Dear Valued Investor Partners,
We hope this update finds you well. Our Senior Partner & Co-Founder, Dylan Knight, has been on-site in Payne County since Friday, the 1st of December. He's been deeply involved in overseeing crucial aspects of our ongoing operations and is committed to being present on-site until the week's end.
Thus far, Dylan and our drilling partner have actively managed the staking of the 3-9, 4-9, 5-9, and 6-9 areas by Topographic. Additionally, he had the opportunity to meet with a Phase 1 investor who flew in for a site inspection. For the remaining duration, Dylan will be personally involved in every stage of the road and construction planning phase. We feel it is extremely important that an ASE partner is present at every major milestone and also provides oversight during each phase of the development process.
Regarding the upcoming Phase 2, while we are yet to confirm the exact location of the 5th well, we will be diligently analyzing drilling data from the upcoming wells. Our aim is to select the most optimal location for maximum efficiency and yield.
An exciting development in Phase 2 is the commencement of drilling in early January with the first well being an injection well. This strategic move not only enhances the probability of extracting maximum hydrocarbon volumes from Phase 2 but also significantly impacts the Cherokee 2-9, which further highlights why we thought it prudent to share this information via the Phase 1 portal.
In line with our commitment to transparency, Dylan has been actively documenting and capturing the progress and developments of Phase 2. He has also conducted an oil sample test at the Cherokee 2-9, demonstrating a high percentage of quality oil.
We are pleased to share these advancements with you and invite you to view the videos capturing our progress. Expect more updates to follow by the end of the week.
Warm Regards,
The ASE Team
