Dear Valued Investor Partners,
We hope this update finds you well.
Below is a summary of recent developments regarding the Cherokee Phase 1 project.
CURRENT OPERATIONAL STATUS
The Cherokee 2-9 well has resumed production following successful completion of Salt Water Disposal (SWD) pump repairs. The triplex pump was repaired, and the lease was restored to production on July 11th.
July Production Performance:
PLANNED INTERVENTION
Acid Treatment Program: Now that the SWD has been repaired, we can schedule the acid treatment job for the Cherokee 2-9 well. As mentioned in the previous portal, routine acid treatments are common and highly effective for Red Fork formation wells, typically resulting in improved production rates.
Production Performance: Following the SWD repairs, we observed flush production (30 barrels on July 12, 10 barrels on July 13), which helped bring production numbers up despite being down 11 days during the month.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
We are pleased to confirm that every investor has been sent a registration email to set up their individual platform access. You can now access your personalized investment portal via our website by clicking on the "Partner Portal" (located at the top right-hand side of the homepage)and selecting the drop-down box named "My Investment Account".
The new platform provides enhanced features, including real-time access to monthly statements, production reports, tax documents, and comprehensive investment tracking tools designed to improve your overall experience with ASE.
TAX DOCUMENTATION UPDATE
We are pleased to report that the K-1 form for this Limited Partnership has been finalized and is now available for your review. Please access the information via the platform in the "Documents" section. If you have any questions or require assistance navigating the platform, please contact Claudia Brugge at claudia.v@alphasevenenergy.com.
Once again, we sincerely apologize for the delay and any inconvenience this may have caused. The migration of all investors and their holdings to our new investment platform has been a massive undertaking. Moving forward, we are confident this enhanced system will significantly improve your investment experience with ASE and ensure next year's K-1 forms are completed on schedule.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on September 11th (US time).
Best regards,
THE ASE TEAM
