Dear Valued Investor Partners,
We trust this Portal finds you well and enjoying your Easter weekend.
In this update, we are pleased to share the latest developments from our Cherokee Phase 2 project, reflecting our steadfast commitment to progress and success.
Cherokee 5-9 Dual Production Schedule:
Exciting progress was achieved on Friday, March 29th, as our 6-cylinder Arrow engine was seamlessly installed and secured onto our Cherokee 5-9 well pumping unit. Additionally, the "160" pumping unit is positioned and poised for connection to the polished rod on Monday, April 1st.
We are also eagerly preparing to enhance production capability by upgrading the downhole pump, scheduled for Monday morning. This upgrade will enable the 5-9 well to handle larger volumes of fluid per day (up to 185 barrels of total fluid) a significant advancement in our operations. With an estimated completion time of 3 to 4 hours, this process is the final step towards achieving dual production from the Skinner and Red Fork formations, which we anticipate witnessing this milestone by Monday afternoon, marking a significant achievement in our Phase 2 oilfield development.
Cherokee 7-9 Well:
On the morning of Friday, March 29th, Bob Pounds Drilling Company, commenced drilling operations at our Cherokee 7-9 well location. With drilling underway and progress steadily advancing, we are on track to reach our 3,325ft Target Depth on Thursday, April 4th. We invite you to experience the pre-drilling and drilling action through the videos (see below) captured during Friday`s and Saturday's site visit by Dylan Knight and Grant McLoughlin.
Cherokee 9-9 Well Preparations:
Preparations for our Cherokee 9-9 well are well underway, reflecting our dedication to operational excellence. Progress on the road from Cherokee 5-9 to 9-9 is proceeding smoothly, with the gate set for completion on Monday, April 1st. Subsequent construction milestones, including road and drilling pad completion, are targeted for Friday 4th-Saturday 5th of April. These preparations are vital for facilitating the seamless mobilization of Bob Pounds Drilling rig to the 9-9 location.
Flow Lines:
After a short delay, on Wednesday we are scheduled to commence trenching operations from the Phase 2 tank battery facilities to the 5-9 well, underscoring our commitment to efficient and effective infrastructure development.
Tank Battery Facilities:
As our field team diligently works towards completion, as we are due to receive delivery of a new 250-barrel capacity oil tank on Monday, April 1st. With each installation and facility development, we are dedicated to keeping you abreast of our progress.
We invite you to take a moment to watch the latest videos showcasing the Cherokee Phase 2 progression made over the past few days. Especially to find out the current drilling depth of the 7-9 well as of 2:28PM (US CT) today!
Thank you for your unwavering support and partnership.
Warm regards,
The ASE Team
