Phase 8 (ASE 8A & 8B)
Valued Partners,
Following on from our previous portal update, we are still in a holding pattern regarding the recommencement of the Lois 2 well's drilling operations. Currently, we have drilled down to a depth of 840 ft and have cemented the casing, which has been cured. Due to the major tornado which devastated the town of Seminole a few weeks ago as well as other logistical factors, we are likely still a few weeks away from completing the drilling procedure, which has a TD (target depth) of 4,300 ft.
On a positive note, our petroleum engineer and geologist have started to analyse some of the data from the pressure test results, and even though we are still waiting on other results to be provided, our team is extremely confident that an acid stimulation will be the solution to get the Misener/Hunton wells to peak oil production. The benefit for the Lois 1, Lois 2, ASE 7 and ASE 8A and 8B wells is that we believe we can combine the sand stimulation with the acid so as to complete both processes at the same time, thus giving us a high probability of achieving peak oil production in the short timeframe possible.
