In early November 2022, ASE and our project drilling partner secured the NE Yale Skinner Waterflood Unit. There are up to 4 individual hydrocarbon-rich payzones, with the primary target zone (RedFork) being one of the most prolific zones in the surrounding area.

Some of the earliest wells were drilled and completed in the early 1950s, prior to the new logging, fracing, and completion techniques being developed in the industry.

It is ASE’s strategy to develop what has now been established as a substantial oilfield by offsetting and stepping out from existing wells, thus mitigating risk and maximizing the EUR (Estimated Ultimate Recovery) of oil and gas.

The ASE Cherokee 3-9 well (phase 2) is scheduled to commence pre-drilling preparation in October and the commencement of drilling is planned in November 2023.