Lois 1
Phase 1Our Petroleum Engineer, Deane Pierce, has continued taking readings of the ASE 2 well using our new echo meter, and this data is starting to be shared with our Geologist, Wayne Beninger. During our previous meeting with our operator and team, both Deane and Wayne reinforced their confidence that it is only a matter of time until we are able to find the solution to increase oil production. After completing the pressure bomb tests on the ASE 4 and 3, we will look to follow the same process on the Phase 1 wells.
Phase 2The workover rig has been set up at the ASE 3 well, in preparation for swabbing, followed by the 7-day pressure build up analysis, as we did on the ASE 4 well. After the 7 days have passed, our team will analyze the data and prepare an action plan to improve oil production.
Phase 3During the past 2 weeks our team has used a bottom hole pressure bomb test on the ASE 4 well, in which the well was shut-in for 7 days. These results and data will be analysed in great detail early next week, followed by a scope of work to improve oil production.
Phase 4In order to complete the Lois 2 well there is a sequence of events which must be completed first, including:Finalising the Lois 2 road and drilling pad constructionMobilising the ASE rig#3 onto the Lois 2 locationOur on-site team have reported that the road and pad should be completed in the coming day and the rig is scheduled to commence mobilisation within the next 2 weeks. Once the Lois 2 location is clear, we can then look to engage YellowJacket to perform the perforation procedure.
Phase 5The final part of the Lois 2 road and pad is being constructed, and we are planning to mobilize ASE rig#3 to the drilling location within the next 2 weeks. Just like the Lois 1 well, we estimated the entire drilling process (after drilling the rathole) will take approximately 7 days.
Phase 7Once the Lois 2 has been drilled, we will select the optimal location for the ASE 7 well and the following events must occur prior to drilling:Finalising the ASE 7 road and drilling pad constructionMobilising ASE rig#3 onto the ASE 7 locationIn the next 2 weeks the whole ASE management team will be on location at Seminole, where we plan to meet with our Oklahoma operating team and also share footage of all of the activities on site.
