets and liabilities:

SWISH Acres (current) assuming just $10k USD per acre (as mentioned, bids up to $25000per acre received in sections just 2 ranges above BRK’s AOI) x 2500 acres = $25m USD - converted to AUD = ~A$36m.

STACK Acres NPV10 Reserves @ ~A$18m minus ~30% (20-30% discount typical in event of sale) = ~A$12m.

Total Value of assets: ~A$48m.

BRK also own a 17% stake in Black Mesa - Value unknown.

Minus loan facilities:

Leasing Facility: ~A$4.2m

***Note the STACK Drilling Joint Venture: ~A$4.8m is NOT a BRK loan when reviewing the presentations***

Total: ~A$43m (or 4.3cps)

Current SP: ~1.0cps

Current market cap: $10m

I am battling to find a chink in BRK’s armor at the moment so if anyone has any reason why the calculations above aren’t on the money, I’d love to hear it.

Even at half the land value ie: $5kUSD per acre, still shows a value of ~$25m AUD or 2.5cps.


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## greggles (10 March 2021)

Brookside Energy doing well today, up 31.25% to 2.1c. Volume has been much higher than normal since 3 March and the share price has been steadily increasing over the last week.

With oil and gas prices increasing recently, I suspect we may be about to enter a bullish phase for energy as the world starts to shrug off COVID and things get back to business. Demand for energy should increase all through 2021 IMO.

I think we'll see BRK head towards 3c in the short term now that it has broken through 2c.


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## Sean K (10 March 2021)

greggles said:


> Brookside Energy doing well today, up 31.25% to 2.1c. Volume has been much higher than normal since 3 March and the share price has been steadily increasing over the last week.
> 
> With oil and gas prices increasing recently, I suspect we may be about to enter a bullish phase for energy as the world starts to shrug off COVID and things get back to business. Demand for energy should increase all through 2021 IMO.
> 
> ...



Wouldn't be surprised if they get another please explain that was only a week ago. Something fishy. It doesn't look like they're waiting for any results??


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## greggles (10 March 2021)

kennas said:


> Wouldn't be surprised if they get another please explain that was only a week ago. Something fishy. It doesn't look like they're waiting for any results??




Unless I'm missing something, there's no reason for volume to have increased so dramatically on 3 March, and then to have remained high every trading day since then.

The response to the last Please Explain notice was the typical "we know nothing" reply, but the buying over the last week has the odour of insider's buying. I could be wrong, but that's my gut feeling.

Something is definitely up. What exactly that is remains to be seen. But I still think it's going higher in the short term. Trading at 2.2c now.


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## kenny (11 March 2021)

Stockhead mentioned them recently without any substance;
https://stockhead.com.au/experts/how-to-profit-from-the-biggest-reopening-trade-since-world-war-2/
Microcap pick​Within his broader macro analysis, Whelan pinpointed an ASX microcap play that looks set to benefit from one of the core trends in the great reopening — oil prices.

“If you don’t own Brookside Energy (ASX:BRK) right now, then you should probably have a really good look at it,” he said.

“It’s a perfect representation of where I’m investing. Oil prices are going up and gas is going up, and I’m rotating into energy.”

“The holdings that BRK has are phenomenal. That’s the stock that’s going to make people a lot of money over the next couple of months.”


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## Chilledpain (11 March 2021)

kennas said:


> Wouldn't be surprised if they get another please explain that was only a week ago. Something fishy. It doesn't look like they're waiting for any results??



They're about to start drilling on their maiden well in a proven (highly productive) location, surrounded by major players with a very experienced team in Oklahoma (Black Mesa).

First well in a 20 well program.

All announced and the market is speculating on their success hence the volume I'd assume.

Plus it's been an unloved and undervalued stock for quite some time - fair value based on prospective resources, reserve values at NPV10 once developed around $100-$120m at current oil and gas prices. 3-3.5c or there abouts would be fair value based on current assets once the placement shares come into play. (Note, they also own 50% of Black Mesa which is a highly successful acquisition business in itself) BM's value should also be substantial (how much is anyone's guess though).

Things on the cards for the near term:

Jewell well (Maiden well DSU development)
Thelma well behind pipe exploitation
Bradbury unit development
Flames & Rangers DSU development (Very close to Jewell location and again surrounded by majors with impressive flow rates)

There is a lot of news to flow in the next 6 months on this one hence the interest.


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## greggles (11 March 2021)

Thanks for the summary @Chilledpain - that explains a lot. You obviously know this company very well. Please keep us updated with any further developments.


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## Sean K (11 March 2021)

greggles said:


> Thanks for the summary @Chilledpain - that explains a lot. You obviously know this company very well. Please keep us updated with any further developments.



