Dear Valued Investors,
We are delighted to announce the successful completion of all remedial work on the Cherokee 2-9 well.
On November 8th, ASE senior partners Dylan Knight and Grant McLoughlin made the trip out to Payne County, and over the 2 days, they were able to oversee the final stages of these remedial works, accompanied by a handful of investors. All of the last day's action was captured on camera, and we are excited to share a collection of videos that provide you with an up-close view of all the activities.
We are pleased to report that on Thursday the 9th at 5:15 PM (Central US Time), the Cherokee 2-9 well returned to full operational status and is once again in production.
Our on-site team provided us with an update on the morning of November 10th, revealing that over 145 barrels of load water, out of a total of 450, have already been successfully extracted. Furthermore, we are pleased to note an increase in the oil cut, which is an excellent sign at this early stage of flowback.
With the pump jack now operating at seven strokes per minute, we anticipate the removal of the remaining load water within the next 36-48 hours. As mentioned in our previous communication, we expect a surge in production (Flush production) due to the extended period of well inactivity.
Another noteworthy update is the repositioning of the downhole pump. During the remedial works, we strategically moved the pump to a depth of 16 feet below the RedFork formation perforation area. This calculated adjustment, overseen by Bob Pfannenstiel, is aimed at optimizing the well's efficiency.
With the oil already in the tank and the predicted flush production, we anticipate another load of oil becoming available for sale in the days to come.
Video #1 shows the drive on to our Cherokee location and the 2-9 remedial work underway.
Video #2 contains a collection of short videos capturing the final stages of the remedial work.
Video #3 shows the Cherokee 2-9 well being turned back on and powered by the newly installed 3-phase electricity.
Video #4 contains footage of the Cherokee`s SWD (Salt Water Disposal) unit.
We would like to extend our sincere gratitude for your unwavering patience and understanding throughout this process, and we look forward to providing the next update on the Cherokee 2-9`s progression.
Warm regards,
The ASE team
