Alpha Seven Energy has commenced production from the Seminole County Phase 1 development. Project approval was granted by the Oklahoma Corporation Commission who has since approved the drilling and completion for Phase 2 and 3.
The current gas production rate is 520 mcfpd (approx. $569,000 USD pa) which is approximately twice the rate of the offset well. This well is currently producing gas only and is anticipated to flow oil in the coming weeks. Gas is sent directly to the purchaser and revenue from production is paid monthly. Future drilling locations are selected based on the current geological, drilling and production data collected from completing each individual well.
With strong geological and technical data and proven production from producing wells, a high level of confidence is maintained about the projects level of success and profitability.
Photo: ASE#1 well Seminole County, Oklahoma.
Seminole County Phase 5 is open for investment. The capital raising is now open to new investors for a limited time only. It is anticipated that funding will be completed by 30th November 2020. The primary exploration objective will be to develop the Misener and the Booch Sand formations under the prospective location. This is a unique opportunity for investors to access a turnkey project and mitigate risk by developing proven oil and gas reserves that have multiple stacked pay zone opportunities. The required rate of return is estimated at 387%-769% over the life of the well.
Photo: Drilling ASE#3 well Seminole County, Oklahoma.
About the company
Alpha Seven Energy (ASE) is a privately-owned energy company with offices in Dallas, USA and Sydney, Australia. ASE focuses on developing oil and gas assets in proven oil fields with significant upside potential in the United States of America.
ASE is offering the opportunity to participate in the drilling, testing, completion, and operation of oil or gas wells in Seminole County, Oklahoma (accredited investors). The primary exploration objective is to develop and produce from the Misener and Booch Sand formations.
This year alone, ASE has fully funded Seminole County Phase 1, 2, 3, and 4, raising over $4 million USD.
Photo: Senior Partners: Grant McLoughlin (COO), Dylan Knight (Co-Founder), and Peter Fagan (CFO)