Dear Valued Investor Partners,
We hope this update finds you well.
DRILLING TIMELINE UPDATE
Current Status: We are 2nd in queue with the drilling contractor, and due to some delays affecting the drilling rig's prior commitments, our new drilling commencement date has been updated to the end of August, early September.
Site Preparation: Road and pad construction have commenced this week as planned. Weather permitting, we anticipate completion of site preparation in advance of the drilling rig's arrival.
STRATEGIC IMPORTANCE – ROAD TO REVENUE
The Lois Anne 1 well represents our first implementation of a comprehensive strategy to ensure all investors affected by the previous MXP situation can receive physical working interest in new wells and generate monthly income as soon as possible. This approach provides tangible asset ownership in wells that are in the pipeline to be drilled at our ASE Oddfellows oilfield in Oklahoma.
DATA-DRIVEN DECISION MAKING
Technical Planning: The AFE to drill and test the Wilcox formation (approximately 4,400 feet) has been finalized. This well will target multiple pay zones to provide comprehensive formation analysis across our field.
Multi-Zone Targeting: By drilling down to the Wilcox formation, as we have done on all past wells at the ASE oilfield, we will be able to log all other productive zones. This well will provide valuable comparative data to optimize our overall field development strategy, resulting in the selection of the very best productive pay zones to provide the highest ROI possible.
Formation Data Integration: The Lois Anne 1 well will provide critical formation data that will inform completion decisions for other wells in the oilfield. This methodical approach ensures we maximize production potential through comprehensive field analysis based on actual field performance rather than geological projections alone.
SITE INSPECTION UPDATE
Management Review: Dylan Knight and Chris Hemsworth conducted an on-site inspection this week, providing valuable insights on the project development. Dylan's on-camera assessment, which highlights the strategic importance of this well, has been shared at the bottom of this portal update.
Operational Readiness: The site inspection confirmed our operational readiness and validated our strategic approach to maximize the potential of this critical well in our development program.
ASE NEW INVESTOR PORTFOLIO MANAGEMENT PLATFORM
We are pleased to confirm that every investor has been sent a registration email to set up their individual platform access. You can now access your personalized investment portal via our website by clicking on the "Partner Portal" (located at the top right-hand side of the homepage) and selecting the drop-down box named "My Investment Account".
The new platform provides enhanced features, including real-time access to monthly statements, production reports, tax documents, and comprehensive investment tracking tools designed to improve your overall experience with ASE.
If you have any questions or require assistance navigating the platform, please contact Claudia Brugge at claudia.v@alphasevenenergy.com.
TAX DOCUMENTATION UPDATE
We are still waiting for the K-1 to be finalized by our accountant. Please rest assured that we are actively following up and pushing to have this completed as soon as possible.
We have already received most of the K-1s for the other limited partnerships, so we believe this one is imminent.
UPCOMING COMMUNICATIONS
Our next investor portal update will be released on September 11th (US time).
Best regards,
THE ASE TEAM
