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 remains shut-in while we complete essential Salt Water Disposal (SWD) pump repairs. This maintenance is required before we can resume normal production operations.
June Production Performance:
PLANNED INTERVENTION
Acid Treatment Program: We have scheduled an acid treatment job for the Cherokee 2-9 well, which will commence immediately following completion of the SWD pump repair. Routine acid treatments are common and highly effective for Red Fork formation wells, typically resulting in improved production rates.
Production Expectations: Prior to the SWD shutdown, the well was averaging approximately 3.5 barrels of oil per day (BOPD). We anticipate the acid treatment will help boost oil production rates once the 2-6 well is back online.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
Moving forward, all monthly statements will be accessible through our new Investment Portfolio Platform. If you have not yet received your registration email, your Limited Partnership is next in our setup queue, with registration emails being sent on a rolling basis. All remaining registrations are expected to be sent by August 18th.
For any questions or assistance with platform access, please contact Claudia Van Brugge at claudia.v@alphasevenenergy.com.
TAX DOCUMENTATION UPDATE
Over the past week, we have begun receiving K-1 forms for each Limited Partnership. Peter, our CFO, is currently conducting comprehensive cross-checking procedures to ensure complete accuracy. We estimate all K-1 forms will be finalized within the next two weeks. We apologize for the delay and any inconvenience this may have caused, and we are implementing measures to ensure next year's K-1 forms are completed on schedule.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on August 11th (US time).
Best regards,
THE ASE TEAM
