Dear Investor Partners,
We are pleased to announce a major achievement in our Cherokee project! The Cherokee 2-9 well has been operating seamlessly since Friday afternoon (Oklahoma time), marking a significant milestone in our project's progress.
Here's a brief technical overview detailing the well setup and advancements:
- The 2-9 well commenced operations with a pumping rate of 6 strokes per minute, aiming for optimal downhole efficiency. This rate was expected to yield a total recoverable fluid volume of 135 barrels within a 24-hour period, and currently, we are recovering approximately 120 barrels.
- Our dedicated team has been on-site 24/7 since Friday, closely monitoring the well, conducting gauging, and fine-tuning its performance.
- Most recently, we have increased the pump speed to 6.5 strokes per minute, with plans to gradually elevate it to 7-8 strokes per minute for enhanced productivity.
- We estimate that the flowback phase may extend for another 6-7 days. As we gradually remove the load water, we anticipate a notable rise in the oil cut, enhancing the oil-to-water ratio.
- The well has now started to produce gas through the separator, which at this early stage of flowback was unexpected, yet an excellent sign that has added to the growing excitement around this project!
In the coming week, Chris Hemsworth and Dylan Knight are scheduled for a site inspection. During their visit, they intend to document the oil cut samples, marking a significant milestone as we prepare to enter the oil production phase.
We eagerly await the opportunity to share further insights and videos with you later this week.
Warm regards,
The Alpha Seven Energy team
