AXP Energy Limited (ASX:AXP)

ALERT: Price-sensitive ASX Announcement for AXP

Current share price for AXP : $0.007 -0.009 (-56.25%)⁺

Announcement

Quarterly Activities/Appendix 5B Cash Flow Report

Release

31 Oct 2025 4:06PM

Price at Release

$0.016

Full Release

Summary

AXP Energy Limited reported its quarterly activities and cash flow for the period ending 30 September 2025. The company drilled its first vertical well in Oklahoma following the acquisition of 1,400 acres, with hydraulic fracture stimulation completed and waiting on flowback. AXP raised A$2.7 million through a two-tranche placement to fund exploration and development. Gross production for the quarter stood at 2,332 barrels of oil and 9,865 Mcf of gas, which was a decrease compared to the previous quarter due to extreme weather conditions and equipment shutdowns. Their financial overview shows net cash used in operating activities was $840,178, and they ended the quarter with $238,735 in cash and cash equivalents. Notably, the company raised additional funds through share placements and received refunds and oil receipts post-quarter, expecting these to support improved cash flows in the following quarter.

Key Points

Drilled first vertical well in Oklahoma.
Raised A$2.7 million through placements.
Gross oil production was 2,332 barrels.
Gross gas production was 9,865 Mcf.
Extreme weather affected production.
Ended quarter with $238,735 in cash.
Net cash used in operating activities was $840,178.
Post-quarter funding improvements expected.

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.