Dear Investor Partners,
We are excited to share another positive update regarding the progress of the hydraulic fracturing procedure for the ASE 2-9 well. The procedure has gone perfectly to plan, and we are pleased to report that all of the data collected indicates that we have virgin bottom hole pressure, or values very close to it. In fact, we have recorded bottom-hole pressures in excess of 1,100 PSI (pounds per square inch).
The RedFork formation has exceeded our expectations, showing good porosity and an increasing oil cut. The confirmation of high levels of bottom-hole pressure further reinforces our confidence in the ASE 2-9 well's performance. We are optimistic that this well will not only meet, but also exceed our initial expectations. This outcome bodes extremely well for the upcoming Phase 2 wells, setting a positive precedent for our ongoing operations and the development of the ASE Cherokee oilfield.
In line with our commitment to transparency and comprehensive reporting, our Geologist, Bob, has prepared a detailed report that outlines the activities conducted over the past few days. You can find the report attached below. Additionally, Bob was present on-site during the hydraulic fracturing procedure to not only oversee the operation but also capture all of the action on camera, providing all of our investor partners with valuable firsthand insight into the entire procedure.
We invite you to view the raw video footage and we will continue to keep you updated on our progress as we move closer to the production phase.
Warm regards,
The Alpha Seven Energy team
