Dear Valued Investor Partners,
I trust this portal update finds you well and we hope everyone is pleased with the current progression of our Cherokee Phase 2 project.
We are delighted to offer a succinct update on our recent on-site endeavors and provide an overview of the upcoming activities slated for the weeks ahead.
Cherokee 3-9: We are gearing up for the completion stage of our Phase 2 water injection well, scheduled to commence on Tuesday morning.
Cherokee 5-9: Our committed team, led by Bob, Robert and Mark, has been diligently fine-tuning the well in recent days to ensure optimal performance. Meticulously balancing the weights on the pumping unit against the rod string has resulted in a perfectly balanced well. This attention to detail not only minimizes wear and tear on our new engines but also enhances efficiency, yielding maximum strokes per minute with lower RPMs.
As of Thursday, the well has been maintaining a steady 6 1/2 strokes per minute. Additionally, we have stationed a night watchman to monitor the well, and we are encouraged by the early signs of gas, hinting at potential oil production ahead of schedule.
Cherokee 7-9: Exciting updates await next week as we delve into the evaluation of open-hole logs and samples, as well as the completion process for this well which is set to kick off on Monday, April 15th.
Cherokee 9-9: It is full steam ahead, as drilling operations officially commenced for the 9–9 well on Friday evening, and by all reports, we are making solid and steady progress, currently at 194 feet as of 9:35 PM CT, drilling 0.84 feet per minute.
Please note that the time and date of the screenshot that shows the current drilling progression (see below) is AEST where Grant McLoughlin is currently located after returning from the USA yesterday.
Cherokee 8-9: Road and location (drilling pad) construction will commence on Saturday, with drilling expected to commence in approximately one week's time.
Phase 2 Tank Battery: This week, trenching has begun for our flow lines to the 5-9 well. Additionally, preparations are underway for the installation of our new triplex saltwater pump and variable-speed panel box on Monday, pivotal components in efficiently managing produced saltwater from all wells to the 3–9 injection well. We remain on track to complete the tank battery by Thursday.
We sincerely appreciate your ongoing support and trust as we continue to propel progress and unlock the full potential of our Cherokee Phase 2 oilfield. We eagerly anticipate sharing further updates with you soon.
Best Regards,
The ASE Team
