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AXP Energy Limited (ASX:AXP)

ALERT: Price-sensitive ASX Announcement for AXP
Current share price for AXP : $0.006 0.005 (500%)+
Announcement
Release
22 Sep 2025 10:58AM
Price at Release
$0.001
Full Release
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Summary
AXP Energy Limited has announced that oil and gas shows have been encountered in the Charlie No.1 Well in Oklahoma, USA. The well, spudded on 17 September 2025, revealed promising hydrocarbon indications across two formations: the Oswego Lime and the Mississippi Chat. These formations showed signs of oil and gas through various indicators such as live stains, fluorescence, and gas bubbles. The well is part of AXP's strategy to replicate its Gas-to-Power operations from Colorado. Further evaluation including electronic logging, fluid sampling, and potential flow testing will assess the commercial viability of the site.
Key Points
  • Oil and gas shows recorded in Oswego Lime and Mississippi Chat formations.
  • Active hydrocarbon shows include live stains and fluorescence.
  • Further evaluation will be conducted as the well reaches target depth.
  • The well is part of AXP's Gas-to-Power strategy.
  • AXP holds 100% working interest and 81.25% net revenue interest in the lease.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.