Dear Valued Investor Partners,
We hope this update finds you well. Below is a summary of the latest developments regarding our project development plan and upcoming next steps.
Project Development Progress
- As outlined in our previous portal update, Steps 1 and 2 have now been successfully completed.
- The ASE 2 and ASE 3 wells are in full production, with initial output exceeding expectations.
- This strong performance reinforces our confidence in the success of ASE 4.
Next Steps – ASE 4 Recompletion in the Booch Formation
- All tenders for the full scope of work have been received and reviewed.
- The Authority for Expenditure (AFE) has been finalized.
- In the coming weeks, CFO Peter Fagan will be sending a capital call notice to all Limited Partners.
- The next step is to schedule and execute the completion of ASE 4, targeting the Booch Formation, a reservoir that has already demonstrated high productivity.
- Our objective is to maximize oil and gas output from this formation, further enhancing overall project returns.
We sincerely appreciate your patience as we advance through these key project phases.
Our next portal update will be released at the end of the first week of April.
Best regards,
The ASE Team
