Dear Valued Investor Partners,
We hope everyone is keeping well.
In today's portal, we are pleased to share significant progress from the field, with regards to drilling the 2nd well in Phase 2, the Cherokee 5-9 well.
On Wednesday evening we commenced drilling operations and currently, we are now nearing its targeted depth, with only 600ft remaining until Total Depth (TD) is reached. Progress thus far has been steady, adhering closely to our operational plan, and we anticipate logging procedures to commence as scheduled this Saturday.
Building upon the success observed in the Cherokee 3-9 well, we have made a strategic decision to prioritize the 5-9 well over the previously planned 4-9 well. A recent analysis of the Cherokee 3-9 well log has uncovered a high-value discovery: the presence of a third formation, aptly named the Prue. This revelation brings the total count of individual hydrocarbon-bearing pay zones to three, comprising approximately 40 feet of Red Fork, 12 feet of Skinner, and around 50 feet of Prue formation.
In light of this newfound data, our team is recalibrating our strategic approach, as we intend to reposition both the 4-9 and 6-9 wells to optimize the probability of tapping into all three of these hydrocarbon-rich pay zones.
Furthermore, we are pleased to inform you that all three zones exhibit compatibility, allowing for simultaneous production, so known as co-mingling—a strategy poised to maximize our oil and gas production rates.
Late Friday evening, Dylan Knight, alongside Troy (our contracted drone pilot), arrived on-site to capture aerial footage of the Phase 2 operations. They will return in the morning to capture all of the action, including a flyover to the forthcoming Phase 3 (5-well pod) location. Additionally, they will document the logging process of the 5-9 well, providing valuable visual insights into our ongoing operations.
As always, we remain committed to keeping you informed and engaged. Expect more detailed updates, including video footage, in the forthcoming portal communications.
Have a fantastic weekend!
Best Regards,
The Alpha Seven Energy Team
