Dear Valued Investor Partners,

We hope this update finds you in high spirits and good health.

In this investor portal release, we aim to provide you with the most recent information regarding the Boyd well, along with some operational changes.

Following the successful completion of all necessary remedial works some time ago, we are pleased to report that the Boyd well is continuing to operate at optimal efficiency, akin to a well-oiled machine. As anticipated, post the initial flush production phase, the well has stabilized, currently yielding between 4-5 barrels of oil per day (Bopd), equivalent to approximately a truckload every 4-5 weeks.

We feel it is important to manage expectations, acknowledging that there might be a month when no oil is picked up and sold due to the oil purchaser's full-load picked requirement.

In March, we transitioned the operational responsibilities of the Boyd well to OGP Operating, a distinguished subsidiary of OGP Energy. With over three decades of experience in managing wells across Texas, Oklahoma, Arkansas, and Alabama, and a production rate exceeding 9,000 BOE/D, OGP Operating embodies a seasoned and reliable oil and gas operator.  Furthermore, our +2-year relationship with OGP instilled confidence in our decision to entrust them with the operations of the Boyd well, a move we believe serves the best interests of all stakeholders.

From an operational standpoint, the transition has been seamless, with the primary changes impacting our investor partners being the timing of revenue distributions and the statements which are emailed out.  We do anticipate the monthly statements recommencing in June.

Thank you for your patience and understanding during this short transition period and there will be another update in June.

Warm regards,
The ASE Team

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