Valued Partners,
Since our previous portal update, there has been limited activity on site due to waiting for parts to arrive for ASE rig 303, and other components required for the commencement of the horizontal phase of our drilling program.
Unfortunately, with many parts of the U.S. experiencing heavy snow and sub-freezing temperatures, there is a high probability of these delays lasting a few more weeks. That being said, we are committed to ensuring we can expedite the period in which we take receipt of the essential parts/components, and complete the ASE 5-1H well.
With most experts predicting WTI to rise to above $100 per barrel in Q2-3, we at Alpha Seven Energy feel very confident that the higher oil prices will assist in offsetting the current delays, and potentially boost investor returns.
