Dear Valued Investor Partners,
We hope this update finds you well.
In this portal, we will share the latest developments across all aspects of the ASE Parker Fee Oilfield operations.
PRODUCTION & SALES HIGHLIGHTS
July Performance:
- Total oil production: 1,362.94 barrels (Averaging 43.96 BOPD)
- Oil sales: 1,292.82 barrels
A-2A WELL PERFORMANCE UPDATE
Monitoring Phase: We continue to closely monitor the A-2A well response following the deepening operation. While the initial response has been modest, we remain optimistic based on historical data from the Helton well, which indicates this well may still require additional time to yield substantial increases in oil production. The Helton well took 3-4 months to see a sizable increase in oil production. There has been a measurable increase in water, which is similar to the results reported from the Helton well after the deepening process. There is strong evidence that as we dewater, the oil cut will increase.
Strategic Development Approach: Our original approach was to optimize the A-2A well's performance before conducting the deepening process on the other wells. We are now deciding whether to select the next well and commence deepening, as we continue to monitor the A-2A well. We will provide additional updates in our next portal update.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
We are pleased to confirm that every investor has been sent a registration email to set up their individual platform access. You can now access your personalized investment portal via our website by clicking on the "Partner Portal" (located at the top right-hand side of the homepage) and selecting the drop-down box named "My Investment Account".
The new platform provides enhanced features, including real-time access to monthly statements, production reports, tax documents, and comprehensive investment tracking tools designed to improve your overall experience with ASE.
TAX DOCUMENTATION UPDATE
We are pleased to report that the K-1 form for this Limited Partnership has been finalized and is now available for your review. Please access the information via the platform in the "Documents" section. If you have any questions or require assistance navigating the platform, please contact Claudia Brugge at claudia.v@alphasevenenergy.com.
Once again, we sincerely apologize for the delay and any inconvenience this may have caused. The migration of all investors and their holdings to our new investment platform has been a massive undertaking. Moving forward, we are confident this enhanced system will significantly improve your investment experience with ASE and ensure next year's K-1 forms are completed on schedule.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on September 11th (US time).
Best regards,
THE ASE TEAM
