Dear Valued Investor Partners,
We are extremely pleased to share another positive update regarding the development of the ASE Cherokee Phase 2 project. The Cherokee 5–9 well hit three Hydrocarbon pay zones, just like the 3-9 well!
The Cherokee 5–9 well was successfully drilled over the weekend and logging operations were conducted. Our initial analysis of the logs reveals exceptionally promising news - we have encountered three distinct hydrocarbon pay zones, mirroring the formations found in the Cherokee 3–9 well: Redfork, Skinner, and Prue.
Early assessments of the well indicate the Red Fork formation to be approximately 38 feet in thickness, with approximately 50 feet of Prue, of which an estimated 14 feet appears to be highly productive. Moreover, the Skinner formation registers approximately 14 feet in thickness, showing a noteworthy increase of 2 feet when compared to the 3–9 well.
Throughout the drilling and logging process, Dylan Knight has been overseeing operations, capturing some captivating moments on camera and offering valuable insights into the remaining Phase 2 wells.
The second video contains some spectacular drone footage of the Cherokee 3-9 well being drilled, while Dylan provides the very latest project update.
We extend our appreciation for your continued support and partnership, and we look forward to providing more exciting developments early next week.
Best Regards,
The ASE Team
