Dear Valued Investor Partners,
We hope this update finds you well.
In this portal, we are pleased to provide your October 2025 operational update for Seminole County Phase 1 wells, including our planned scope of work.
PORTAL UPDATE REMINDER
As investors now have direct access to their monthly statements via the investor platform and receive automatic notifications when statements are posted, the monthly portals will no longer duplicate this financial information.
Moving forward, portal updates will be issued only when:
This streamlined approach ensures that portal communications remain focused on meaningful updates and project developments, while your financial statements remain readily accessible through your investor platform account.
ASE 1 WELL - SCHEDULED FOR THREE PAYZONE CO-MINGLE PRODUCTION
Production Status: Temporarily shut-in during October, awaiting scheduled workover.
Operational Update: With the future availability of the ASE 4 well as a saltwater disposal facility, the Hunton formation becomes economically viable for the ASE 1 well. The most recent test of the Hunton formation yielded a flow rate of approximately 300 barrels of fluid per day, accompanied by an oil cut.
Completion Plan: We will open up the Hunton formation and commingle with the Woodford and Booch formations. Produced water will be pumped to the ASE 4 for disposal, allowing the ASE 1 to pump profitably from all three formations.
Timeline: Operations scheduled pending ASE 4 conversion to disposal well. We have filed the permit for conversion to a saltwater disposal well with the Oklahoma Corporation Commission (OCC). Application No. 2601100401 has been opened by the UIC department.
October Technical Activities:
Regulatory Progress: Submitted comprehensive documentation to the Underground Injection Control (UIC) department, including wireline logs, water samples, proposed wellbore schematic, and supporting technical information for saltwater disposal permit review.
ASE 2 WELL - PRODUCTION OPTIMIZATION SUCCESS
Production Status: Producing with improved performance following operational adjustment.
October Production:
Operational Improvement: During October, we opened up the pressure valve on the separator, decreasing pressure from 60 PSI to approximately 40 PSI to relieve line pressure. This adjustment resulted in:
We will continue monitoring this enhanced production level throughout December.
Best regards,
THE ASE TEAM
