Dear Valued Investor Partners,
We hope this message finds you well.
In the latest Phase 1 portal, we are pleased to share an exciting update: the Cherokee 2-9 is now back online and in the production phase.
After a prolonged pause, we are thrilled to report that the Cherokee 2-9 is operating smoothly and efficiently, pumping fluids into the Phase 1 tank battery. We extend our heartfelt thanks to all our Phase 1 investor partners for their patience and understanding.
We are excited not only to see Phase 1 oil production flowing into the tanks but also to witness the positive impact of our water flood/pressure maintenance program on production volumes.
We have established flow lines to the 5-9 injection well, and the water produced from Cherokee 2-9 will be the first to test this well. Please note that all water from Phase 2 wells will also be injected into Cherokee 5-9. To monitor the pressure maintenance's effect, we will add a natural red dye to the water, enabling us to track when each well is influenced.
Based on our research, we anticipate a substantial increase in each well's production rate once fully influenced by the injected water. This of course will be the most effective indicator of the success of our waterflood/pressure maintenance program.
Thank you once again for your patience and support. We will provide further updates in the coming weeks. Additionally, Dylan Knight and Grant McLoughlin are planning a visit to Payne County next week, so expect more updates and videos to follow.
Best regards,
The ASE Team
