Phase 7 (ASE 7)
Valued Partners,
Since the previous portal update, we have officially been approved and have received our operating license from the OCC (Oklahoma Corporation Commission). This is a positive step forward, however, the process to swap the current operator with ASE Operations LLC will take longer than expected. This is due to our legal team having to remove the current operator instead of simply replacing them. There is a legal process required to achieve this and we expect to have ASE Operations LLC as the official and registered operator of our Seminole County project in the coming weeks.
Once this occurs, there will be a portal announcement followed by a detailed roadmap to increase oil production and continue our drilling program.
Thank you once again for your patience and we look forward to providing more positive news in the next portal update.
