Phase 8 (ASE 8A & 8B)
Valued Partners,
Per our strategy that was outlined in previous portal updates, here is the latest news on the ASE 4 well.
We are pleased to report that we have taken a positive step forward, because on Thursday our crew was pulling/preparing the pump to be reworked and we are scheduled to put the ASE 4 well back into production in the coming days. This will expedite the process to remove the remaining fluid from the acid stimulation and more importantly, with the well being back "on pump," it will then constantly draw on the Misener/Hunton formation, which Wayne Beninger (Geologist) has stated, on multiple occasions, is the key to increasing the oil cut and ultimately achieving peak oil production for the ASE 4 well and all other (current and future) ASE Seminole County wells.
The plan is to monitor the production over the coming weeks to ascertain the level of success the acid stimulation has had, and whether any small adjustments or improvements can be made. Once this event has occurred we plan to complete an acid stimulation on the ASE 3. After the ASE 3 well has undergone the acid stimulation and the results have been analysed and compared to the ASE 4’s results, the exact completion method will be finalised for the Lois 1 and Lois 2 wells. This will incorporate the very latest nano-technology and will combine both the sand and acid stimulations. The next step is to expedite the process to drill and complete the ASE 7 well, followed by the ASE 8A and ASE 8B wells.
Once again we would like to thank all our Investor Partners for their patience during this process and we look forward to updating you with the results of the ASE 4 in our next portal update.
