Dear Valued Investor Partners,
We hope this update finds you well.
In August, one truckload of oil was sold. During a recent review, we identified an error by the oil purchaser in June, where a truckload from the Phase 2 wells was mistakenly recorded under the Cherokee 2-9 well (Phase 1). As a result, the attached August "Settlement Statement" includes a correction showing an additional truckload of oil sold (dated June) to adjust for this reporting error.
As mentioned in our previous update, we are actively working to increase oil production, with several initiatives underway to support this goal. We have included a detailed geological report from our geologist, Bob Pfannenstiel, on the Skinner water injection process and its potential to significantly boost production rates.
Please note that both the "Settlement Statement" and the geological report are included in a single attachment due to the portal's single-file upload limit.
We will continue to keep you informed, with our next update scheduled in approximately four weeks.
Best regards,
The Alpha Seven Energy Team
