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23rd October 2025, Update

October 23, 2025

Dear Valued Investor Partners,

We are excited to share a comprehensive update on the upcoming Lois Anne #1-1 well completion operations.

LOIS ANNE #1 WELL – COMPLETION OPERATIONS COMMENCE TODAY

Current Status: We are pleased to announce that completion operations on the Lois Anne #1 well are commencing today, October 23rd, 2025. The completion rig (St. Louis Well Services) is mobilizing to the location to perforate and test the 1st Wilcox formation.

MANAGEMENT ON-SITE OVERSIGHT

Senior Partner and COO Grant McLoughlin is currently enroute to Dallas and will join Co-founder Dylan Knight for an on-site visit to the ASE Oddfellows oilfield this Friday, October 25th, 2025.

Dylan and Grant will be making three site visits over the next two weeks to personally oversee the completion operations and ensure optimal execution of the well completion program.

Our Commitment: We are highly confident that during this period, we will successfully bring the Lois Anne #1 well into production, with oil flowing into the tanks within the next 1-2 weeks.

COMPLETION OBJECTIVES

The primary objectives for this completion are:

✓ Perforate and test the 1st Wilcox formation for commercial quantities of hydrocarbons

✓ Initial perforation intervals: 4,152' - 4,159' and 4,166' - 4,170'

✓ If productive and flowing, flow into frac tanks and complete operations

✓ If productive but not flowing, implement acid stimulation treatment

✓ If production requires optimization, then look to target Secondary formations, starting with Viola

COMPLETION PROCEDURE HIGHLIGHTS

Phase 1 - Preparation & Perforation (Today):

  • Service rig moving in and rigging up
  • Install blowout preventers (BOPs) and pressure test to 2,500 psi
  • Run casing scraper to total depth and clean wellbore
  • Perforate the 1st Wilcox formation with Arrow WEGO Perforators

Phase 2 - Initial Testing:

  • Install production tubing (2-7/8") and packer at approximately 4,100 feet
  • Conduct an initial flow test to evaluate well performance
  • Monitor oil and gas production rates

Phase 3 - Stimulation (If Required):

  • Spot approximately 200 gallons of 10% acid treatment
  • Allow acid to soak for 15-20 minutes to clean perforations
  • Swab test and re-evaluate well performance

Phase 4 - Completion:

  • If results are positive, finalize well completion and prepare for production
  • If results require optimization, we plan to target the next pay zone

TIMELINE

Today (October 23rd): Completion operations commence

Friday (October 25th): Dylan Knight and Grant McLoughlin on-site visit

Days 1-2: Perforation and initial testing

Days 3-4: Acid treatment and evaluation (if required)

Week 1-2: Final completion and prepare for production

EDUCATIONAL CONTENT - GEOLOGIST VIDEO SERIES

We are pleased to provide exclusive video content documenting this exceptional well discovery.

NEW: Introduction Video - Lois Anne #1 Analysis

This newly released video serves as an introduction to our multi-part series featuring 50-year veteran geologist John Dowds, providing detailed technical analysis of the Lois Anne #1 well. This first video contains highlights and the most compelling clips from his comprehensive presentation.

Coming Soon: Additional videos will be released over the coming weeks, including:

  • Detailed formation-by-formation analysis
  • Real-time completion operations footage
  • Production startup and initial flow results

Also available Now: The remaining 2 videos of the 6-part drilling documentary series capturing the discovery of the 6 hydrocarbon-rich pay zones are available below

NEXT STEPS

We will provide regular updates throughout the completion process. Key milestones to watch for:

Perforation results - Initial indication of formation productivity

Flow test results - Oil and gas production rates

This is an exciting milestone for the ASE Lois LP, and we will update the portal as soon as we have results from the initial perforation and testing.

Best regards,

THE ASE TEAM

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