Dear Valued Investor Partners,
We hope this update finds you well.
PORTAL UPDATE REMINDER
As investors have direct access to their monthly statements via the investor platform and receive automatic notifications when statements are posted, the monthly portals will no longer duplicate this financial information.
Moving forward, portal updates will be issued only when:
- Specific operational activities are occurring on your project well(s)
- Important project milestones are achieved
- Additional details or context need to be provided beyond the standard monthly statements
This streamlined approach ensures that portal communications remain focused on meaningful updates and project developments, while your financial statements remain readily accessible through your investor platform account.
ASE 1 WELL - AWAITING ASE 4 DISPOSAL CONVERSION
Production Status: Temporarily shut-in during November, awaiting scheduled workover.
Strategic Opportunity - Three Pay zone Co-Mingled Production
Completion Plan:
- Commingle with the Hunton, Woodford and Booch formations for three-pay zone production
- Pump produced water to ASE 4 for disposal
- Enable profitable pumping from all three formations simultaneously
November Equipment Optimization
Strategic Pumping Unit Reallocation:
- Purpose: Preparation for commingled Hunton, Woodford, and Booch production
- Timing: Operations scheduled pending ASE 4 conversion to disposal well
Regulatory Progress - ASE 4 Disposal Permit
Oklahoma Corporation Commission (OCC) Filing:
- Permit filed for conversion to saltwater disposal well
- Application No. 2601100401 opened by UIC department
- Comprehensive documentation submitted to Underground Injection Control (UIC) department
Submitted Documentation:
- Wireline logs
- Water samples
- Proposed wellbore schematic
- Supporting technical information for disposal permit review
Timeline: Awaiting permit approval to commence ASE 1 workover operations.
ASE 2 WELL - CONTINUED STRONG PRODUCTION PERFORMANCE
Production Status: Producing with sustained strong performance following October optimization.
November 2025 Production
Production Results:
- Oil: 354.87 barrels
- Gas: 1,256 MCF
- Water: 156.98 barrels
- Average: Approximately 11.6 BOPD and 41 MCFPD
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Sustained Optimization Success
The September pressure valve adjustment (reducing separator pressure from 60 PSI to approximately 40 PSI) continues delivering excellent results:
Performance Improvements:
- Gas volumes sustaining in high 40s MCF per day range
- Oil production maintaining approximately 12 BOPD average
- November oil production up approximately 82% compared to pre-optimization September levels
November Operational Activities
Routine Maintenance Completed:
- Belts and spark plugs replaced on pumping unit engine
- Well continuing to produce at optimized levels with no operational issues
The well continues performing at these enhanced production levels, demonstrating the lasting impact of the October optimization work.
Best regards,
THE ASE TEAM
