Dear Valued Investors,
We are delighted to announce the successful completion of all remedial work on the Cherokee 2-9 well.
On November 8th, ASE senior partners Dylan Knight and Grant McLoughlin made the trip out to Payne County, and over the 2 days, they were able to oversee the final stages of these remedial works, accompanied by a handful of investors. All of the last day's action was captured on camera, and we are excited to share a collection of videos that provide you with an up-close view of all the activities.
We are pleased to report that on Thursday the 9th at 5:15 PM (Central US Time), the Cherokee 2-9 well returned to full operational status and is once again in production.
Our on-site team provided us with an update on the morning of November 10th, revealing that over 145 barrels of load water, out of a total of 450, have already been successfully extracted. Furthermore, we are pleased to note an increase in the oil cut, which is an excellent sign at this early stage of flowback.
With the pump jack now operating at seven strokes per minute, we anticipate the removal of the remaining load water within the next 36-48 hours. As mentioned in our previous communication, we expect a surge in production (Flush production) due to the extended period of well inactivity.
Another noteworthy update is the repositioning of the downhole pump. During the remedial works, we strategically moved the pump toa depth of 16 feet below the RedFork formation perforation area. This calculated adjustment, overseen by Bob Pfannenstiel, is aimed at optimizing the well's efficiency.
With the oil already in the tank and the predicted flush production, we anticipate another load of oil becoming available for sale in thedays to come.
Video #1 incorporates 3 videos in one.
Video #2 shows the Cherokee 2-9 well being turned back on and powered by the newly installed 3-phase electricity.
Video #3 contains footage of the Cherokee`s SWD (Salt Water Disposal) unit.
The other videos below are a collection of raw footage taken throughout the final day of our site visit.
We would like to extend our sincere gratitude for your unwavering patience and understanding throughout this process.
Warm regards,
The ASE team
We have officially released the 1st portal for the ASE Cherokee Phase 2 project. Everyone who is invested in this specific phase will receive access in the coming days, so in the meantime here is the 1st Cherokee Phase 2 portal.
Dear Valued Partners,
On November 9th, ASE Senior partners, Dylan Knight and Grant McLoughlin, along with some of our investors (one even travelled all the way from Australia), ventured out to officially stake the location of our upcoming well, the Cherokee 3-9.
Our next stage involves obtaining the necessary drilling permits, followed by the construction of the road, and then the drilling pad. This essential step ensures the safe mobilization of trucks, machinery, and the drilling rig to the Cherokee 3-9 well location.
The concluding video features a short, yet insightful interview with our esteemed Geologist, Bob Pfannenstiel. He shares his enthusiasm for the forthcoming water flood, which is a proven and highly effective strategy designed to maintain pressure, resulting in the recovery of up to 90% of the hydrocarbons that are beneath the ASE Cherokee project/oil field.
Despite some audio interference from the workover rig and wind, Bob reveals valuable insights into the upcoming pressure maintenance/water flood strategy and reflects on his past accomplishments utilising this exact process.
Best regards,
The ASE Team
