Phase 4 (Lois 1)
Phase 1Both the ASE 1 & 2 wells are continuing to de-water and have been consistently pumping. The ASE 2 well is still the best performing well out of all current Seminole County wells. The ASE 1 is still producing commercial quantities of gas, and during our site visit, Deane Pierce (on camera) reinforced his confidence regarding these wells (and the others on the lease) improving oil production.
After setting up a mini facility at the ASE 2 well and collecting data, out team will now reconnect the oil flow lines back to the main site facility. During the past weeks we have been conducting downhole pressure tests on the ASE 3 & 4 wells, and this data (once fully analysed) will assist us in increasing oil production in both of the Phase 1 wells.
Phase 2The Pressure bomb and 7-day buildup analysis has been completed on the ASE 4 well, and we expect to receive the results in the coming days. Wayne Beninger and Deane Pierce will then spend time analysing the data in order to pinpoint solutions to improve oil production.
Phase 3The data from the completed bottom hole pressure bomb test on the ASE 4 well was inconclusive, so our team has set up another test in order to gain the precise data required for analysis. Once the 7-day build test has been completed, we will review the data in order to ascertain the best course of action to increase oil production.
Phase 4We are pleased to announce that the Lois 2 road and drilling pad has been completed and the ASE rig #3 has been moved from the Lois 1 location to the Lois 2 drilling pad. Based on the best advice from our operator, petroleum engineer, and geologist, they will review all of the data from the pressure build-up tests prior to undertaking the completion process.
Phase 5Since our previous portal update, our operations team has completed the road and drilling pad construction, including drilling out the rat and mouse hole. The ASE rig #3 has also been mobilised and is currently standing up at the Lois 2 location. Our team is currently conducting all of the pre-drilling procedures and safety checks.
Phase 7All of ASE's management team was on-site over the past 2 weeks, and during this time there has been a hive of activity regarding Phases 4 & 5. As you will see in one of the videos with Deane Pierce and McLoughlin, there is a large area of additional acreage where we can select the optimal location to drill the ASE 7 well. As we have mentioned in our previous portal updates, there is an order of events required to occur before the commencement of the phase 7 well. The good news is that in just the past 2 weeks, we have completed multiple steps to get to this point. For example:
The Lois 2 road and drilling pad has been fully constructed.ASE rig#3 has been mobilised and is standing up at the Lois 2 location.https://youtu.be/Gjq0x8v4KxITo watch the full-length video, which includes footage from all Seminole wells, please click here.
