Phase 8 (ASE 8A & 8B)
Valued Partners,
Continuing on from the portal update at the end of October, our legal team is still in the process of removing the current operator, so we (ASE Operations LLC) can take the rightful position of operator for the Seminole County wells. Unfortunately, this process is taking longer than expected, but our lawyers are confident that we will get this situation resolved very early next year.
This month, ASE's senior management team was in the US and conducted multiple meetings, which included time at the OGP office and meeting their top-level management. OGP Operating will be the company that will be conducting the day-to-day operations at Seminole County and assisting in developing the project. OGP is a family-owned business with a fantastic reputation and a proven track record. During our meeting they stepped us through the basic plan once ASE Operations is officially the operator on record. Once we are the operator it is our intention to maximise oil and gas production from the current ASE wells and to continue to develop the project, ensuring we are able to extract the maximum volume of hydrocarbons in the shortest timeframe possible.
We would like to thank everyone for their understanding and patience regarding the delays and we would like to ensure all investors that we are working diligently on all fronts to achieve the best outcome for our investor partners.
Please note that both ASE offices will be closed from the 23rd of December 2022 to the 6th of January 2023, and the next portal update will be on or before the 31st of January. From the whole team here at Alpha Seven Energy, we would like to wish all investor partners and their families a very merry Christmas and here's to a prosperous 2023.
