7th January 2026, Update

Dear Valued Investor Partners,

We hope you all had a wonderful festive season, and from the entire ASE team, we would like to wish you and your family a very Happy New Year!

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ASE 1 WELL - AWAITING ASE 4 DISPOSAL CONVERSION

Production Status: Temporarily shut-in during December, awaiting scheduled workover.

Strategic Opportunity - Three Pay zone Co-Mingled Production

Completion Plan:

• Open up the Hunton formation
• Commingle with Woodford and Booch formations for three-pay zone production
• Produced water will be pumped to ASE 4 for disposal
• Enable production from all three formations simultaneously

ASE #4 Disposal Well Conversion

• Disposal well permit application under final regulatory review
• Permit approval anticipated by the end of this month
• Conversion operations scheduled to commence within 3-4 weeks of permit approval

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ASE 2 WELL - SOLID PRODUCTION PERFORMANCE

December 2025 Production

Production & Sales Results:

• Oil: 212.92 barrels
• Oil Sales: 304.78 barrels (2 loads)
• Gas: 1,194 MCF
• Water: 228.79 barrels

Sustained Optimization Success

The September pressure valve adjustment (reducing separator pressure from 60 PSI to approximately 40 PSI) continues delivering consistent oil and gas production. The well is running smoothly with very few issues throughout December.

December Operational Status

The well continues performing at optimized levels with minimal operational issues, demonstrating the lasting impact of the optimization work.

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Best regards,

THE ASE TEAM