8th January 2026, Update

Dear Valued Investor Partners,

We hope you all had a wonderful festive season, and from the entire ASE team, we would like to wish you and your family a very Happy New Year!

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PORTAL UPDATE CHANGES REMINDER

Portal updates will be issued only when:

• Specific operational activities are occurring on your project well(s)
• Important project milestones have been achieved that are related to your project

This streamlined approach will ensure that portal communications remain focused on meaningful updates and project developments.

‍Here is a summary of the progress being made at the ASE Oddfellows Oilfield (Seminole County).

LOIS ANNE #1-1 WELL - PRODUCTION OPTIMIZATION STRATEGY

Current Production Status

• Two truckloads of oil were sold in December
• Observed approximately a 50% reduction in fluid entry following initial completion operations
• Analyzing potential debris accumulation that may be restricting fluid entry. It is highly possible that the frac traveled up the fault, and we may just be dealing with some debris that needs to be cleaned out, with the intention of substantially increasing hydrocarbon production

Proposed Workover & Enhancement Program

A comprehensive workover proposal is being developed to optimize production through targeted acid stimulation treatment. This treatment is designed to address the reduced fluid entry that has been observed following the initial completion operations.

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LOIS ANNE #2-1 WELL DRILLED - COMPLETION STRATEGY DEVELOPMENT

Geological Cross-Section Analysis

Geologist John Dowds is completing a detailed cross-sectional analysis to map the fault structure identified between the Lois Anne #1-1 and #2-1 wells. This work is critical to understanding how the fault may have influenced the hydraulic fracturing treatment executed on the #1-1 well and will guide optimal completion strategies for both existing and future wells.

Key Investigation Areas:

• Evaluating whether fracture propagation followed the fault plane upward during stimulation
• Mapping fault geometry to optimize future well placement and completion design

Completion Readiness:

• Completion procedure finalized and ready for execution

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LOIS ANNE #3-1 WELL - DRILLING OPERATIONS COMPLETE

Total Depth Reached: 4,210 feet @ 20:00 (December 28, 2025)

The Lois Anne #3-1 well has successfully reached total depth, completing drilling operations ahead of schedule. The well was drilled efficiently with excellent wellbore stability and minimal deviation throughout the process. Following total depth, the drilling team executed a comprehensive 12-hour circulation program to condition the wellbore and prepare for wireline logging operations.

Geological Findings - John Dowds

Wireline logging operations were completed by Allied Wireline on December 29, 2025. Geologist John Dowds is currently conducting detailed analysis of the wireline logs and formation samples. These are preliminary observations based on initial field analysis; John will follow up with a comprehensive geological report including detailed technical analysis and cross-sectional work integrating the three new wells (Lois Anne #1-1, #2-1, #3-1).

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SUMMARY

Our development program continues advancing with strong technical results, efficient operations, and strategic integration of infrastructure investments. The successful drilling of the Lois Anne #1-1, #2-1 and #3-1 wells provides the critical data points to assist in creating a comprehensive subsurface model of the oilfield.

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STRATEGIC RATIONALE RECAP

1. Pause Lois 1 completion pending better geological understanding
2. Complete all six wells within the ASE Lois LP first
3. Build extensive production data across multiple formations
4. 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 Lois Anne wells.

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Best regards,

THE ASE TEAM