Valued Partners,
We are very pleased to announce that we have perforated the Misener payzone (at 6 shots per foot) with some very promising initial results. Over the past few days, our team has been swabbing the well bore, and on Monday afternoon we saw increasing amounts of oil and the well started to self-flow on more than two separate occasions.
Deane Pierce, who is one of our Petroleum Engineers, explains on camera that the high levels of expectation due to the well log and samples are proving to be correct. Throughout the afternoon, the samples taken from the well bore showed the oil-to-water ratio greatly improve, and we estimate that we could see up to a 100% oil cut from the Misener formation.
We will continue to conduct the production tests until we break for Christmas on the 24th December. Once all of the results have been collected and analysed, we will select the correct specification of the pump jack to install which will optimise oil and gas production.
As this will be the last portal update for 2020, the whole team at Alpha Seven Energy would like to wish everyone a happy & safe holiday season and we very much look forward to a prosperous 2021!
Update: As of this afternoon we've achieved an approximate 100% oil cut from the ASE 3.
