We hope this update finds you well.
Now that we have fully implemented the investor account management software for all investors, we would like to inform you of some updates to the information provided in the monthly portals.
As investors now have direct access to their monthly statements via the platform and receive automatic notifications when statements are posted, the monthly portals will no longer duplicate this information.
Moving forward, portal updates will be issued only when:
This streamlined approach will ensure that portal communications remain focused on meaningful updates and project developments, while your financial statements remains readily accessible through your investor platform account.
ASE 1 WELL UPDATE
Senior Partners Dylan Knight and Grant McLoughlin were on location on the 21st of September to observe the rods being pulled and a new downhole pump installed.
Initial Results: Within a few hours of the pump replacement, we observed an approximate 65% oil cut with oil flowing into the tanks. However, when we returned the next day, there was no fluid entering the wellbore.
Current Status: Unfortunately, this has been a recurring challenge we have faced with this well. The formation continues to show hydrocarbon presence, but fluid entry remains inconsistent.
Next Steps: There is one more remedial scope of work that we will action in the coming weeks, which is to pull rods and potentially implement an acid job to clean out the perforations and formation. This treatment is designed to remove any blockages or formation damage that may be restricting fluid flow into the wellbore.
We will provide an update once this final remedial work has been completed and the well's performance has been evaluated.
If you have any questions about accessing your account, locating your monthly statements, or any investor-related inquiries please contact Claudia Brugge at claudia.v@alphasevenenergy.com.
Best regards,
