Dear Valued Investor Partners,
We hope this update finds you well.
We sincerely apologize for the delay in providing this update and appreciate your patience. Our goal is to ensure you receive thorough and timely updates moving forward. Portal updates will be posted at the end of the 1st week of each month.
ASE 3 Stimulation – Success & Current Challenges
- The ASE 3 well stimulation process was a success, with higher-than-expected initial production, particularly in natural gas volume.
- Due to the high energy and pressure generated by the stimulation, we have encountered challenges in controlling well pressure.
- While this presents operational hurdles, it is ultimately a positive outcome, as it indicates strong long term oil & gas gas production.
- Mother nature has also provided some challenges, as in January, freezing temperatures in Oklahoma led to the well being taken offline due to severe weather conditions.
Well Management & Optimization
- To prevent excessive back pressure affecting pump efficiency, the well has been choked back to regulate production.
- Existing pipeline infrastructure is currently unable to handle the increased gas volume and pressure, requiring modifications.
Scheduled Maintenance & Upgrades
- A maintenance crew has been scheduled to implement key improvements, including:
- Modifications to the sales line to enhance capacity.
- Removal of a knockout and re-plumbing adjustments to optimize flow.
Forward Plan & Expected Outcome
- Once these infrastructure upgrades are complete, we are highly confident that:
- Production can be gradually increased.
- The well can be brought into consistent production at optimal levels.
We appreciate your continued support and patience as we work diligently to maximize production and long-term well performance. Further updates will be provided as work progresses.
Best regards,
The ASE Team
