Dear Valued Investor Partners,
We hope this update finds you well.
In this portal, we will provide you with the latest developments regarding your ownership in Phase 2 of the Cherokee project.
July Production Performance:
STRATEGIC DEVELOPMENT PLAN UPDATE
Enhanced Water Injection Strategy: We are still in talks with an adjoining operator who is currently disposing of 400-500 barrels of water per day from their wells. We are hopeful to have a commercial agreement in place in the near term, as this agreement will benefit both parties. As mentioned previously, our plan involves laying a connecting pipeline from their wells to our injection well, with the strategy to substantially increase both pressure and water volumes into the Skinner formation, resulting in improved rates of oil production.
Production Performance: Following the SWD repairs on July 11th, we observed flush production (20 barrels on July 12, 15 barrels on July 13), which helped bring production numbers up despite being down 11 days during the month.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
We are pleased to confirm that every investor has been sent a registration email to set up their individual platform access. You can now access your personalized investment portal via our website by clicking on the "Partner Portal" (located at the top right-hand side of the homepage)and selecting the drop-down box named "My Investment Account".
The new platform provides enhanced features, including real-time access to monthly statements, production reports, tax documents, and comprehensive investment tracking tools designed to improve your overall experience with ASE.
TAX DOCUMENTATION UPDATE
We are pleased to report that the K-1 form for this Limited Partnership has been finalized and is now available for your review. Please access the information via the platform in the "Documents" section.
If you have any questions or require assistance navigating the platform, please contact Claudia Brugge at claudia.v@alphasevenenergy.com.
Once again, we sincerely apologize for the delay and any inconvenience this may have caused. The migration of all investors and their holdings to our new investment platform has been a massive undertaking. Moving forward, we are confident this enhanced system will significantly improve your investment experience with ASE and ensure next year's K-1 forms are completed on schedule.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on September 11th (US time).
Best regards,
THE ASE TEAM
