Dear Investor Partners,
We hope this message finds you well. We would like to provide you with important updates on our projects.
The Mesa Vista project is still in a holding pattern, and we will keep you informed of any developments as they arise.
On a more positive note, we are thrilled to share an important update regarding the Cherokee project. Our dedicated drilling team has been diligently preparing the well pad, and we are delighted to announce that we are scheduled to mobilize the drilling rig on the 10th of July. Please note, the rig mobilization was due on the 6th of July, yet due to torrential rain over the past few days, this has been pushed back as we wait for drier ground conditions prior to safely moving the rig into position.
To ensure you can actively experience the entire drilling process, we will be providing all investors with their portal logins this week. This will�you exclusive access to experience the excitement and progress first-hand.
Our plan for the project involves drilling pods of 6 wells and incorporating a waterflood technique. This approach is designed to maintain pressure and extract a significantly higher volume of hydrocarbons, potentially up to 100% more. It is important to note that since the wells will utilize a shared, oversized tank battery, ASE has decided to allocate a certain percentage of the revenue derived from all 6 wells to all Mesa Vista Phase 3 investors. This ensures that all stakeholders can benefit from the success of the project.
Additionally, in the coming weeks, we will provide each investor with their specific percentage of ownership in the 6-well project, ensuring transparency and clarity.
If by the 10th of July, you have not received your Cherokee Phase 1 login, kindly reach out to us so we can promptly assist you.
We extend our appreciation for your continued support and trust as we embark on this exciting phase of our Cherokee project.
Sincerely,
The Alpha Seven Energy team
