Valued Partners,
Unfortunately, the commencement of the horizontal drilling procedure has been delayed. This is due to multiple factors, which are in part due to COVID-19. The U.S. is facing supply chain issues, and this is affecting the delivery of essential components for ASE rig 303. Once we receive the parts, which are on order, our team will conduct their scope of work and prepare the rig to re-commence drilling operations.
We would like to thank you for your understanding and confirm our commitment to complete this well as quickly as possible while ensuring the highest levels of workmanship and safety.
The outlook for oil is looking extremely bullish with most financial institutions increasing their oil price predictions for this year and 2023. We thought this article would be of interest to our Investor Partners.
Goldman Sachs Sees Oil at $96 This Year
