Dear Valued Investor Partners,
We hope this update finds you well. Please find below your update on the Lois #1 well.
WHERE THE LOIS #1 STANDS
- The SWD conversion: as explained in our previous portal, we were unable to reach commercial terms with the landowner of the southern section of our lease, which contains the Lois #1 well, so the SWD (saltwater disposal well) conversion did not proceed.
- The alternative: we fast-tracked converting the ASE 3 well into an enhanced recovery injection well (ERI well), which will handle the water produced across the field. We would not ordinarily convert the ASE 3 until its production had declined to much lower levels, and we are doing so for the betterment of all of our investors.
- The Lois #1 well: no decision has yet been made on the well, and time will tell. Our aim is the best possible outcome for the Seminole County Phase 4 partnership and its investors.
We appreciate you may have lots of questions, and this is understandable. Yet this is all the information we are able to provide at this stage. We will share further detail in future portal updates as each milestone is reached.
Our next scheduled investor portal update will be released on December 11th, 2026.
Best regards,
THE ASE TEAM
