AXP Energy Limited (‘AXP’, ‘Company’) is pleased to confirm that a full
suite of electronic wireline logs has been successfully run, and 5½-inch casing has been set and
cemented on the Charlie #1 Well in Noble County, Oklahoma.
Electronic logs confirm the presence of hydrocarbons across multiple pay zones. Planning for
completion of the well is underway including the design of a staged hydraulic fracturing of the
Mississippi Lime interval between 4293 feet and 4623 feet. The well is to be completed for
production over the coming weeks.
Geological Shows & Lithology
? Oswego Lime (3,776–3,806 ft): Oil and gas shows recorded over 10 ft.
? Mississippi Chat (4,293–4,317 ft): Oil and gas shows recorded over 24 ft.
? Mississippi Lime (4,403–4,623 ft): Oil and gas shows recorded over 260 ft.
? Woodford Shale (4,623–4,662 ft): Oil and gas shows recorded over 39 ft.
Managing Director & CEO Dan Lanskey said: “Now the well has been cased, we are moving to
the next stage of operations which is to complete the Charlie #1 for production. Our team is
reviewing the data and samples from the well and we are working with our contractors to design
an adequate multi-stage frac job across key intervals of the Mississippi Lime formation. Hydraulic
Fracture Stimulation is scheduled for the week commencing Monday 20th October 2025, and
we expect the well to be in production by the end of October.
We will then be able to report on initial flow rates of oil & gas. We have run to a tight schedule
for the last few weeks to drill and case this well and it is a credit to the local contractors on their
efficiency and professionalism.
Additional wells on this lease are planned over the coming 12 months as the logs confirm the
highly prospective nature of the laterally extensive 300-foot-thick Mississippi Lime formation
across this region of Oklahoma and our lease holdings.”
Next Steps & Operations
? Review and analyse all well data and logging results.
? Design the completion program.
? Completion will include hydraulic fracturing of identified prospective intervals.
Drilling Progress & Schedule
? Spud Date: Tuesday, 16 September 2025.
? Total Vertical Depth (TVD): 4,725 feet reached 9.30pm Monday, 22 Sep. 2025.
? Logs and Casing completed and rig moved off location 25/26 September 2025.
? Location & Lease: Edward Lease (~1,000 acres), Kay/Noble County, Oklahoma.
? Working Interest: 100%.
? Net Revenue Interest: 81.25%.
This announcement has been authorised by the Board of AXP Energy Limited.