Valued Partners, We are very proud to announce that the ASE 1 has produced oil. On Wednesday, the team drove to the lease to oversee completion of the ASE 1. Our operating team perforated the well casing, ran tubing down the bore hole, and began swabbing the well in an attempt to make contact with the oil formation. After a few attempts, it was clear that we needed to treat the well with acid, so we treated the well yesterday morning, and we have just received our first oil sample. This is preliminary, and so far we are seeing a 10% oil cut.
After swabbing is complete, the team will move the rig to the ASE 2 and conduct the same process for that well. We will provide subsequent updates for every major stage of the operation.
Below, we have compiled a short video from our visit, featuring some key moments from the completion process.
