Dear Valued Investor Partners,
We hope this update finds you well.
ASE 4 WELL – STRATEGIC EVALUATION UPDATE
Current Status: The well remains shut-in following comprehensive testing and evaluation.
TECHNICAL EVALUATION RESULTS
Formation Testing Completed: We performed swab tests on the open Booch intervals, which showed limited fluid entry with no commercial quantities found. Based on these results and similar findings from ASE 1, the Booch formation has not demonstrated commercial viability.
Woodford Formation Potential: Evaluation for Woodford formation recompletion is pending successful results from ASE 1. Early indicators from the ASE 1 Woodford opening show promising hydrocarbon signs and sufficient casinghead gas to power operations, though fluid recovery challenges related to downhole pump issues are being addressed.
ASE 1 Progress Update: Pump inspection and replacement are scheduled within the next 7-10 days to address mechanical problems and optimize production performance.
Data-Driven Decision Making: We are awaiting comprehensive performance data from the ASE 1 Woodford formation test and pump optimization results before finalizing ASE 4's completion strategy. This methodical approach ensures we make informed decisions based on actual field performance rather than projections alone.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
For platform access assistance and all other inquiries or investor-related support, please contact Claudia Brugge at claudia.v@alphasevenenergy.com.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on October 10th (US time).
Best regards,
THE ASE TEAM
