David Prentice is the Managing Director of Brookside Energy Limited (ASX:BRK), an Australian publicly held company listed on the Australian Securities Exchange (ASX). Brookside has established deep and valued relationships in the oil and gas sector over the last 10 years through its successful activities in the industry 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.

What’s your journey in becoming a CEO?
I have worked all my professional life in the natural resources sector
but ironically, my first CEO role was in the professional services sector when I was given the role of CEO of a national law firm in Australia. I had a mandate from the Board and shareholders to corporatize the firm and ultimately prepare the business for merger with a larger international firm. We successfully achieved this goal and I learned a great deal about organisational change management during the process – great experience. I then transitioned out of that role into my first Oil & Gas Sector role in a start-up called Red Fork Energy.

Tell us a bit about your business and how you are commercializing?
Brookside Energy (ASX:BRK) is a Perth-based ASX listed company that generates shareholder value by developing oil and gas plays in the world-class Anadarko Basin. Brookside is executing a “Real Estate Development” approach to acquiring prospective acreage in the Anadarko Basin and adding value to it by consolidating leases and proving up oil and gas reserves. The Company then has the option of selling the revalued acreage or maintaining a producing interest. This model is commonly used by private equity investors in the sector and has been successfully piloted by Brookside in the northern Anadarko Basin’s STACK Play. Brookside’s US partner and manager of operations, Black Mesa is an experienced mid-continent operator, which identifies opportunities and executes development under a commercial agreement with Brookside. The business model effectively assigns risk and provides commercial incentives to maximise value for both parties. The Company is now set to scale-up its activities and asset base significantly with its operated- interests in the SWISH AOI.

How are you managing with the current COVID-19 pandemic on both business and personal front?
As a team we reacted quickly to the changes that occurred as result of the virus, its impact on global economies and the oil price. Our initial focus was on recasting our budgets to reflect the changed landscape and then we turned our intentions to the opportunities we see that will emerge for us from the disruption caused by the lower oil prices. On a personal front I’m adjusting to life working from home and have taken advantage of some of the great tech for video meeting to stay in touch with the team, shareholders and investors. Healthy eating and some daily exercise help me to stay on top of the challenges that this period is throwing at us.

What’s the most exciting thing about running your business?
I get a massive kick out of interacting with our team on the ground in Oklahoma. Over the last 15 years or so I have established some great associations and friendships in the industry. The opportunities for wealth creation that come from successful execution in the E&P sector is a constant source of motivation for me.

How do you measure success?
From a business perspective, I see execution as a key measure. Once we have developed and agreed as a team on the strategy with planning and getting it done successfully, the value that creates consequently is how I measure success. On a personal front it’s a lot more complicated – but ultimately it comes down to a happy and healthy family and the chance to give my two children the opportunity to gain life experiences and succeed in whatever they chose to do.

What do you think is the most important quality of being a CEO of a listed company?
Communication probably. For me it is the ability to listen to and interpret or read people to understand that point of view. Most if not all successful businesses revolve around people.

What is your favourite book?
I really enjoy Tim Winton’s books – Eyrie is the most recent one I have read. I’m currently reading Titan – the life of John D Rockefeller, the world’s first billionaire.

What message do you want to send to our readership in Asia?
Take the time to understand Brookside’s business model. Even in these challenging times (perhaps more so) our “Real Estate Development” approach to the oil & gas sector will provide our shareholders and new investors with tremendous leverage to an inevitable rise in oil and gas prices as global economies recover and growth is re-established. The human desire for constant improvement is what makes the world tick.

How can people connect with you?
Email:
Brookside Energy Website: http://brookside-energy.com.au/

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Ion Energy is one of the largest exploration license holder in Mongolia for Lithium. Mongolia is one of the most exciting investment opportunities currently available in the world.

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Visit Ion Energy’s website here: https://ionenergy.ca/