2nd December 2024, Update

‍Dear Valued Partners,

We hope this update finds you well and thank you for your continued partnership and support.

‍

^{Secured Funding and Project Schedule}

We are pleased to inform you that the General Partner (GP) of ASE Seminole County Phase 2, LP has successfully secured funding for the stimulation of the Oddfellows ASE3 well. This milestone was achieved through a strategic partnership with external capital providers who have assumed the financial risk associated with this project.

The stimulation procedure has been successfully completed, and we will share a detailed report with all partners next week.

_{Revenue and Cost Recovery Timeline}

A clear timeline for revenue recovery—including cost and penalty reimbursement for consenting parties—will be established once stimulation results and confirmed production/sales data are available. This approach ensures that projections are grounded in accurate, post-stimulation performance metrics.

_{Key Benefits for Existing Limited Partners (LPs)}

By electing non-consent, our existing Limited Partners benefit in the following ways:

1. No Additional Capital Requirements
   • LPs are not required to provide any additional funding for this high-risk procedure.
2. Retained Upside Potential
   • LPs retain their rights to benefit from revenues generated by the well. Following cost recovery and penalty reimbursements by consenting parties (per the Joint Operating Agreement), any remaining revenues will be distributed to non-consenting partners.

_{Next Steps}

• Stimulation Results
  • A detailed report on the stimulation outcome will be shared next week.
• Revenue Forecast
  • Following confirmation of production and sales data, we will provide a comprehensive timeline for cost recovery and revenue distribution.

We appreciate your patience as we move forward with these critical steps and remain committed to transparent communication and prudent decision-making.

Sincerely,
General Partner
ASE Seminole County Phase 2, LP