Dear Valued Investor Partners,
We hope this portal update finds you keeping well.
Exciting developments are underway at our Cherokee project, with our team engaged in various facets of Phase 2. Here's a snapshot of this week's progress:
Red Fork Formation: The Cherokee 5-9 well underwent successful perforation and acidization in the Red Fork formation, executing according to plan.
Tank Battery Construction: Construction has commenced on the tank battery for Phase 2, laying the groundwork for enhanced operational capacity.
Well Preparations: Preparations for the Cherokee 7-9 well, including road construction, have kicked off, positioning us for the next stage of drilling.
Looking ahead to the upcoming week, Dylan Knight and Grant McLoughlin will be in Payne County, overseeing the following activities:
Skinner Formation: Perforation and acidization of the Skinner formation on the Cherokee 5-9 well are scheduled.
Drilling Preparations: All pre-drilling tasks for the upcoming 7-9 well will be finalized, with drilling scheduled to begin between March 21st and 25th.
Continued Tank Battery Construction: Progress will continue on Phase 2 tank battery construction, further advancing our future operational capabilities.
Following the completion of the Skinner formation, we anticipate commencing dual production with the Red Fork in the next 7-10 days.
Once the drilling rig is mobilized to the Phase 2 location, we plan to conduct sequential drilling of all remaining Phase 2 wells, with our completion team working in tandem to maximize efficiency.
As always we are committed to providing regular updates through our investor portal, ensuring transparency and keeping you informed at every stage of these exciting developments.
Best regards,
The ASE Team
