Past year: ▼ 69%(0.40c – 1.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
15 June 2026farm in farm out agreement▲ GoodMajor
AXP secured a right to earn 25% of Syria's 10,039 km² Block 9 from operator Simpora Latakia (75%). It paid a US$100K deposit, owes US$1m within 60 days, and plans two wells in 2027. Resource figures are historical prospective estimates from former holders, not AXP's.
22 Oct 2025drilling progress report▲ Good
Charlie #1 was hydraulically fractured in the Mississippi Lime, perforated 4,417-4,588 ft, with about 5,610 bbl of fluid and 50,060 lb of sand pumped without incident. The well is shut in to soak; flowback starts next week. No flow rates yet.
1 Oct 2025drilling result▲ Good
Wireline logs on Charlie #1 confirm hydrocarbons in several zones, including 260 ft of shows in the Mississippi Lime, and 5.5-inch casing is set. Fracturing is planned for the week of 20 October, with production targeted by end-October. Commerciality is still unproven.
30 Sept 2025resource reserve update▼ BadMajor
At 1 July 2025, proved reserves (1P) rose 19% to 76 Mboe, from gas booked at Pathfinder 2 and JW Powell. Contingent resources (2C) fell 66% to 69.5 MMboe, as AXP chose not to extend a Colorado sub-lease.
24 Sept 2025drilling result▲ GoodMajor
Charlie #1 reached 4,725 feet with oil and gas shows over about 290 feet of Mississippi Lime and Chat, plus Woodford Shale and Wilcox Sands. Wireline logs and completion decisions are pending, so commerciality is not yet established.
22 Sept 2025drilling progress report▲ Good
Charlie #1 recorded live oil and gas shows in the Oswego Lime (3,776-3,806 ft) and Mississippi Chat (4,293-4,317 ft) while drilling toward 4,720 feet. Shows are encouraging but unconfirmed; logging and testing are still needed to show whether the well is commercial.
18 Sept 2025drilling spud▲ GoodMajor
Charlie #1, AXP's first Oklahoma well, spudded on 17 September 2025, with surface casing set at 260 feet. It targets 4,720 feet in 7-10 days across stacked Mississippian and Pennsylvanian zones. AXP holds 100% working interest and 81.25% net revenue interest.
11 Sept 2025drilling scheduled▲ Good
Site work has begun on Charlie #1, the first of two Oklahoma vertical wells, planned to 4,700 feet. AXP holds 100% working interest and 81.25% net revenue interest in the Edwards Lease. It is funded from the A$2.7M placement.
20 Sept 2024resource reserve update● NeutralMajor
At 1 July 2024, Colorado-only proved and probable reserves are 64 thousand barrels of oil, with gas reserves now zero because the gas market is uncertain. All gas moves into contingent resources of 202 MMboe (about 744 Bcf gas, 78 million barrels oil), down 5% on last year's 212 MMboe.
29 Sept 2023resource reserve update▼ BadMajor
Reserves at 1 July 2023: 2P down 10% to 6.54 MMboe (from 7.27), with 1P at 5.08 MMboe. Low prices pushed all proved undeveloped reserves into contingent resources. 2C contingent resources are about unchanged at 212.07 MMboe. This reverses last year's 14% gain.
30 Sept 2022resource reserve update▲ GoodMajor
Reserves as at 1 July 2022: 2P up 14% in nine months to 7.27 MMboe (from 6.37), with probable reserves up 89% and 1P up 2% to 5.65 MMboe. 2C contingent resources unchanged at 211.95 MMboe; 3C includes 237 Bcf of Appalachian gas. Delivers the flagged reserves report.
3 Mar 2022drilling progress report▲ Good
DPI-2604 was fracked on 11 February with hydrocarbon shows in recovered fluid; DPI-2605 was fracked in two zones, with flowback awaiting weather. No flow rates yet. Smaller workovers lifted oil to over 300 BOPD from 261, and the Dacy well is still due this month.
3 Feb 2022drilling progress report▲ Good
The first two Illinois Basin drilled-but-uncompleted wells, idle for 14 years, are perforated and flowing naturally, with fracking due next week. Seven more such wells are identified, and the first new infill well on the Dacy Lease is due in March, following the November drilling-division plan.
26 Nov 2021resource reserve update▲ GoodMajor
First reserves booking including the MHP and Trey acquisitions: 2P reserves rise to 6.37 MMboe from 0.124 MMboe. 2C contingent resources rise to 211.95 MMboe from 192.93 MMboe. Delayed reports now delivered; figures are for current producing formations only.
