Brookside Energy adds one more name in its ‘already tightly held’ register.
In the market release dated 25 October 2018, US focused oil producer Brookside Energy (ASX: BRK) told that now they have new substantial holder on its registry. Its Casey Capital!
Casey Capital, a privately-owned asset manager, has acquired strategic stakes in Brookside Energy via on-market purchase and will also sit on the chair of the newly formed Advisory Board.
The joining of Casey Capital comes in a row to substantial shareholders Merchant Funds and The Twentieth Century Motor Company along with other institutional shareholders on Brookside’s share register.
Casey Capital Chairman Mark Casey stated:
“It is an exciting investment for the company as it well coincides with the company’s vision for real estate sector and growing cash flows underpinned by more wells in Oklahoma”
The new shareholder of Brookside, Casey, holds more than 30 years of experience in development and funds management across all sectors and over AUD2 billion in projects under management. In addition, the company is focused on real estate holdings which includes interests in residential, commercial and retirement villages across Australia. Investments in the digital financial services technology space is another major segment that Casey deals into.
Brookside believes that joining of Casey Capital on their register demonstrates the company’s market recognition and a viable business model that they are executing in Oklahoma’s Anadarko Basin plays.
Brookside Managing Director David Prentice stated:
“Brookside believes that there is a strong alignment between the success that Casey Capital have enjoyed in Australia in the property sector with what Brookside are doing in the Anadarko Basin in Oklahoma”
Moreover, since lately Brookside has been seen shifting its interest from core oil and gas business to property buy-sell game. It follows the normal trend of first buying the property at undervalued rates like undeveloped oil leases in Oklahoma, then fancifies them by proving their strengths and oil reserves capabilities and finally sells it off at a decent profit.
Driven by this property focus, Brookside has established a new Advisory Board. The body is said to focus on communicating the real estate aspect of Brookside’s unique business model to investors in Australia. Casey Capital Chairman, Mr. Mark Casey has been appointed as the chairman of the Board. In the statement Brookside informed that
Advisory Board will be led by Casey Capital Chairman, Mr. Mark Casey who will together with Brookside’s Managing Director, David Prentice will form the foundation of the Board.
Through the Advisory Board the company intends to inform the investors about the returns that they can realize from the acquisition and development of Brookside’s property in Australia. Further it aims to develop the company’s profile in Australian investment community through the assistance of Advisory Board.
Going forward, the company intends to appoint more members to the Advisory Board that can also deemed fit for working in collaboration with the existing Brookside Board, the executive team and the team at US Black Mesa.
At the time of writing, 25 October 2018 (2:56 PM AEST) Brookside stock is trading flat. However, it last traded at $0.016.
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