Dear Valued Investor Partners,
We hope this update finds you well.
Please find below your June 2026 operational update for the Seminole County Phase 4 project, covering the Lois #1 well.
OPERATIONS UPDATE, JUNE 2026
Status: Awaiting OCC Approval
The Lois #1 made meaningful permitting progress during June. The saltwater disposal permit application has been accepted by the Oklahoma Corporation Commission (OCC). The permitting process is progressing well through its required steps:
Water samples: Obtained from the ASE 2 and Lois Anne #1-1 (production water for disposal) as well as from two area fresh water wells
Wellbore schematic: The proposed wellbore schematic has been filed with the OCC
Next steps: Awaiting the OCC response to progress the application
The completion AFE for the Lois #1 is ready for approval, which positions the project to move quickly once the OCC approval is received. This disposal well is a key enabler for the wider field, unlocking additional production from all of the wells. We will provide a further update as soon as the OCC approval is received and the final programme decision is confirmed.
COMING UP, JULY 2026
We are awaiting the next steps from the OCC and will keep investors informed as the application progresses.
Our next scheduled investor portal update will be released on or before August 12th, 2026.
Best regards,
THE ASE TEAM
