Dear Valued Investor Partners,
We hope this update finds you well.
ASE-3 WELL
Status: Producing — Post-Frac Stimulation Recovery
The ASE-3 had a complex but ultimately very productive month following the late March frac stimulation (1,150 barrels of fluid and 39,000 lbs of sand and proppant pumped into the Booch formation).
Operational Recap:
After an engine issue caused sand to cave into the wellbore in early April, a workover rig was deployed in the first week of April to bail out sand and repair the pump. After recovering approximately 800 barrels of the 1,150 barrels of load water, oil began flowing into the tanks.
After adjusting the dump valve on the separator and accounting for water carryover into the oil tank, the well delivered 46.76 barrels of oil on April 16th — a strong post-frac flush rate. By month-end, the well had stabilised at approximately 20 BOPD. Gas is being vented to allow maximum oil production, and the engine is now running on casinghead gas.
Production — April 2026 (all post-April 15):
COMING UP — MAY 2026
The ASE-3 will continue producing under monitoring as it stabilises post-frac. The casinghead gas system has reduced fuel costs and the well is performing in line with our post-stimulation expectations.
As always, your monthly financial statement is available through your investor account portal.
Our next investor portal update will be released on or around June 12th, 2026.
Best regards,
THE ASE TEAM
