Dear Valued Investor Partners,
We hope this update finds you well. Below is a summary of the latest developments regarding the Lois 1 (Phase 4) well.
Lois 1 Well – Completion Progress
- The Authority for Expenditure (AFE) has been finalized.
- We are currently securing all necessary approvals to move forward.
- Contractors are being contacted to begin scheduling the required work.
Projected Timeline & Execution
- The tentative start date for well completion is the first week of April.
- Our team is working diligently to accelerate the process where possible.
Project Outlook
- The ASE team is highly motivated to bring Lois 1 online and into production, especially considering the strong performance of ASE 3, which, like the Lois 1 well, will target the Booch Formation.
- Preliminary ASE 3 sales indicate:
- 955 barrels of oil sold.
- 2,561 Mcf of natural gas transported and sold via our sales line.
Our next portal update will be released at the end of the first week of April.
Best regards,
The ASE Team
