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AXP Energy Limited (ASX:AXP)

ALERT: Price-sensitive ASX Announcement for AXP
Current share price for AXP : $0.006 -0.012 (-66.67%)+
Announcement
Release
20 Nov 2025 9:25AM
Price at Release
$0.018
Full Release
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Summary
AXP Energy Limited announced the successful continuation of strong flowback at the Charlie #1 well in Oklahoma. The well has been producing a consistent casing pressure of approximately 1,400 psi and demonstrating a promising hydrocarbon content with an oil cut of around 10%. In response to these results, AXP is installing a separator and tank battery to enhance well control and facilitate the sale of natural gas due to favorable market conditions. This development marks a significant step towards optimizing the well's performance and generating early revenue. The company's strategy involves integrating its energy production with high-efficiency computing infrastructure, with plans for onsite crypto mining development. Operations are being conducted in compliance with Oklahoma Corporation Commission regulations, with no reported incidents.
Key Points
  • Strong flowback continues at Charlie #1 well with 1,400 psi casing pressure.
  • Hydrocarbon content includes ~10% oil cut and strong natural gas presence.
  • Installation of separator and tank battery to improve well control.
  • Immediate natural gas sales are planned due to favorable prices.
  • Early-stage revenue generation and onsite crypto mining development planned.
  • Operations comply with Oklahoma Corporation Commission regulations.
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.