Dear Valued Investor Partners,
We hope this update finds you well.
In this portal, we will provide you with the latest developments regarding your investment in Phase 2 of the Cherokee project. This update covers current production metrics and our strategic plan to boost oil production.
REVENUE & PRODUCTION SUMMARY
Revenue Distribution
- No revenue distribution to ASE Cherokee Phase 2 LP for this payment cycle
- Current oil production levels were insufficient to cover monthly operational expenses
April Performance
- Oil Production: 134 barrels
- There were 2 days in the month where daily oil production spiked (the highest daily production was 10.2 barrels)
- Oil Sales: 158 barrels (1 truckload)
STRATEGIC DEVELOPMENT PLAN
Project Status
- Currently finalizing the Authority for Expenditure (AFE)
- AFE will detail the total estimated capital required to implement our enhancement strategy
Enhancement Strategy Includes:
- Completion of the Skinner formation in the 3-9 well
- Implementation of an improved waterflood process
- Comprehensive approach to boost overall oil production
Funding Status
- Advanced discussions with our funding partner continue
- Verbal agreement secured to fund the entire scope of work
- Anticipate AFE completion this month
Pathway Forward
- Upon AFE finalization, we will execute formal funding agreements
- Implementation of the enhancement strategy will follow immediately
- We remain confident this approach will significantly increase oil production
ENHANCING YOUR INVESTOR EXPERIENCE
As part of our commitment to continuously improving our service to you, we are introducing two significant enhancements:
1. Alpha Seven Energy Investment Portal Our new investment portal launches at the end of June, offering:
- Comprehensive management of your ASE oil and gas investments/
- Monthly revenue distribution statements (per Limited Partnership) based on your exact ownership percentages
- Centralized document repository for all partnership materials and tax documents
- Access to the ASE secondary market
We will provide a detailed video walkthrough of the portal's functionality upon release. For a preview, please refer to the Lois LP video which demonstrates select features of this game-changing software.
2. Dedicated Investor Relations Support We are delighted to welcome Claudia van Brugge (claudia.v@alphasevenenergy.com) to the ASE Team. As your dedicated Investor Relations Associate, Claudia brings:
- Meticulous attention to detail
- Seamless communication and reporting
- Genuine enthusiasm for financial markets
- Unwavering commitment to exceptional service
COMMUNICATION SCHEDULE
All portal updates will be released on the 10th of each month (or the next business day). This schedule allows us to gather comprehensive and current information for all 15 individual portals.
We remain committed to raising the bar in investor relations and operational excellence. Thank you for your continued partnership.
Best regards,
The ASE Team
