Valued Partners,
Phase 7 partners now have an interest in Phases 4 & 5. The relevant updates are below:
Because of our strategy which was outlined in the previous portal update, we thought investors would appreciate a progress report on the ASE 4 and ASE 3 wells.
After the ASE 4 was shut-in for the pressure buildup test, the well was immediately put back into production and the volume of oil and gas doubled in comparison to before the well was shut-in. The ASE 3 was shut-in and the same test was conducted. Over a slightly short time frame the gas production doubled and the oil volumes spiked to approximately 5 times.
To improve the rate from both wells, we have designed an acid stimulation that we expect will clean out the fracture created by the sand stimulation that was done earlier and opens up pathways in the rock matrix for the oil to get to the well bore more easily. The acid stimulation on the ASE 4 is expected to take place at some point in the next 2-3 weeks. The results will inform the design for the acid stimulation which is planned to be incorporated with the Lois 1 and Lois 2 sand stimulation and the upcoming ASE 7, ASE 8A and 8B wells.
Our team is supremely confident that by combining both the sand and acid together in conjunction with utilising Nano (NanoActiv) technology the Lois 2 will hit maximum production in the shortest timeframe possible.
