Dear Valued Investor Partners,
We hope this update finds you well.
In this portal, we are pleased to share significant progress across all aspects of the ASE Parker Fee Oilfield operations. This update highlights our recent production achievements, operational milestones, and exciting new investor services.
PRODUCTION & REVENUE HIGHLIGHTS
May Performance:
- Total oil sales: 1,405 barrels (8 full truckloads)
- 1 additional full truckload of oil sold compared to February
- Monthly average: 44.97 BOPD (Note: A-2A well was offline due to deepening and flowback operations)
A-2A Well Update: Since our last update in May, the A-2A well has returned to full production, and we strongly believe it has continued to produce approximately 25% additional oil.
In May, we averaged 45 barrels per day, which represents a significant increase in production when compared to previous daily oil volumes earlier this year and even late last year, especially considering the A-2A well was offline during part of this period.
We are pleased to report that the deepening process was successfully completed approximately two weeks ago. We are currently in the flowback phase, with oil cut and production anticipated to increase in the coming weeks.
Comparative Analysis: After thorough analysis of the Helton well and consultation with Mr. Helton, we are pleased to report that the A-2A well is showing very similar initial characteristics to those displayed by the Helton well when it was deepened. Over the subsequent months, the Helton well experienced substantial increases in oil production month over month.
While this is no guarantee of identical performance, it is certainly a positive indicator for future production potential.
We look forward to providing more detailed production data in our next portal update.
ALPHA SEVEN ENERGY INVESTMENT PORTAL
Last week, we initiated our phased rollout of the new investment portal to a limited number of ASE investors. This approach allows us to identify and resolve any technical issues before the full-scale launch to all investors.
TAX DOCUMENTATION UPDATE
We have received confirmation from our accounting team that K-1 forms will be completed and filed within the next 3-4 weeks.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on Thursday, July 10th (US time).
Best regards,
THE ASE TEAM
