Dear Valued Investor Partners,
We hope this update finds you well.
This update covers the current status and planned next steps for this well.
ASE #4
Status: Shut-In — Permitting and Evaluation in Progress
The ASE #4 is currently shut-in while we work through the permitting process and gather additional data to determine the best path forward for this wellbore.
We are pleased to advise that we have scheduled a seismic survey to be conducted across the entire oilfield (date to be confirmed). This is an important step that will benefit not only new wells being drilled, but also wells that have already been drilled, by providing us with additional subsurface information on formations that could potentially be targeted in the future. Based on this data, there is a possibility that the ASE #4 well could prove to be a producer of oil and gas — and we are keeping that potential firmly in view as we work through our evaluation.
We are continuing through the permitting process and, depending on what the seismic data and approvals indicate, it may be that we opt to convert a different wellbore into the saltwater disposal well. We want to be transparent that we do not yet have all the information required to make a final decision, but we are working diligently to get there and will provide full details in the next portal update once we are in a position to do so.
What we can say with certainty is that our goal remains unchanged — to maximise every single wellbore within the oilfield to create the highest possible financial value for our investors. That objective is front and centre in every decision we make, and we strongly believe that with the additional data the seismic survey will provide, we will be able to make the very best decision for all investors.
Please also note that the cost of the seismic survey will not be charged to this Limited Partnership.
COMING UP
Further details on both the permitting process and the seismic survey scheduling will be provided in the next portal update. We appreciate your continued patience.
Our next investor portal update will be released on or before May 12th, 2026.
Best regards,
THE ASE TEAM
