Dear Valued Investor Partners,
We hope this update finds you well.
Below is a comprehensive summary of recent developments across all wells in the ASE Lois LP.
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ASE 1 WELL – WOODFORD FORMATION RECOMPLETION
Following extensive evaluation and preparation, we successfully completed the Woodford formation recompletion on the ASE 1 well. The operation involved comprehensive testing of multiple formations:
Technical Operations Completed:
Current Status: The well shows promising hydrocarbon indicators and sufficient casinghead gas to power the engine. However, we are addressing fluid recovery challenges suspected to be related to downhole pump issues.
August Production Performance:
Immediate Actions: Pump inspection and replacement (if required) are scheduled within the next 7-10 days to address mechanical problems and optimize the well for increased and more consistent oil and gas production.
ASE 2 WELL – AUGUST PRODUCTION PERFORMANCE
Production Summary:
Operations Update: The well continues producing as expected with no operational issues. Recent equipment upgrades continue to perform well, maintaining stable production rates.
CARTER REYNOLDS WELL UPDATE
August Production Performance:
Operational Status: The well continues producing as expected with consistent performance throughout August. All systems are operating within normal parameters with no major interventions required at this time.
LOIS ANNE 1 WELL – DRILLING UPDATE
Current Status: We are pleased to report significant progress on the Lois Anne 1 well.
Site Preparation Completed: Road and pad construction have been successfully completed, with all site preparation work finalized.
Pre-Drilling Commenced: This week, the rat hole was drilled, and the conductor was set in concrete.
Drilling Timeline: The drilling rig is expected to mobilize and move on-site September 13th-14th, with an anticipated spud date of September 15th, weather dependent.
Regulatory Approvals: All necessary approvals are in place:
Educational Content: We have provded a comprehensive video update detailing the permitting process and this significant regulatory milestone for investors who are interested to learn more about the project development in detail.
MANAGEMENT UPDATE
Strategic On-Site Presence: Senior Partner and COO Grant McLoughlin will be stateside from September 9th for one month, and will be conducting multiple visits to the ASE Oddfellows oilfield with Co-Founders Dylan Knight, and Chris Hemsworth, to capture the action during the drilling and completion process.
STRATEGIC IMPORTANCE
Multi-Zone Targeting: The Lois Anne 1 well target depth is to the Wilcox formation (approximately 4,400 feet) while logging all productive zones to provide comprehensive formation analysis across our field.
Data Integration: This well will provide critical formation data to optimize completion decisions for the other 5 wells (to be drilled) within the ASE Lois LP, ensuring maximum production potential through data-driven decision making.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
For platform access assistance and all other inquiries or investor-related support, please contact Claudia Brugge at claudia.v@alphasevenenergy.com.
UPCOMING COMMUNICATIONS
We will provide multiple portal updates once we commence drilling operations and through the logging and completion phases.
Best regards,
THE ASE TEAM
