Dear Valued Investor Partners,
We hope this update finds you well.
This potal realease covers the current status and planned next steps for this well.
LOIS #1 WELL
Status: Awaiting Final Programme Decision
The Lois #1 well remains shut-in while we complete our evaluation of the best use for this wellbore. As communicated in previous portals, our intention is to ensure every wellbore within the programme is maximised to deliver the highest possible financial return for investors. Part of that process involves waiting until all wells within the programme have been drilled before making a final decision on the Lois #1 well.
We are also pleased to advise that a seismic survey has been approved and is being scheduled across the entire oilfield (date to be confirmed). This is an important step that will benefit not only new wells being drilled, but also wells that have already been drilled, by providing us with additional subsurface information on formations that could potentially be targeted in the future. The seismic data will play a meaningful role in informing our final decision on the Lois #1 wellbore.
Please note that the cost of the seismic survey will not be charged to this Limited Partnership.
COMING UP
A further update will be provided in the next portal once we have additional data from the seismic programme and further progress has been made on the drilling of the remaining wells. We appreciate your continued patience and want to assure you that this decision is being made carefully and with your best interests in mind.
Our next investor portal update will be released on or before May 12th, 2026.
Best regards,
THE ASE TEAM
