Dear Valued Investor Partners,

Below is a summary of the latest production updates, operational improvements, and potential enhancements for the Boyd Well.

_{Production Update}

• Current Production: The well is producing approximately 3.5 BOPD, with occasional spikes reaching 5–6 BOPD.
• Oil Sales: Under current production levels, the well generates one full load of oil approximately every two months.
• January Sales: Another load of oil was sold in January, contributing to ongoing revenue.

_{Operational Adjustments & Maintenance}

• Well Downtime: Due to inclement weather, the well was offline for six days.
• Post-Downtime Production: Since coming back online, the well has been averaging 4.64 BOPD.
• Lease Operating Expenses (LOE):
  • As reflected in the Settlement Statement (see below), recent LOE costs were due to necessary maintenance and repairs conducted over previous months.
  • These maintenance efforts are critical to ensuring long-term well efficiency and operational stability.
• Timer Adjustment for Longevity:
  • The well is now operating on a 4-hour timer.
  • This adjustment is expected to reduce ongoing repair needs and extend the lifespan of the well's equipment.

Potential Production Enhancement – Acid Stimulation

• This week, we met with OGP, our licensed operator, to discuss the potential of an acid stimulation treatment to enhance production.
• Currently, we are awaiting further information to assess the financial viability of this procedure before making any final decisions.

Further updates will be provided as we receive more details.

‍Best regards,
The ASE Team