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AXP Energy Limited (ASX:AXP)

ALERT: Price-sensitive ASX Announcement for AXP
Current share price for AXP : $0.007 0.006 (600%)+
Announcement
Release
24 Sep 2025 9:58AM
Price at Release
$0.001
Full Release
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Summary
AXP Energy Limited announced that the Charlie #1 Well in Oklahoma has reached its target depth of 4,725 feet with significant oil and gas shows recorded over a 290-foot interval across various geological formations. These formations include the Oswego Lime, Mississippi Chat, Mississippi Lime, Woodford Shale, and Wilcox Sands, each showing potential hydrocarbon presence. The well bore is being prepared for electric wireline logging to further evaluate the hydrocarbon potential. AXP Energy holds a 100% working interest and an 81.25% net revenue interest in the Edward Lease. This development is part of a broader operational plan that includes the possibility of further drilling across over 1,000 acres of lease area, contingent on successful results from the current well.
Key Points
  • Charlie #1 Well reached target depth of 4,725 feet.
  • Oil and gas shows recorded over 290-foot interval.
  • Significant shows in Oswego Lime, Mississippi Chat, Mississippi Lime, Woodford Shale, and Wilcox Sands formations.
  • Well bore being prepared for electric wireline logging.
  • AXP holds 100% working interest and 81.25% net revenue interest in Edward Lease.
  • Further drilling planned on 1,000-acre lease contingent on results.
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.