Dear Valued Investor Partners,
We hope this correspondence finds you well.
We are pleased to inform you that significant progress has been made this week regarding our combined Phase 1 & 2 tank battery. All essential tanks, equipment, and connections have been successfully delivered, and our dedicated on-site team is diligently preparing the ground for the permanent installation of the oil and gas processing and storage facility.
On Wednesday afternoon, Indian Electric is scheduled to install the new 3-phase power supply to the tank battery facility.
As previously communicated, the Phase 2 pressure maintenance program holds great promise for enhancing the performance of the Cherokee 2-9 well. With two Phase 2 wells already drilled and drilling operations set to resume next week, we are steadily progressing toward the commencement of the pressure maintenance program. Our plan is to initiate the program once all wells are drilled and the Prue formation has been perforated, facilitating the injection of makeup water into the 3-9 water injection well.
We are deeply committed to expediting all necessary steps to facilitate the re-entry of the 2-9 well into production and to optimize the outcomes of the pressure maintenance program.
We sincerely appreciate your continued patience and understanding
Warm regards,
The ASE Team
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