Dear Valued Investor Partners,
We hope this latest update from the Cherokee Phase 2 project finds you well.
Cherokee 2-9 Production Update
- June Sales: Sold 3 loads (1 full load & 2 part-loads) totaling 370 barrels of oil to our purchaser, Emmaus Energy.
- Payment Schedule: Revenue distributions from June's oil production will be paid in August. July's production will be paid in September, continuing every month (based on oil sales).
Current Production
- Output: Current production is between 10 - 12 barrels of oil per day (BOPD).
- Future Outlook: We anticipate that the 5-9 water injection well will positively impact production once the injected water reaches the 2-9 well.
We will continue to monitor production closely and keep you informed of any developments.
Please see the short video below. It was recorded by David, one of our field superintendents. While he is not fully proficient with video recording on his mobile device, we felt it was worth sharing.
Best regards,
The ASE Team
