We hope this update finds you well.
Below is a summary of recent developments regarding the Cherokee Phase 1 project.
The Cherokee 2-9 well started struggling in the second week of December, experiencing either a possible tubing leak or a pump malfunction. The operations team attempted to reset the pump to shake out any potential buildup, but was unsuccessful.
The well was shut in on December 18th, 2025 and is currently awaiting rig availability to pull the pump and tubing for inspection and repair.
Anticipated Workover Date: Monday, February 16th
T&L Workover Services is scheduled to mobilize to location and perform the following operations:
The acid treatment is being proposed to ensure optimal well productivity when the well is returned to production following the mechanical repairs.
Once the workover operations are completed successfully, we anticipate the well will be returned to production by late February 2026, with flush production expected due to the build-up of oil while the well has been inactive for a period of time.
Our next investor portal update will be released on March 12th, 2026 (US time).
Best regards,
