Valued Partners,
Due to challenges in transportation, we are still waiting for the directional tool and a top drive component to arrive on-site. We have been told (on good authority) that the delivery is now scheduled for Thursday of next week. We are scheduled to re-enter the well at 2,830 ft and commence drilling the angled section (at 21 degrees) of the well down to a target depth of approximately 8,400 ft. This work is expected to commence between the 25th and 30th of October (weather permitting). The estimated completion time of drilling operations, including the multi-stage hydraulic fracture and commencement of the flowback phase, is 41-55 days.
McLoughlin (Senior Partner & COO) recorded a video which we believe all ASE investors will enjoy watching. It covers what is driving the current high oil and gas prices, plus the evidence that this new trend has a high probability of continuing for many years to come.
