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Aspen Oil and Gas | 51 Upstream Energy Fund

Actively Raising

Overview

Aspen Funds is pleased to present, 51 Upstream Energy Fund VII (“51 UEF” or “Fund”), a $75MM+ diversified oil & gas fund focused on investing in what we believe to be the best risk- adjusted opportunities. This Fund will be focusing on investing in a combination of existing producing assets for current cash flow (PDP) along with acreage for new drilling for upside value (PUD). We’ll be targeting multiple basins. The Fund will generally be focused on investing in non- operating working interests (“NOWI”) and overriding royalty interests (“ORRI”). This reduces operational risk but gives the opportunity to participate in new drilling programs. Download the investment offering or learn more at AspenFunds.us/UEFVII

Accepted Investors

Accredited

Qualified Purchaser

Family Office

Raise Close Date

9/1/2025

Regulation Type

506C

Deal Type

Fund

Asset Location(s)

Oklahoma

Asset Class(es)

Oil & Gas

Details

Target Raise$75M
Close Date9/1/2025
Min Investment$150,000
Target IRR25% - 35%
Target Hold Period7 years - 10 years
Target Equity Multiple4x - 5x
Target Cash-on-Cash15% - 25%