Dear Valued Investor Partners,
We are pleased to provide you with an update specifically regarding the Cherokee 9-9 well.
Today marks a significant milestone as we have successfully reactivated the well, now operating at 8 strokes per minute, exclusively powered by the natural gas sourced from the Skinner formation. Notably, we have also recorded high pressures, reaching up to 210 PSI at the wellhead.
Our diligent monitoring indicates that approximately 65-75% of the load water has been effectively removed, and all fluids, including oil, are flowing as planned to the Phase 2 tank battery. Robert, one of our on-site supervisors, has been meticulously collecting oil samples throughout the evening, consistently yielding samples containing up to 100% oil!
We anticipate the complete removal of load water by Friday, enabling us to commence daily gauging of oil production volumes. Early indications suggest that the Skinner formation within the Cherokee 9-9 and other Phase 2 wells mirrors the characteristics of neighbouring Skinner wells, known for their high oil yields and minimal water content.
As always we are committed to keeping you informed and plan to post another portal update by the end of the week, which will include all other Phase 2 well progression.
Best regards,
The ASE Team
