Dear Valued Investor Partners,
We hope this update finds you well. In this portal, we aim to provide a comprehensive overview of the development and progress of key ASE projects, all of which are set to positively impact our investors in the ASE Mesa Vista Phase 3 LP.
We’re pleased to confirm the successful closing of the first 50% of the Parker Fee leases and wells. We are currently raising capital to acquire the remaining 50%, and we’ are encouraged by growing interest from new investors, driven by our refined marketing strategy.
It remains our intention to allocate working interest in Parker Fee to Mesa Vista Phase 3 investors. However, this allocation will be completed after we raise the remaining capital for the second half of the asset. The delay is due to additional costs incurred during the sales and marketing process, which required us to sell a portion of ASE’s working interest.
Simply put, the faster we secure the funds for the remaining 50%, the more working interest we can allocate to Mesa Vista Phase 3 LP investors. If any current investors have friends or family interested in securing direct ownership in Parker Fee, it would create a win-win scenario. This project presents one of the strongest risk vs. reward opportunities ASE has ever offered, backed by solid cash flow. Not only would it benefit new investors, but it would also accelerate progress, directly benefiting you as an investor.
As many of you are aware, MXP impacted another ASE project in Seminole County, Oklahoma. After a prolonged legal battle, we successfully regained control of the asset and wells, which include multiple drilling locations for new wells.
Since retaking control, we’ve been collaborating closely with our new project geologist, whose insights are encouraging. He has identified a significant presence of Woodford shale on our lease, meaning there are now up to four hydrocarbon-rich pay zones that we can tap into for oil and gas extraction.
To emphasize the potential, our ASE 3 well—the best-performing well so far—produced approximately 180 barrels of oil per day (BOPD) at peak, and this was from the Booch formation alone (one of the four available pay zones).
Our goal is to begin drilling new wells in Seminole County in 2025, and we plan to allocate substantial working interest in these wells to Mesa Vista Phase 3 investors.
In the coming months, we will be better positioned to provide more detailed timelines and updates. Please know that bringing all our investors into monthly revenue is our top priority. In the medium term, we aim to increase returns on your investments and continue building momentum across all ASE projects.
On behalf of the entire ASE team, we sincerely thank you for your patience, understanding, and continued trust.
Best regards,
The Alpha Seven Energy Team
