Dear Valued Investor Partners,
We hope this update finds you well.
This portal release covers the latest progress across the Oddfellows oilfield that directly informs the path forward for the Lois #1 wellbore.
LOIS #1 WELL
Status: Awaiting Final Programme Decision
As outlined in our previous portal, the final decision on the optimal use of this wellbore will be made once all wells in the programme have been drilled and the seismic survey results have been integrated into our planning. We are pleased to share meaningful progress on both fronts during the past month.
The Lois Anne #4-1 has been successfully spudded and is currently drilling ahead. On May 6th, surface casing was run and cemented to a depth of 850 feet, and as of 3:00 PM Central Time today, the well is drilling at approximately 3,150 feet — only around 150 feet from the anticipated top of the Booch formation. Reaching total depth on the Lois Anne #4-1 represents another major step toward completing the drilling phase of the programme.
In parallel, the Lois Anne #2-1 has been perforated in the Booch formation between 3,306 feet and 3,312 feet, and early indicators are very encouraging. Initial swabbing has shown increasing gas blows with each run, fluid entry has commenced, and the well is now showing 90 lbs of pressure on the tubing with continued strong gas blow. This geological information directly informs our understanding of the Booch formation across the field and is highly relevant to the Lois #1 evaluation.
The seismic survey approved across the oilfield is currently in the scheduling phase. We are continuing to follow up with the seismic company on confirmed dates while concurrently working with surrounding landowners to secure access approvals. As previously confirmed, the cost of the seismic survey will not be charged to this Limited Partnership.
Our next investor portal update will be released on or around June 12th, 2026, with milestone updates to be issued in between as drilling activity progresses.
Best regards,
THE ASE TEAM
