3rd July 2024, Update

Dear Valued Investor Partner,

Today, Wednesday, July 3rd, 2024 (US time), marks a significant milestone in our Seminole County project as justice has finally been served.

Alpha Seven Energy (HKMF) has been awarded a full injunction by Judge Timothy Olsen, District Judge for Oklahoma's 22nd Judicial District. Following last week's hearing on June 24th, we were patient and optimistic that Judge Olsen would make the right decision and grant HKMF a permanent injunction. Based on the substantial evidence presented by our legal counsel and us, the Judge rendered his final decision in our favor.

Below is a summary of today's Seminole Court decision. Please note that the injunction is permanent, not temporary, as confirmed by our attorneys, Mahaffey and Gore, and the official court document.

Please note that FP Operating LLC, is a fully licensed operator in the State of Oklahoma, owned by ASE/HKMF.

Summary of Court Decision:
In a hearing before the District Court of Seminole County on June 24, 2024, HKM Holding Company, LLC (HKMF), through its contract operator FP Operations, LLC, sought a temporary injunction against MXP Operating, LLC. The Court found that HKMF was likely to succeed on the merits of its claims and would suffer irreparable harm if MXP remained the operator.

The Court Ordered:

• A temporary and permanent injunction to prevent irreparable injury to the Plaintiffs (HKMF).
• MXP is removed as the operator of the wells and leases covered by the Joint Operating Agreement (JOA) and FP is appointed as the successor operator.
• MXP must not interfere with the operations managed by HKMF and FP.
• MXP must turn over all money, revenue, bank accounts, and information related to the operations to HKMF.
• MXP must cooperate in the regulatory paperwork for transferring operations to FP, including signing Form 1073.
• A bond of $10,000.00 has been deposited by HKMF to cover potential damages to MXP if the injunction is later found unwarranted. This order is effective immediately.

As we move forward with our Seminole County project development, we ask for your continued patience. There are many weeks and months of hard work ahead. We need to execute a full geology and engineering report and assess the current wells (ASE 1, ASE 2, ASE 3, and ASE 4) to evaluate the potential for improving production. Additionally, we will assess the remaining oil reserves and develop a plan to drill the incomplete wells.

Our goal is to bring these remaining wells online and into production as soon as possible to deliver monthly oil and gas production. This will take time, and we need to develop and execute a solid plan.

The good news is that our operating company, FP Operations, LLC, is now the licensed operator, and we are in full control. We will endeavor to maximize the oil and gas production potential of these wells and the Seminole County asset in the shortest possible time frame. Please understand that ASE also has ownership in these wells alongside you, and we all seek the same successful outcome.

We kindly and respectfully request that you refrain from contacting us with questions at this time, as we need to be fully focused on managing the asset and formulating our strategic game plan. Further updates will follow in the coming weeks as we finalize the development plan and commence operations.

From the entire ASE team, we would like to extend our heartfelt appreciation to everyone who supported the legal fund and for your patience during this challenging situation.


Best regards,
The ASE Team