Dear Valued Investor Partners,
We hope this update finds you well.
As part of your direct investment in ASE Lois LP, here is an update on the current drilled wells and development schedule for the upcoming new wells at the ASE Oddfellows oilfield in Oklahoma.
Carter Reynolds Well (Texas) June Production:
ASE 1 Well - Woodford Formation Opportunity Current Status: The well remains shut-in as we evaluate the opportunity to complete in the Woodford formation, similar to our successful approach with the ASE 2 well. John Downs, our geologist, along with our key technical personnel, unanimously agree this represents the best course of action. Based on superior log data and geological positioning, there is a strong likelihood that ASE 1 could yield even better results than ASE 2.
ASE 2 Well - June Production:
The upgraded pumping system continues to perform excellently. Future enhancements include potential electrical power implementation and timer systems to optimize operational efficiency.
DEVELOPMENT PIPELINE
Lois 1 Well - Strategic Development Decision
We have strategically prioritized gathering comprehensive field data before proceeding with the Lois 1 well completion. Our technical team will await successful recompletion of the ASE 1 well in the Woodford formation and completion of drilling the Lois Anne 1 well before finalizing the Lois 1 completion design. This methodical approach ensures we maximize production potential through data-driven decision making.
Data-Driven Approach: The reason for this methodology is that these data points will enable us to make the most informed completion decision based on our geologist John Downs' extensive experience and technical expertise. With performance data from both the ASE 1 Woodford recompletion and the new Lois Anne 1 well (targeting multiple pay zones), we will have comprehensive formation analysis across multiple productive zones.
Formation Selection Strategy: This comprehensive data collection will allow us to definitively select which formation - whether the Woodford formation or the Booch formation - should be targeted first for the Lois 1 well. We will also be able to determine the exact completion process to optimize oil and gas production based on actual field performance rather than geological projections alone.
Risk Mitigation: By prioritizing this critical data collection, we minimize completion risk and maximize the probability of achieving optimal production rates from the Lois 1 well, ensuring the best possible returns for investors.
Lois Anne 1 Well - Drilling Preparation
Major Progress: AFE finalized for drilling down to the Wilcox formation (~4,400 feet).
Key Milestones:
Strategic Outlook: The Lois Anne 1 well represents a significant milestone in our development strategy, with geological data indicating strong production potential based on surrounding well performance and formation characteristics.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
Moving forward, all monthly statements will be accessible through our new Investment Portfolio Platform. If you have not yet received your registration email, your Limited Partnership is next in our setup queue, with registration emails being sent on a rolling basis. All remaining registrations are expected to be completed by August 18th.
For any questions or assistance with platform access, please contact Claudia Van Brugge at claudia.v@alphasevenenergy.com.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on August 11th (US time).
Best regards,
THE ASE TEAM
