Phase 7 (ASE 7)
Dear Investor Partners,
We are pleased to report some positive progress being made regarding the Seminole County legal case. Since the 19th of July, the oil purchaser, who has continued to pay MXP, has now put all remaining funds in suspense. Currently, there is $52,062.54 being held and they have indicated that all future revenue will be held, with the intention of paying the courts. This is a very positive development, as this will massively impact MXP's ability to pay for their legal team, in effect cutting off their cash flow.
Regarding our Cherokee project, all investors should have access to the Cherokee Phase 1 portal, which has been regularly updated with the progression of the ASE 2-9, which was successfully drilled and logged on Sunday. Go to the portal now to review our project geologist's report (analysis of the rock samples and log).
We would like to extend our appreciation for your continued support and trust as we embark on this exciting phase of our Cherokee project.
Warm regards,
The Alpha Seven Energy team
