Dear Valued Investor Partners,
We hope this update finds you well.
PORTAL UPDATE CHANGES
Moving forward, portal updates will be issued only when:
- Specific operational activities are occurring on your project well(s)
- Important project milestones are achieved
This streamlined approach will ensure that portal communications remain focused on meaningful updates and project developments.
LOIS ANNE #1 WELL - SUCCESSFUL HUNTON COMPLETION
Operational Success:
- Hunton formation was perforated and Hydraulic fractured in mid-November
- Well currently in the final stage of load water recovery
- Oil production of 8-10 BOPD during final recovery phase
- Strong gas presence reported
- Well is now plumbed into the flow line of the ASE4, and heading to the ASE4 tank battery (on a temporary basis) while the new tank battery is constructed and new flow lines are laid.
- New tank battery under construction
- New flow lines being laid for permanent infrastructure
DEVELOPMENT TIMELINE
Lois Anne 2 & 3 Wells:
- Drilling operations are set to commence within 48-60 hours upon rig arrival, with both wells to be drilled consecutively to maximize operational efficiency
- Lois Anne 2-1: Targeting Viola formation (open hole completion) with Booch sands secondary zone
- Lois Anne 3-1: Wilcox formation well
STRATEGIC RATIONALE RECAP
The Hunton completion at Lois Anne #1 well validates our decision to:
- Pause Lois 1 completion pending better geological understanding
- Complete all six wells within the ASE Lois LP first
- Build extensive production data across multiple formations
- Apply learnings to optimize future completions, including Lois 1 well
Phase 4 investors benefit from the systematic approach to field development and the valuable production data being generated across the ASE Lois LP.
Best regards,
THE ASE TEAM
