BROOKSIDE ENERGY LIMITED — Capital/Financing Update 2017

Nov 12, 2017

Brookside Energy Limited ACN 108 787 720

NEWS RELEASE 13 November 2017

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Excellent Initial Production Rates Confirm World-Class Status of Anadarko Basin Acreage

Perth, Western Australia – 13 November 2017 - Brookside Energy Limited ( ASX: BRK ) ( Brookside or the Company ) is pleased to provide an update on drilling and completion operations across its non-operated Working Interest and Mineral Royalty holdings across the Anadarko Basin plays in Oklahoma.

Highlights

• A total of twelve wells have now spud across the Company’s Anadarko Basin holdings.

• The Landreth BIA ( IP30 2,420 BOE/day ) and HR Potter ( IP30 1,700 BOE/day ) wells continue to outperform the Type Curve .

• Highly encouraging initial results from the next two wells currently flowing back, with both wells already achieving rates in excess of 2,100 BOE/day .

• Two more wells are currently waiting on completion , with two wells drilling .

• The total well count now stands at twenty-five, spread across the Company’s non-operated Working Interest and Mineral Royalty acreage in the Anadarko Basin plays .

Excellent initial production rates continue to be delivered from the Company’s nonoperated Working Interest and Mineral Royalty wells. These results further confirm the quality of the acreage that Brookside has been able to secure within the Anadarko Basin plays in Oklahoma.

Two of the Company’s recently completed non-operated Working Interest wells, the Marathon Oil, Co. (NYSE: MRO) operated Landreth BIA and HR Potter wells have delivered 30-day average production rates ( IP30 ) above the Marathon 1,525,000 BOE Type Curve for this part of the STACK Play.

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Source: Marathon Oil’s Third Quarter 2017 Financial and Operational Review

Additional highly encouraging production results have been recorded on the next two non-operated Working Interest wells, with these two wells already achieving rates in excess of 2,100 BOE/day during flow back. Importantly, these are higher impact wells for Brookside with the Company holding a 13.6% and 3.1% Working Interest respectively.

The Company is now participating in twenty-five wells (twenty-three non-operated Working Interest wells and two Mineral Royalty wells). These wells are at various stages of development; the specifics of each well is detailed in the below table.

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Note: Working Interest percentages may increase subject to the issue of final pooling orders.

Commenting on this announcement, Brookside Managing Director, David Prentice said, “Production results like those seen in this current batch of wells, together with the general ‘play scale’ success reported by the tier-one operators in their recent third quarter results and the successful increased density pilots, are all combining to drive per-acre valuations higher and cement the Anadarko Basin plays as the best emerging development plays in North America today”.

- ENDS -

For further information, contact:

Loren King Director and Secretary

Brookside Energy Limited Tel: (+61 8) 6489 1600 loren@brookside-energy.com.au

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FORWARD-LOOKING STATEMENTS AND OTHER DISCLAIMERS

This announcement may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions, which are outside the control of Brookside Energy Limited (“Brookside Energy” or “the Company”). These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, readers are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Brookside Energy does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions or circumstances on which any such forward looking statement is based.

This announcement does not constitute investment advice. Neither this announcement nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. Shareholders should not rely on this announcement. This announcement does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this announcement are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

The information set out in this announcement does not purport to be all-inclusive or to contain all the information, which its recipients may require in order to make an informed assessment of Brookside Energy. You should conduct your own investigations and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this announcement.

To the fullest extent permitted by law, the Company does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this announcement. No responsibility for any errors or omissions from this announcement arising out of negligence or otherwise is accepted.

ABOUT BROOKSIDE ENERGY LIMITED

Brookside is an Australian publicly held company listed on the Australian Securities Exchange (ASX: BRK). The Company was established in 2004 and first listed via an Initial Public Offering in October 2005. The Company has established deep and valued relationships in the oil and gas sector over the last 10 years through its successful activities in the oil and gas sector focused on the mid-continent region of the United States. Brookside’s goal is to build value per share through a disciplined portfolio approach to the acquisition and development of producing oil and gas assets and the leasing and development of acreage opportunities.

Web http://www.brookside-energy.com.au

ABOUT BLACK MESA PRODUCTION LLC

Black Mesa is an Oklahoma domiciled limited liability company established for the purpose of identifying and exploiting opportunities in the upstream oil and gas sector on-shore in the United States. Black Mesa was capitalized via an agreement between the Tulsa Equity Group, BRK Oklahoma (a wholly owned subsidiary of Brookside Energy Limited) and the Incentive Members of Black Mesa. Black Mesa is executing a returns-based, disciplined strategy directed at the acquisition of producing properties, lower-risk development drilling opportunities and larger scale entry level acreage plays/concepts. Black Mesa’s is leveraging the extensive experience of its executive team and its Board with the latest technology and data sets that are available to identify and evaluate opportunities.

Web http://www.blkmesa.com

GLOSSARY

BOE Barrels of Oil Equivalent MBOE One Thousand Barrels of Oil Equivalents, i.e. one thousand BOE. Mineral Royalty Ownership of a percentage of production or production revenues, produced from leased acreage. The owner of this share of production does not bear any of the cost of exploration, drilling, producing, operating, marketing or any other expense associated with drilling and producing an oil and gas well. Type Curve Representative production profile of a well for a specific play. Working Interest Percentage of ownership in a lease granting its owner the right to explore, drill and produce oil and gas from a tract of property. Working interest owners are obligated to pay a corresponding percentage of the cost of leasing, drilling, producing and operating a well or unit.

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