Similarly to Phase I, the Seminole County Phase II project is located within the heart of Seminole County, Oklahoma, the site of the historic Seminole oil boom, which turned Oklahoma into one of the most prolific oil producing regions in the world for a time. Our third well on this lease, the ASE 3, is going to target two primary reservoirs (or pay zones), the Booch at approximately 3,300 ft and the Wilcox Sands at approximately 4,100 ft. The Wilcox was the discovery that sparked the oil boom in Oklahoma when it was discovered by the Indian Territory Illuminating Oil Company in the 1920s. These historic pay zones are producing to this day, and that’s the reason why our prospective well site is surrounded by production.
As of April 21, 2020, our first well on this lease, the ASE 1, has achieved target depth, and made contact with four oil formations, including the Booch, Misener, and Wilcox. We’re now beginning preparations for the ASE 3, and expect that this well will achieve the same level of success as its predecessor.