Phase V Valued Partners, There has been some great overall progression made on-site this week, which means we are one step closer to oil production and drilling the Lois 1, which will be followed by the Lois 2 well. Over half of the Phase V investors have other ownership in one or all of the current [...]
Phase IV Valued Partners, The bulk of ASE rig #3 has been moved from the ASE 4 drilling location and is carefully being relocated to drill the Lois 1 well. Unfortunately, this process has been hampered by the water-logged and muddy ground conditions, but as always, we endeavor to complete the task as quickly as [...]
ASE 4 Stimulation Valued Partners, We are pleased to report that all Phase III investors are incredibly close to seeing the ASE 4 enter its official production phase. On Tuesday, our team logged and perforated the ASE 4 well, and prepared the location for Quasar, who has been engaged to perform the sand stimulation on the ASE [...]
ASE 3 Production Valued Partners, All Phase II investors are one step closer to the ASE 3 well coming online and entering into the oil & gas production phase. As explained in a previous portal update, our team of experts decided to perform a sand stimulation/frac on the ASE 4 well first, and then duplicate [...]
Phase I Production Valued Partners, The ASE 1's gas production for the next round of revenue disbursements was 5,947 MCF. This will be the fifth revenue disbursement paid to Phase I investors, and the consistent decline in gas production means we are getting closer to being able to see this well enter into its oil production [...]
Phase V Valued Partners,The ASE rig #3 is currently being dismantled and relocated in preparation for the drilling of the Lois 1. Unfortunately, due to inclement weather, large sections of the lease are waterlogged and extremely boggy, making this process take longer than anticipated, but our team is working as diligently and as safely as possible.With [...]
Phase IV Valued Partners, The ASE rig #3 is currently being dismantled and relocated in preparation for the drilling of the Lois 1. Unfortunately, due to inclement weather, large sections of the lease are waterlogged and extremely boggy, making this process take longer than anticipated, but our team is working as diligently and as safely as [...]
ASE 4 Production Valued Partners,This week we finalized the precise hydraulic fracture design, and Deane Pierce (a registered Petroleum Engineer) has recorded a short video to explain the basics of the design and the process. During this six-minute video, Deane stated that based on this type of fracture height and length, we will see a [...]
ASE 3 Production Valued Partners,This week we finalized the precise hydraulic fracture design, and Deane Pierce (a registered Petroleum Engineer) has recorded a short video to explain the basics of the design and the process. During this six-minute video, Deane stated that based on this type of fracture height and length, we will see a [...]
Phase I Production Valued Partners,Phase I investors were allocated their 4th gas revenue disbursement this week, with an approximate 20% increase in their payment size. This was due to a marginal increase in gas production (total of 8,212 MCF) and an increase in the price of natural gas, which rose by well over 40 cents per MCF.This [...]
