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AXP Energy ( (AU:AXP) ) just unveiled an announcement.
AXP Energy Limited has successfully completed the installation of a pump jack on the Charlie #1 well in Noble County, Oklahoma, marking a significant step in its operations. The well is showing promising early results with natural flowback under choke and initial hydrocarbon indications, aligning with expectations for the Mississippi Lime Formation. The company anticipates reporting initial production rates soon, which will provide valuable data for future drilling and completion programs. This development is part of AXP’s broader strategy to enhance its oil production and utilize regional gas resources for power generation.
More about AXP Energy
AXP Energy Limited is an oil and gas company involved in the exploration and production of hydrocarbons, with a focus on converting regional gas resources into power for high-demand computing applications and establishing stable oil production. The company operates primarily in the Oklahoma region, targeting formations like the Mississippi Lime.
YTD Price Performance: -50.0%
Average Trading Volume: 737,874
Technical Sentiment Signal: Sell
Current Market Cap: A$4.89M
See more insights into AXP stock on TipRanks’ Stock Analysis page.