Dear Valued Investor Partners,
We are pleased to announce that the Lois Anne #1-1 well has been successfully completed and is now producing commercial quantities of oil from the 1st Wilcox formation. This marks a significant milestone for the ASE Lois LP and validates our geological analysis of the ASE Oddfellows Oilfield in Seminole County, Oklahoma.
This update includes two videos capturing operations between October 27th and 31st, including the pumping unit installation and the official moment when we brought the well into production.
Executive Team On-Site: On October 31st, Senior Partners Chris Hemsworth, Dylan Knight, Peter Fagan, and Grant McLoughlin were on location to witness this exciting milestone as the Lois Anne #1-1 well officially came online.
OCTOBER 23RD - PERFORATION COMPLETE
The well was successfully perforated in two intervals within the 1st Wilcox formation:
Production tubing with the packer was installed and set, preparing the well for stimulation treatments.
OCTOBER 24-29TH - ACID STIMULATION PROGRAM
Over the following week, our completion team conducted a series of four carefully designed acid treatments to clean the perforations and enhance formation flow. These treatments were performed by Wallace Acid-Frac and St. Louis Well Services.
Key Observations During Completion:
OCTOBER 30TH - FINAL WELL CONFIGURATION
The completion team installed the permanent production equipment:
OCTOBER 31ST - PUMPING UNIT INSTALLED & WELL NOW IN PRODUCTION
On October 31st, 2025, the 228 pumping unit was installed, and the Lois Anne #1-1 well officially entered the production phase. Please note, the well during this early stage is recovering the load water used in the acid treatment processes, and we are also dialing in the well, which can involve repositioning the downhole pump to optimize oil production.
Initial Production Results:
UNDERSTANDING THESE RESULTS: The 22% oil cut from the Wilcox formation represents an excellent early result, particularly as the well is still recovering load water (treatment fluids) used during completion operations. As we continue removing the remaining load water and optimizing the well, we expect the oil percentage to improve significantly—potentially up to 70%. At a conservative estimate, we believe the oil cut should return to at least 30%, which we observed consistently throughout the swabbing process. We estimate it will take approximately one additional week before we can establish a reliable and official daily IP (Initial Production) rate.
SALTWATER DISPOSAL WELL PERMITTING: The permitting process for our saltwater disposal (SWD) well is progressing well. This facility will allow us to efficiently handle produced water from our operations, supporting long-term field development.
NEXT WELLS INLINE - LOIS ANNE #2-1 & #3-1: We are currently working through the permitting process for the next two wells in the ASE Lois LP drilling program. Our goal is to have permits approved to begin drilling operations in the next 4-5 weeks.
IMMEDIATE FOCUS:
UPCOMING OPERATIONS:
UPCOMING PORTAL RELEASES: We will continue to provide regular portal updates as production is optimized and we prepare for the next wells to be drilled.
Best regards,
THE ASE TEAM
