Dear Valued Investor Partners,
We hope this update finds you well.
OPERATIONS UPDATE — MARCH 2026
March was an active month at the Parker Fee lease, with production remaining strong despite some weather-related infrastructure challenges carried over from February.
Following the high wind events of February, several utility poles on the lease required replacement. This electrical infrastructure work continued into March, with the compressors going down on March 24th and a transformer panel requiring replacement. Separately, workover activity was completed in February (which was inadvertently omitted from last month's portal) — this included a substantial paraffin cleanout on the #56 well and remedial work on the #53 well.
PRODUCTION — MARCH 2026
- Total Oil Produced: 1,703.16 barrels
- Oil Sales: 1,820.34 barrels (includes prior month stock)
- Lease Average Rate: Approximately 56 BOPD for March
- Note: The lease experienced some pressure loss following the extended February shut-in period and is being monitored for recovery. Prior to that shut-in, the lease was producing above 60 BOPD. The operations team is actively reviewing well files for additional production enhancement opportunities, including the potential to deepen the #2A well, as part of a broader strategy to push production higher during the current favourable commodity pricing environment.
COMING UP — APRIL 2026
Remaining electrical restoration work for the downed utility poles is scheduled for the first week of April. Wells will be temporarily offline for less than two days during this work. Normal operations are expected to resume promptly upon completion.
K-1 TAX SCHEDULES
The K-1 tax schedules have been prepared and distributed to all investors. If you have any queries regarding your K-1, please ensure these are submitted to us as soon as possible as our accountant will be finalising and filing the partnership tax returns imminently.
As always, your monthly financial statement is available through your investor account portal.
Our next investor portal update will be released on or before May 12th, 2026.
Best regards,
THE ASE TEAM
