Valued Partners,
We would like to update you on the current situation in Seminole County, Oklahoma for Phase I. The ASE 1 pump jack will be powered by the natural gas that comes from the well itself, therefore we require a gas powered engine. This engine and the gas lines are currently being installed and we are aiming to have the well online and the ASE 1 into production by the middle of next week, or sooner.
The ASE 2 pump jack has been purchased and is en route to location. Because of how large the Misener formation is in the ASE 2, we require a more powerful pumping system to bring the well into production. Hence the slight delay in having both wells online. This is a very good "problem" to have to solve, in having to acquire a larger pumping system to accommodate the additional anticipated oil to be pumped to the surface.
We cannot rush the completion of these wells, otherwise we risk damaging the formation if we extract from the well too soon. The Misener formation is very sensitive and must be stimulated correctly with the correct pump and correct hp motor(s). Additionally, COVID-19 in the US has slowed many businesses and industries, including the oil and gas industry, so normal business practices and time frames for acquiring equipment have slowed down somewhat. Having said that, we are on track to have both wells online and in full production before the end of August, weather permitting. A further update will follow next week when Chris and James are planning to drive back out to Seminole County, Oklahoma to shoot footage of both wells online and in full production along with the drilling of the ASE 3 well (Phase 2). Additionally, we are planning to place a vinyl wrap on our pumpjacks and brand them with the ASE logo. Please see the images below for a preview.
The ASE 1's pumpjack awaiting installation of a motor.
A digital mockup of the ASE 1 pumpjack with vinyl wrap.
