Valued Partners,
We are currently waiting for the OCC to conduct their site inspection and give the final approval to commence drilling the ASE 4. As mentioned in the previous portal update, we will be using the drilling data from the ASE 4 and all other wells drilled on our lease to select the optimal location to the drill the Lois 1 well.
We have some very positive news regarding the ASE 3's completion. With the swabbing process providing impressive oil samples, with increasing oil cuts recorded (up to 85%), this supports the high expectations we had from the analysis of the well log and soil samples we gathered. We have also made improvements to the completion process from the recommendation of Deane Pierce, who is one of our Petroleum Engineers. The additional information we are gathering will greatly assist in the completion process and the optimisation of the Lois 1 well and other wells we drill at Seminole County.
As this will be the last portal update for 2020, the whole team at Alpha Seven Energy would like to wish everyone a happy & safe holiday season and we very much look forward to a prosperous 2021!
The video below details our current progress on the ASE 3.
Update: As of this afternoon we've achieved an approximate 100% oil cut from the ASE 3.