A DM would be better...


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## greggles (3 May 2021)

BRK scheduled to spud their Jewell well this week. Lots of ramping all over the place about this stock. Is the hype justified?

One way or another, we'll know very soon.


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## greggles (18 May 2021)

BRK is now dual listed on the ASX and the Frankfurt Stock Exchange. The Jewell Well is progressing well and they should hopefully be seeing the black stuff soon.



> *Current Operations*
> 
> Having set and cemented the surface casing and installed and tested the well head and BOP stack, the Jewell Well was drilled in the vertical section to a depth of ~6,850 feet.  During the last 36-hours the drill string was tripped out of the hole and the well was prepared to receive intermediate casing.  At ~9pm CDT on Sunday 16 May 2021, operations to set and cement the intermediate casing were successfully completed.
> *
> ...




Video of activities on site at the Jewell Well: https://www.linkedin.com/posts/davi...lgas-energy-activity-6800248407987515392-9Mdy


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## greggles (8 June 2021)

After hitting a low of 2.2c late last month, the BRK share price has started heading back up this afternoon and looks like it might finish the day at 2.6c, up 13%.

The market is interested in seeing oil from the Jewell well. Today's price action makes me think that the next announcement can't be too far away.


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## greggles (24 June 2021)

Volume drying up almost completely now for BRK as the Jewell Well is readied for production. The market is waiting on production data such as oil flow rates.


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## greggles (29 June 2021)

Some good news through this morning for BRK.



> US major ExxonMobil, through its subsidiary XTO Energy Inc. (XTO), has elected to participate in the Jewell DSU by taking up its 4.5% Working Interest. Additionally, Citation Oil and Gas Corp. (Citation), one of the largest private oil and gas companies in the United States, has also elected to take up its 2.3% Working  Interest.  A further 5.7% Working Interest was taken up by a combination of private equity and smaller private oil and gas firms. Participation in the Jewell DSU includes an equivalent Working Interest in the high-impact Jewell 13-12-1S-3W SXH1 well (Jewell Well) plus the opportunity to participate in future wells drilled in this DSU.
> 
> Brookside expects to retain as much as a 87% Working Interest in the Jewell DSU, with the Company's subsidiary Black Mesa as the operator.




This is a big vote of confidence by ExxonMobil in BRK and the Jewell DSU. There is no way ExxonMobil would have come on board if they were not happy with what was happening at the Jewell Well.

The buy side of the market depth is seeing some large bids now. BRK will go much higher this morning and will likely gap up at the open.


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## greggles (26 July 2021)

BRK back at 3c now and with production at the Jewell Well about to commence we could see this bullish momentum continue once the oil is pumping and flow rates are established. 

The news flow should start to increase now. Could be a trading opportunity coming up very soon if the news is good.


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## Chilledpain (26 July 2021)

greggles said:


> BRK back at 3c now and with production at the Jewell Well about to commence we could see this bullish momentum continue once the oil is pumping and flow rates are established.
> 
> The news flow should start to increase now. Could be a trading opportunity coming up very soon if the news is good.



Agreed mate, picking up some steam now. Jewell news should be the catalyst and Rangers should follow very closely after. Great time to be a holder


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## Stockbailx (27 July 2021)

Pick for August Stock Comp...Might be a good time to get in on Brookside Energy. current price 0.031c after a high of 0.033c this morning, I've picked BRK to come into August with the possibility for a breakout early August. Technically speaking, because as I add insight to the BRK chart, I feel its on its way for the potential for consolidating a cup and handle formation. And Fundamentally they are of sound business structure. Just recently they announced there Investor Presentation, witch was a fine read with a Market Cap $77m. I think it may be going places and have a good session in August.


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## greggles (10 August 2021)

BRK starting to fire up. The company announced last week that it has raised $9 million through the issue of 300,000,000 FPO shares at 3c a share in a heavily oversubscribed placement. The funds raised "will be used to increase the Company's position in the Rangers Drilling Spacing Unit (DSU) and to fund a majority Working Interest in the development of the Rangers Well in the SWISH AOI."

News flow about to ramp up:



> Commenting on the announcement, Brookside Managing Director, David Prentice said:
> 
> [...]
> 
> ...


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## greggles (13 August 2021)

Proactive Investors BRK update interview with Managing Director David Prentice.


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## Chilledpain (13 August 2021)

Jewell pad with Liberty on site. Completion underway  Impressive video.





Your browser is not able to display this video.


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## doogie_goes_off (13 August 2021)

If they drill rangers and get 2 producing wells there will be some serious upside.


