Valued Partners,
The ASE 1 well is continuing its flowback phase of production, removing approximately 100 barrels of stimulation fluid per day. We are considering purchasing another tank battery to accommodate the anticipated oil production.
We are pleased to report that the ASE 2 well has seen some significant improvements to its oil production in the past week, reinforcing the expectation that each well should produce increasing quantities of oil as they progress through the de-watering phase.
Below is a summary of all other Seminole County project developments. As mentioned in the last portal update, the ASE 3 well (Phase 2) continues to be dewatered and we are waiting for the back-pressure valves to arrive. Once the gas anchors and valves have been installed, we can control the gas then increase the efficiency of the well to its optimal rate, with substantial improvements to the oil cut and production anticipated to follow.
Like the ASE 3 well, we are waiting for the arrival of back-pressure valves and other components in order to complete the dual-solution for minimising gas interference and improving the efficiency of the pumpjacks. Both Phase 2 & 3 investors should be happy to hear that the ASE 2 well is seeing sizable improvements in production, and as mentioned previously, reinforcing the expectation that each well should produce increasing quantities of oil as they progress through the de-watering phase.
We are very pleased to report that we have commenced drilling the Lois 1 well (Phase 4) and as stated in the portal update yesterday, ASE is offering all Seminole County investors the opportunity to experience the entire drilling operation via Pason and the live feed cameras. If you still have not registered please do so by clicking the link below.
The cameras will be live on Monday morning (CST) and Pason will be active once we have drilled down to 560 ft, set casing (9 & 5/8), and allowed 24 hours for the cement to cure, which is estimated to be this coming Wednesday/Thursday (CST).
Registration
Every investor who has registered should receive an email from Pason, which will provide your username and password. Similarly, you will receive an email from Arlo with your login details to access the cameras on location. Please note, if you have already accessed the ASE Arlo cameras in the past, you will not receive the email because your original login is still active, thus allowing access to the Lois 1 cameras.
Regarding Pason, once you log-in, you should see the "Well Home" page, then simply click on the "Pason Live" button. You will then be taken to the live drilling page, which will show you the current hole and bit depth. Please note, there will be times which the bit depth differs from the hole depth, this can occur multiple times through the drilling procedure, as the drilling bit is replaced.
Wayne Beninger, our Geologist, has recorded a short video explaining why we have selected the exact locations for the Lois 1 & 2 wells (Phases 4 & 5). The Lois 2 well is next in line to be drilled after the Lois 1.
For all Phase 7 and Phase 8 investors, you will be happy to know that as mentioned in the October 15th portal update, the implementation of improved strategies to fast-track our drilling operations has commenced and is starting to produce positive results. In the coming weeks, our geologist will start to select possible locations for the ASE 7, ASE 8A, and ASE 8B wells in preparation for permitting and staking.
