Dear Valued Investor Partners,
We hope this update finds you well.
ASE 4 WELL – CURRENTLY OFFLINE
Current Status and Recent Activities: We have completed a comprehensive wellbore cleanout and pump cleaning operation. Our analysis indicates a fluid entry problem similar to the issue encountered with the ASE 1 well. The well has been temporarily shut in while we conduct a fluid level assessment.
Positive Indicators: During our recent operations, we discovered "good oil" on the pump and the bottom two joints of tubing, confirming that the well has produced oil and that hydrocarbon reserves are present.
Planned Remedial Action: This Wednesday, SERTCO Compressor will install a compressor unit at the wellhead to create vacuum conditions on the casing and relieve gas pressure from the wellbore. This approach is designed to facilitate proper fluid entry and restore production.
Senior Partners Dylan Knight, Chris Hemsworth, and Grant McLoughlin will be traveling to Seminole County to personally oversee this critical operation.
We are cautiously optimistic that this approach will yield positive results and will provide detailed updates on the outcome in our next communication.
ALPHA SEVEN ENERGY INVESTMENT PORTAL
Last week, we initiated our phased rollout of the new investment portal to a limited number of ASE investors. This approach allows us to identify and resolve any technical issues before the full-scale launch to all investors.
TAX DOCUMENTATION UPDATE
We have received confirmation from our accounting team that K-1 forms will be completed and filed within the next 3-4 weeks.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on Thursday, July 10th (US time).
Best regards,
THE ASE TEAM
