Dear Valued Investor Partners,
We are extremely pleased and proud to share two major achievements with regard to our Phase 2 project;
1. The Cherokee 5-9 well is now officially online.
2. The Cherokee 7-9 well has been successfully drilled to its Target Depth (TD) of 3,250 feet.
On Monday, April 1st, at approximately 5:30 PM, we reached a significant milestone with the commencement of the production phase for our Cherokee 5-9 well. We invite you to witness this momentous occasion through the accompanying video, where Senior Partner Dylan Knight initiates the 5-9 well using our cutting-edge Arrow engine.
In the days ahead, our dedicated team will continue to fine-tune the well meticulously, ensuring optimal performance by making necessary adjustments to the pumping unit. This meticulous process is crucial for seamless operations and maximizing fluid extraction, thereby enhancing our daily output.
We are delighted to report that our Cherokee 7-9 well has reached its Target Depth (TD), marking yet another significant advancement in our project. During drilling, our team took samples from each target zone and observed promising indicators, including a strong odour of oil and a Skinner sample full of oil under UV light. Early indications suggest that we may have encountered all three pay zones - the Red Fork, Skinner, and Prue, with the Red Fork potentially being the thickest we've encountered to date!
As we gather more information and confirm our findings, we will promptly communicate updates via this portal.
Following the successful activation of the 5-9 well, Dylan and Grant have returned to Dallas. Grant is scheduled to depart for Australia today, while Dylan will resume on-site oversight at our Cherokee oilfield starting Monday, April 8th. Rest assured, we remain committed to transparent communication, keeping you informed of all project developments.
We extend our heartfelt congratulations to our Investor Partners on the successful drilling and completion of our Cherokee 5-9 well, marking the inauguration of our first hydrocarbon-producing well in Phase 2.
As we continue on this journey, we remain dedicated to delivering positive outcomes and fostering mutual success. We eagerly anticipate sharing the next positive update from our Cherokee Phase 2 project with you.
Thank you for your unwavering support and partnership.
Warm regards,
The ASE Team
