Dear Valued Investor Partners,
ASE Lois LP — Operations Update
After some delays due to inclement weather, we are pleased to report that major progress is now underway at the ASE Oddfellows oilfield.
Lois Anne 2-1 — Frac Completion & Production Strategy
The Lois Anne 2-1 has been successfully fracked. In our previous portal update, we indicated that we were planning to perforate and produce from the Booch zone. However, following further consultation with several of John Dowds' geologist peers and industry experts who reviewed the log, the consensus was clear: this is an exceptional looking well, and the recommended approach is to conduct a specialized acid frac using salt, targeting the Viola formation.
Over the next few days we will be swabbing the well and assessing whether we will produce exclusively from the Viola or potentially combine production with the Booch.
Lois Anne 4-1 — Drilling Commencement
The drilling rig is currently being set up on the Lois Anne 4-1 location, with spudding due to commence tomorrow morning.
Surface Facilities — Battery Tanks Build-Out
We have also commenced construction of the battery tank facilities for the new wells. We plan to have everything fully set up and operational in the coming weeks, ready to handle both oil and gas production as the wells are brought online.
On-Site Visit by Senior Partners
Senior Partners Dylan Knight and Grant McLoughlin will be travelling to Seminole County and staying for 2–3 days to capture the drilling activities at the Lois Anne 4-1, as well as the swabbing operations on the Lois Anne 2-1. Further investor portal updates will follow shortly thereafter.
Best regards,
THE ASE TEAM
