Australia's Brookside Energy jumps on awarding drilling contract

Brookside Energy

07/03/2022 03:43

** Shares of Brookside Energy  BRK.AX  soar as much as 23.5%
to A$0.021, their best intraday session since April 2021
    ** Oil and gas miner says it has contracted Kenai drilling
company to drill the Flames Well in Oklahoma  urn:newsml:reuters.com:*:nASX6XJSYs
    ** Brookside says its Working Interest (WI) in the Flames
Well is expected to be more than 80%, double its Jewell Well WI,
with several well-funded and highly experienced US partners
expected to join in the well
    ** Stock hits its highest since Feb. 1  
    ** 61.9 mln shares have changed hands, compared with the
30-day average of 11.7 mln shares 
    ** As of last close, stock is down 15% so far this year    


 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))