Dear valued Investor Partners,
We are pleased to share the latest developments from the Cherokee 2-9 well, which continue to exceed our expectations. As projected in our previous update, the well has demonstrated consistent increases in oil production, delivering an impressive 34 barrels within the last 24 hours.
This week we optimized the well to operate at 7 1/2 strokes per minute. Over the past 48 hours, we have observed an exceptional surge in fluid volume, witnessing the emergence of pure oil flowing up the casing—a highly promising indicator indeed!
Our oil sales this week have totaled 344.02 barrels across two loads. On Tuesday, we sold 173.26 barrels, followed by another load of 170.76 barrels on Thursday.
As we embark on a new month, we eagerly anticipate incremental daily increases in oil output and the commencement of our first full month of production.
Exciting developments are on the horizon, as today Topographic, experts in oil and gas land surveying and staking, will officially initiate the staking process for Phase 2 wells—one of the final steps before receiving our drilling permit.
Senior Partner Dylan Knight will personally oversee this entire process, capturing the unfolding action on-site. Moreover, another one of our investor partners will conduct a comprehensive project inspection. Dylan will provide a guided tour of our expansive 1020-acre oilfield, which will include an up-close look at the Cherokee 2-9 in operation.
We extend a warm invitation to all investors to visit our Cherokee project. It's an opportunity to witness firsthand our innovative plans and roll out the physical maps pinpointing the locations for our upcoming 60 wells.
In recent weeks we have seen increased investor interest in our waterflood/pressure maintenance strategy, anticipated to significantly benefit the Cherokee 2-9. To aid your understanding, we've included two short, yet concise videos that offer insights into this process.
Lastly, we've updated our Cherokee (Red Fork) oilfield development maps with the very latest data. Please download these updated maps below.
We remain committed to transparency and progress, and we look forward to sharing more milestones with you soon.
Warm regards,
The ASE Team
