Valued Partners,
Over the past two weeks, we have been trucking-in 10 frac tanks that will hold the water in preparation to complete the ASE 2 sand stimulation. During the course of the week, the tanks have been painted in ASE colors and have been filled with water.
On Wednesday, we perforated 25 ft. of the Misener/Hunton formation in the ASE 2 well bore. The perforating gun that was used measured a massive 32 ft. in length, which is the longest gun that any of our operators have seen in over 30 years. This continues to support the narrative of how abnormally thick our Misener/Hunton formation is when compared to most other wells drilled in the area. Note that the average perforating gun is generally between 7-15 ft.
Quasar has completed the sand stimulation today on the ASE 2, pumping in 3,500 bbls of fluid and 70,000 lbs of sand. We have included the video below for an up-close look at the process.
Here is a summary of all other Seminole County project developments:
Last week, the ASE 4 well's PCP (progressive cavity pump) was installed and connected to the natural gas generator. Currently, our team is making some minor adjustments and fine tuning the pump in order to optimize its oil production capabilities.
As stated in the previous portal update, it was our original strategy to conduct both the ASE 2 & 3 wells' sand stimulation on the same day. Based on multiple factors and advice from our team, we have pushed back the ASE 3 sand stimulation approximately 2 weeks. This will give us time to monitor the ASE 4 & ASE 2 results, and select the most effective completion process in order to assist in optimizing the performance of the ASE 3 well.
Regarding the Lois 1 well, we are continuing to purchase as much timber (railway sleepers) as we can in order to commence construction of the service road. This will allow heavy equipment, trucks and our drilling rig to be mobilized at the Lois 1 drilling pad in order to prepare for the upcoming drilling operation.
