Valued Partners,
To kick off the first portal update for 2023 we would like to wish everyone a very happy New Year and reinforce our commitment to each and every one of our project partners. In 2022 we outlined our mission and primary goal and in 2023 we are continuing on that mission to ensure that every one of our investors receives maximum financial benefits, both in terms of return on investment and fast-tracking their investment recoup period.
There have been multiple challenges with the Seminole County project and to date, we are still in the process of removing the current operator so we can rightfully take the position as the operator for all Seminole County wells. With most legal matters there is, unfortunately, an unknown timeframe for this to occur. Our legal team has been working diligently and they are confident that we will get this situation resolved in the very near future.
Once we have full control and ASE Operations, LLC is the operator, the monthly oil revenue to all Phase 1-3 investors can recommence. In addition, ASE will bring-in OGP Operating Inc. (as covered in previous portal updates) to commence their full assessment with the intention of increasing hydrocarbon production on all current wells.
Once again thank you for your understanding and patience in the matter and we look forward to providing more positive updates in the near future.
