Dear Valued Investor Partners,
We hope this update from our Cherokee Phase 1 project finds you well.
The Cherokee 2-9 well continues to produce steady, commercial quantities of oil, with 162 barrels sold in August.
During a recent review, we identified an error by the oil purchaser in June, where a truckload from the Phase 2 wells was incorrectly reported under the Cherokee 2-9 well (Phase 1). As a result, August revenue was used to reimburse the Phase 2 Limited Partnership. Fortunately, such errors from the purchaser are rare, and we will maintain thorough reviews to prevent similar issues in the future.
Please find the "August Settlement Statement" attached below for your records.
We will continue to provide updates on our progress in approximately four weeks.
Best regards,
The Alpha Seven Energy Team
