Dear Valued Investor Partners,
We hope this update finds you well.
Please find below your August 2026 operational update for the ASE 4 well.
OPERATIONS UPDATE, AUGUST 2026
Status: Temporarily shut in
The ASE 4 remained temporarily shut in during August, and the path forward for this well has become clearer.
The procedure to re-test the Hunton formation in the ASE 4 is under detailed review by our geologist and engineer. The Hunton is expected to produce large quantities of water alongside gas, and potentially oil, so the re-test is sequenced to follow the completion of the Lois #1 saltwater disposal well, which will take that water.
Completing the Lois #1 as the disposal well delivers two benefits at once. It provides the field with dedicated disposal capacity, and it frees the ASE 4 to return to production rather than being converted permanently into a disposal well.
The Lois #1 has taken a significant step forward this month. The Oklahoma Corporation Commission has reviewed and verbally approved the proposed cement circulation procedure, all required documents have been furnished, and we have received in principle full approval of the permit, with the Commission now completing the well transfer paperwork.
Our next scheduled investor portal update will be released on October 12th, 2026.
Best regards,
THE ASE TEAM
