Your actual statement will differ.
Valued Partners,
Congratulations to all phase 1 & 3 investor partners! We are very proud to announce that Peter Fagan, our CFO, has processed the first oil revenue disbursements on September 24th for Seminole County Phases 1 & 3.
It has taken a huge effort to reach this major milestone and we would like to thank all of our investors for their continued support and patience. As covered in previous portal updates, the wells are currently in the dewatering stage of production, and over the past few months each well has required fine tuning, with the ASE 4's PCP being replaced with a traditional pumpjack.
Over the coming months we anticipate the oil cut to substantially improve as the dewatering process continues to remove formation water. With the current, high oil & gas prices and increases in production, we are confident that the size of the monthly investor revenue disbursements will continue to grow until the wells reach peak production.
Peter Fagan will be sending each investor their Owner Distribution Statement via email, and he has recorded a video below covering the most frequently asked questions regarding the breakdown of the distribution statement and the process from selling the oil and gas all the way through to processing the pay run via Sherware.
Once again, we would like to congratulate our partners on their 1st oil revenue disbursement. Have a great weekend!
Please note that the statement shown in the video is hypothetical and that we have assumed 2,000 barrels and a $70 WTI price for illustrative purposes only. Your actual statement will differ.
