Dear Valued Investor Partners,
We hope this message finds you well. We are excited to share the latest developments on our Cherokee Phase 1 project.
Cherokee 2-9 Well Production Update:
As of Wednesday, June 5th, the Cherokee 2-9 Well has resumed production. The Cherokee 5-9 injection well is now operational, allowing us to reinject the 2-9 well's water back into the Red Fork formation. We anticipate this will enhance the 2-9 well's oil production within the next 3 to 6 months.
As of 2:30 PM CST today, Friday, June 7th, the 2-9 well has produced between 100 to 120 barrels of oil since being reactivated. We expect to have our first load of oil picked up and sold next week, marking a significant milestone as it will be the first sale in quite some time.
We deeply appreciate your patience during the development of Phase 2, which required the 2-9 well to be offline. The positive news is that the oil reserves remain intact, and we are now in a position to extract and sell the oil. This will lead to the resumption of monthly oil distributions.
Upcoming Project Visit:
On Monday the 10th of June, Senior Partners Dylan Knight, Chris Hemsworth and Grant McLoughlin plan to visit our Cherokee lease to review the latest progress. We will share further updates and videos in the first half of next week.
Thank you for your continued support and partnership. Wishing you a wonderful weekend.
Warm regards,
The ASE Team
