Dear Valued Investor Partners,
We hope this update finds you well.
DRILLING UPDATE
Current Status: We are pleased to report significant progress on the Lois Anne 1 well.
Site Preparation Completed: Road and pad construction have been successfully completed, with all site preparation work finalized.
Pre-Drilling Commenced: This week, the rat hole was drilled, and the conductor was set in concrete.
Drilling Timeline: The drilling rig is expected to mobilize and move on-site September 13th-14th, with an anticipated spud date of September 15th, weather dependent.
Regulatory Approvals: All necessary approvals are in place:
Educational Content: We have provided a comprehensive video update detailing the permitting process and this significant regulatory milestone for investors who are interested to learn more about the project development in detail.
MANAGEMENT UPDATE
Strategic On-Site Presence: Senior Partner and COO Grant McLoughlin will be stateside from September 9th for one month, and will be conducting multiple visits to the ASE Oddfellows oilfield with Co-Founders Dylan Knight, and Chris Hemsworth, to capture the action during the drilling and completion process.
STRATEGIC IMPORTANCE
Multi-Zone Targeting: The well target depth is to the Wilcox formation (approximately 4,400 feet) while logging all productive zones to provide comprehensive formation analysis across our field.
Data Integration: This well will provide critical formation data to optimize completion decisions for other wells in our oilfield, ensuring maximum production potential through data-driven decision making.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
For platform access assistance and all other inquiries or investor-related support, please contact Claudia Brugge at claudia.v@alphasevenenergy.com.
UPCOMING COMMUNICATIONS
We will provide multiple portal updates once we commence drilling operations and through the logging and completion phases.
Best regards,
THE ASE TEAM
