Dear Valued Investor Partners,
We hope this update finds you well.
Please see below the latest progress report regarding the ASE 3 (Phase 2) well at the Seminole County oilfield.
ASE 3 WELL – July Production Performance:
CURRENT OPERATIONS
Operations Update: As a result of oil production substantially dropping, we performed a pump change to repair the downhole pump. We are pleased to report that the pump change was effective in restoring production to larger volumes.
Equipment Monitoring: We are monitoring the back pressure valve, which may require replacement. Otherwise, the well is finally running smoothly after the engine and pump change.
Maintenance Status: Currently, there are no immediate intervention plans required. We continue standard monitoring and maintenance protocols while the well maintains strong production levels.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
We are pleased to confirm that every investor has been sent a registration email to set up their individual platform access. You can now access your personalized investment portal via our website by clicking on the "Partner Portal" (located at the top right-hand side of the homepage) and selecting the drop-down box named "My Investment Account".
The new platform provides enhanced features including real-time access to monthly statements, production reports, tax documents, and comprehensive investment tracking tools designed to improve your overall experience with ASE.
TAX DOCUMENTATION UPDATE
We are pleased to report that the K-1 form for this Limited Partnership has been finalized and is now available for your review. Please access the information via the platform in the "Documents" section. If you have any questions or require assistance navigating the platform, please contact Claudia Brugge at claudia.v@alphasevenenergy.com.
Once again, we sincerely apologize for the delay and any inconvenience this may have caused. The migration of all investors and their holdings to our new investment platform has been a massive undertaking. Moving forward, we are confident this enhanced system will significantly improve your investment experience with ASE and ensure next year's K-1 forms are completed on schedule.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on September 11th (US time).
Best regards,
THE ASE TEAM
