Phase 8 (ASE 8A & 8B)
Dear Investor Partners,
Here is a brief update on the status of our Seminole County project legal proceedings.
In light of recent developments, we wanted to update you on the situation. As previously communicated, MXP, the current operator, has filed for bankruptcy. In response, we have taken decisive steps to protect our interests. We have engaged a highly specialized law firm with expertise in bankruptcy cases to represent us in this matter.
Our team of bankruptcy lawyers has diligently crafted an objection to the Motion aiming to assume the operating agreement. This objection is being prepared for submission to the Bankruptcy Court for the Eastern District of Texas, where the proceedings are being held.
We are confident that these strategic actions will bolster our efforts to regain control as the designated operator of the Seminole County project.
As we navigate this complex process, we understand the importance of transparency. We will continue to keep you updated through this portal as significant developments unfold. Your support and confidence in Alpha Seven Energy are greatly appreciated, and we remain dedicated to delivering positive outcomes for all involved parties.
All investors should have access to the Cherokee Phase 1 portal, so please make sure you are keeping up-to-date with our Payne County project.
Warm regards,
The Alpha Seven Energy team
