Dear Investor Partners,

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We are very pleased to report that at the current rate of penetration, the Cherokee 1-9 well will be drilled in record time. In fact, it is on track to be the quickest well drilled in ASE's history (over 6 years).Based on our current rate of progress, we are on course to hit TD on Friday night/Saturday morning.As of 5PM (Central Time) we are just over 2,500 ft beneath the ground and everything is running better than anticipated.