Dear Valued Investor Partners,
We hope this update finds you well.
Below is a summary of recent developments regarding the Phase 4 well at the Seminole County oilfield.
LOIS 1 WELL - STRATEGIC DEVELOPMENT DECISION
Project Status: The Lois 1 completion remains on hold as we continue our data-driven approach to field development.
Strategic Rationale: As outlined in previous portal updates, we have strategically paused the Lois 1 completion based on the lack of commercial success in both ASE 1 and ASE 4 Booch formation tests. We are now awaiting the drilling and completion of the Lois Anne 1 well, which is estimated to commence on September 15th.
ASE 1 Development Update: Despite the Booch formation challenges, since we opened up the Woodford formation, the ASE 1 demonstrates strong hydrocarbon shows, and we believe it will develop into a commercial well once we complete the scheduled downhole pump repairs, or replacement (if required).
Formation Selection Strategy: Our methodical approach ensures we select the most productive formation (Woodford or Booch) based on comprehensive field performance data and actual well results rather than geological projections alone.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
For platform access assistance and all other inquiries or investor-related support, please contact Claudia Brugge at claudia.v@alphasevenenergy.com.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on October 10th (US time).
Best regards,
THE ASE TEAM
