Valued Partners,
On Wednesday the 10th of March our coring team successfully cored 60 ft. of our ASE 4 well, and we are very pleased to report that we recovered approximately 45 ft. of core samples. These samples have been sent to the laboratory in Oklahoma City, where they will be analyzed and the data will inform us of how to optimize the oil & gas production in our Misener wells, and maximize the total amount of hydrocarbons we recover during the life of each well. In the coming weeks, based on the core results, we will select the exact sand stimulation design for the ASE wells and commence the final completion process for the ASE 2, 3, and all other ASE wells drilled. Based on our extensive research of over 30 Misener wells in Seminole County, the whole team is extremely confident that the ASE Misener wells, utilizing our advanced completion techniques, could exceed our initial production estimates.
Looking forward, from the Lois 1 well (the next well to be drilled) onwards, we believe the drilling and completion of these wells will be standardized and more easily replicated because the sand stimulation design and completion process should be identical for all future Misener wells on our lease.
As of today, we are pleased to announce the official release of the ASE Seminole County Phase VIII LP offering, with all ASE Investor Partners ed 1st right of acceptance (see link below). There are two important points we need to highlight with this offering:
1. Due to the rate of our capital raising we have opted to make Phase VIII a two-well project, with the added benefit (for our investors) of gaining additional diversification in their oil and gas portfolio.
2. Phase VIII will potentially be the last phase we offer to investors in Seminole County for an extended period of time, because we want our drilling program to catch up with our capital raising and we are looking at developing our other projects in Texas.
First Right of Acceptance - Phase VIII
