Dear Valued Investor Partners,
We hope this update finds you well.
Building on our January portal update, we are pleased to provide a comprehensive update on developments in Seminole County. As outlined in our "Road to Revenue" video, all Limited Partners will be provided ownership in the next six wells at our Seminole County project.
ASE Lois LP Launch
- We are pleased to announce that ASE Lois LP will officially launch at the beginning of next week.
- Several investors have already expressed strong interest in participating.
- As always, current investors will have the first right of acceptance.
- While we understand that not all investors may wish to redeploy additional capital, we emphasize that:
- The faster we raise capital, the sooner we can drill the Lois Anne 1 well, followed by the remaining five wells (Lois Anne 2, 3, 4, 5, 6).
- Our goal is to drill the first well in Q2 2025, then one well every 10–12 weeks as momentum builds.
Optimized Drilling Strategy & Production Insights
- Geological Confidence: Our geologists and industry experts have identified up to five hydrocarbon-rich pay zones within the Seminole County oilfield.
- ASE 2 Well Performance:
- Dual completion in the Woodford Shale and Hunton Formation.
- February Sales: 411 barrels of oil and 1,096 MCF of natural gas.
- Initial production results are very promising.
- ASE 3 Well Performance:
- February Sales: 950 barrels of oil and 2,560 MCF of natural gas.
- The well is currently choked back by 50% to:
- Maintain consistent and manageable wellhead pressure.
- Protect the formation’s integrity and longevity.
- Minimize annual production decline.
If fully opened, production could potentially double. However, we have chosen a strategic approach to minimize operational downtime caused by high pressure, prevent overloading the sales line with gas, and ensure sustainable long-term oil and gas production.
Next Steps & Investor Outlook
- Based on recent data and production trends, we are confident in selecting the most optimal drilling locations to maximize oil production and generate a consistent monthly income stream for investors.
- As we approach the final site selections and permitting phase, we will provide further updates.
We appreciate your patience and continued support. We are eager to bring all investors into monthly revenue as soon as possible.
Best Regards,
The ASE Team