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## greggles (2 September 2021)

The Jewell Well flowback operations have now commenced with the well flowing to temporary facilities as the stimulation fluids start to be recovered. Now acitivites on site will be focused on turning the well from temporary facilities to permanent production facilities.

Everything seems to be progressing on schedule and without incident. The BRK share price has been up and down recently but it is up to 3.3c today and as long as no negative news is announced it shouldn't go much below this. Pad construction at the Ranger's Well has now commenced and management seem keen to push things forward as efficiently as possible.

The final four months of 2021 should be very good for BRK, as long as everything continues to goes to plan.


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## Chilledpain (11 October 2021)

Some great modelling on the Jewell well - as taken from the Brookside Energy Reddit page. (link below)

https://www.reddit.com/.../updated_jewel_well_modelling/


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## greggles (13 October 2021)

The Jewell Well is performing well for BRK with production at the high end of expectations. The company is currently preparing for the spud of their second well, the Rangers Well.



> The Jewell Well has now achieved daily production of 1,727 BOE per day (82% liquids, 18% gas) reaching our pre-drill high side estimate with liquids production reaching 1,413 barrels per day (973 bbls oil, 440 bbls NGL’s).
> 
> To date approximately 32% of the stimulation fluid has been recovered and production continues to increase steadily. The Company will report a peak rate (IP24), as well as IP30 and IP90 rates, as these are achieved.


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## doogie_goes_off (13 October 2021)

1000 barrels (oil only) at $83 US a barrel  is ~ 30M US a year - well cost ~ 10M so paid back in December then  ~$20M US (closer to $30M Aus free cash flow next year - company has a market cap of $87M Aus so a price to earnings middle of next year will be ~3 or otherwise known as extremely ******* cheap. Normal P/E ratio for a cash positive stock is >10 so that would make it 3x undervalued. It will take a while for the analysts to catch up. My price target is 5c after the December quarterly comes out.


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## greggles (17 December 2021)

The Ranger's Well spudded last Saturday evening Oklahoma time. The video below provides a general update and a near term outlook.




The share price has fallen back in recent months but the company is still pushing things forward at breakneck pace. The oil price decline sparked by the COIVID Omicron variant hasn't helped matters. Personally, I think BRK is a steal at current levels, especially given that the company will be moving forward rapidly on new wells in 2022. BRK management is one of the most proactive teams I have seen. 2022 will be BRK's year for sure.


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## greggles (10 March 2022)

Brookside has shaved six months off its Flames Well development timeline to take advantage of the record oil prices. Brookside has an 80% interest in the well, which is expected to spud later this month.


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## greggles (4 August 2022)

Flames Well is now in production, making this the third well for BRK in the SWISH AOI (Jewell, Rangers & Flame). Share price is up today but given the current and projected level of unhedged oil production for BRK (1,728 BOE per day last quarter and growing) I feel it is still well below fair value.

Production is expected to continue to grow in the coming quarters and the company has a very healthy cash position of $31.6 million.


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## InsvestoBoy (14 September 2022)

Still looking at this @greggles ?

I have become pretty interested in this and been doing my DD, even though investing in ASX microcaps is way outside my wheelhouse.

Took a parcel before the close yesterday, let's see if I have the nous to hang onto it, I usually chicken out.

No new info in the half yearly released overnight but good to see all the info in one place.


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## InsvestoBoy (19 September 2022)

Chickened out and sold it for what I paid just before todays close


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## greggles (19 September 2022)

InsvestoBoy said:


> Still looking at this @greggles ?




I took my eye off it as it hasn't managed to gain any traction. I'm not sure I can continue to have any faith in management's business strategy at least for now. It just doesn't seem to be having any real impact on the share price.

They are drilling wells and generating cash flow but can't seem to get any real momentum going. Revenue was $11.7 million last quarter but when you take royalties, production costs, exploration and evaluation into account, BRK seems to be treading water financially.

Maybe I'm just thinking too short term but I have come to the conclusion that there are better opportunities elsewhere at the moment.


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## noirua (7 October 2022)

Brookside Energy (ASX:BRK) triples acreage in Bradbury area of interest at Ardmore Basin, Oklahoma
					

Brookside Energy (ASX:BRK) has tripled its acreage position in the new Bradbury area of interest (AOI) within the Ardmore Uplift at the Ardmore Basin in Oklahoma, US.




					themarketherald.com.au
				



Brookside Energy (BRK) has tripled its acreage position in the new Bradbury area of interest (AOI) within the Ardmore Uplift at the Ardmore Basin in Oklahoma, US.

With three drilling spacing units already controlled with 80 per cent working interest in each 40-acre unit in the new AOI and the opportunity for further growth as prospecting continues, the company said it is excited at the “enormous potential” of the area.


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