The company is targeting opportunities in the energy sector created by the slump in oil prices.

Brookside said that its first investment since the company was recapitalised out of Red Fork Energy, was being taken with Black Mesa's experienced management team, which will own 50%, and the Tulsa Equity Group (35%).

The management team is described as "accomplished oil and gas professionals across key disciplines of land, finance, operations and reservoir engineering".

Black Mesa executing a returns-based, disciplined strategy directed at both the acquisition of producing properties and lower-risk development drilling opportunities

Brookside managing director David Prentice has also been appointed to the board of Black Mesa.

The Black Mesa team has already begun to review potential acquisition and development opportunities.

Brookside and the Tulsa group have already committed $US3.126 million ($A4.26 million), with the Perth-based junior putting in around $A1.2 million.

"Brookside's acquisition of this interest in Black Mesa is consistent with the portfolio approach of acquiring and developing producing oil and gas properties as well as lower-risk development drilling opportunities," the company said this morning.

It said the acquisitions compliment Brookside's remaining leases in Oklahoma.

"We are excited about this opportunity and are very confident that the quality, experience and extensive industry contacts of the Black Mesa team and the equity group will attract exciting development and acquisition opportunities," Prentice said.

"We think the timing in the commodity price cycle is creating a very significant opportunity and we are pleased to have exposure to this opportunity through our investment in Black Mesa."

The investment in Black Mesa comes after the company had indicated it may look outside the energy sector.