Dear Valued Investor Partners,
We hope this message finds you well.
Before proceeding with the project update, we would like to inform you that all required financial reports have been submitted to our accountants for the processing of the K-1 forms.
Operational Update – Seminole County Oilfield
On Wednesday, Senior Partners Dylan Knight and Grant McLoughlin conducted an on-site inspection at our Seminole County oilfield. During the visit:
- The ASE 4 well underwent hydraulic fracturing (fracking).
- We anticipate that this well will come online within the next 7-10 days.
- This marks another key milestone in our strategic redevelopment of the oilfield.
In addition:
- Dylan and Grant met with our contract operators to finalize the drilling plan for the next well, Lois Anne 1.
- They are scheduled to return to the site next week to officially stake the well location.
- This will be the first well in which Seminole County Phase 7 investors will be allocated ownership through assigned working interest.
- This continues our forward momentum toward key development targets.
Investor Ownership & Growth Strategy
As outlined in our Road to Revenue video, each investor in the Seminole County Phase 7 LP will receive a proportional working interest across all newly drilled wells within the ASE Lois LP.
- Working interest (WI) is planned to be allocated in the 6 proposed ASE Lois LP wells and future wells, until each investor receives full dollar-for-dollar value WI based on their original capital contribution.
Next Drilling Phase – Key Drivers of Value
We are particularly enthusiastic about the upcoming drilling phase due to the following:
- Accelerated Path to Monthly Revenue
- Our main objective is to reach the point where net oil and gas revenue can be distributed to investors as soon as possible.
- We are laser-focused on advancing and executing our development strategy rapidly to meet this objective.
- Confirmed Multi-Zone Pay Potential
- Rework results from the ASE 2 and ASE 3 wells have yielded impressive results, which have significantly strengthened our expectations for future well performance.
- New geological analysis has confirmed up to five hydrocarbon-rich pay zones beneath the Seminole County oilfield.
- Forward-Looking Development Strategy
- Over the next 12–18 months, we plan to drill the six new wells within the ASE Lois LP.
- Following the drilling phase, we aim to implement a waterflood program, a proven enhanced recovery method that:
- Maintains reservoir pressure
- Extracts both primary and secondary reserves simultaneously
- Nearby projects, in some cases, have seen production double with this process, and we see strong potential for similar success.
Additional Investment Opportunity – ASE Lois LP
Several of our existing investors have already increased their positions in the ASE Lois LP, driven by:
- Accelerated Development & Increased Ownership
- With additional investment, we can fast-track drilling operations, bringing forward the timeline for monthly revenue distributions to investors.
- Investors benefit from increased working interest allocations.
- Exclusive Terms & Added Value for Existing Limited Partners
- Minimum investment thresholds have been removed.
- Enhanced working interest terms are being offered, benchmarked against Series A investor terms.
If you are interested in expanding your investment or would like to explore available opportunities, please feel free to contact us for further details.
Lastly, please rest assured that ASE is laser-focused on delivering tangible results, driving our drilling program forward, and commencing monthly net revenue distributions in the shortest time frame possible.
Warm regards,
The ASE Team