4 Nov 2021drilling scheduled▲ GoodMajor
AXP has formed an in-house drilling division to run an internally funded 4+4 vertical well program on four Illinois Basin leases, targeting 2,150-3,600 feet. Permits are pending, with drilling due in the coming weeks, aiming to lift oil production beyond workovers alone.
12 Feb 2021drilling result▲ Good
The first nine of 20 planned Trey workovers (chemical treatments) added about 15 barrels a day, lifting Trey from ~75 to over 90 BOPD, roughly 20%. Five more workovers are under way and three refracture jobs are added, the first starting by end February.
13 Jan 2021drilling progress report▲ Good
A 21-well workover programme has started on the Trey leases bought in October 2020, which produce about 71 barrels a day from ~115 wells. First results are due end of January. Management says WTI above US$50 makes the leases more valuable.
12 Dec 2019drilling scheduled● Neutral
Permits are filed for three Pierre wells (Captain Cook, Sally Ride, Balboa), with the first spud now expected in January 2020; two more are to follow, giving five wells through May 2020. Vespucci has production approval, pending combustor installation due within a week.
19 Nov 2019resource reserve update▲ GoodMajor
The updated Gustavson report lifts Pathfinder's 1C (P90) contingent resource to 182.4 million boe: oil up 12% to 60.6m barrels, gas up 13% to 609 Bcf. NPV10 of reserves rose 98% to US$34m. This delivers the upgrade flagged since September; the new acreage is excluded.
29 Oct 2019drilling scheduled▲ GoodMajor
3D seismic interpretation identified nine targets in the shallow Pierre Formation (~4,000 ft). Permits are lodged for a three-well programme, with two wells planned to spud this quarter. Vespucci remains shut in awaiting its production permit; industry partners are being assessed for Niobrara joint development.
16 Sept 2019drilling progress report▲ Good
First hydrocarbon shows appeared at Vespucci #1 over the weekend, with about 13% of stimulation fluid recovered. About 30% is typically recovered before an initial production rate can be set.
12 Sept 2019drilling progress report● Neutral
Vespucci #1 flow-back equipment is installed and hydrocarbons are expected within weeks. Fremont says work has begun on an updated resource report, with a material upgrade to the current P90 450 Bcf figure likely and publication expected next month.
10 Sept 2019drilling progress report● Neutral
Vespucci #1 is flowing back stimulation fluid and now has a pump jack installed. Five stages hit all four Niobrara benches, versus one stage at Powell. The IP rate is still to come; the CEO also says the seismic found shallower targets.
13 Aug 2019drilling progress report● Neutral
Vespucci #1 stimulation is complete: five frac stages between 5,100 and 5,500 ft in the Niobrara. Flow-back lasts about 21 days, after which an initial production rate is expected. This ends the stimulation step but gives no flow result yet.
25 July 2019drilling progress report▼ Bad
Vespucci #1 stimulation, expected the week of 16 July, is delayed by 'minor operational delays' to early next week. It is a further slip with no new results.
16 July 2019drilling progress report● Neutral
Radial tunnels are now drilled into the Vespucci target zones, with the main frac due later that week. Gas offtake talks are said to be progressing favourably, though still unsigned after an extended period. A Kinder Morgan pipeline tie-in is also being pursued.
2 July 2019drilling progress report● Neutral
Schlumberger is again collaborating, using radial jet drilling to cut tunnels into four Niobrara benches and one Codell zone before a multi-zone frac. Frac crews mobilise in coming days. IP rate is still to come.
26 June 2019drilling progress report● NeutralMajor
Completion has begun on Vespucci #1, with a multi-stage frac of the Niobrara and Codell. Greenhorn stimulation is dropped because unstable shale above it risked the main Niobrara target. This narrows the earlier plan to stimulate all three zones.
13 June 2019drilling result▲ GoodMajor
Vespucci #1 logs indicate oil and gas in three zones: Niobrara 546 ft, Greenhorn 92 ft and Codell (stated as 77 ft in the headline, 72 ft in the text). Free oil continues to enter the well. Stimulation of all three zones is under assessment; no flow rate yet.
5 June 2019drilling result▲ GoodMajor
Vespucci #1 intersected crude oil: 154 of 199 joints of drill string (4,620 ft) came out covered in oil. The company sees early signs of a fracture network producing oil under pressure. Logging expanded to all four Niobrara benches, Codell and Greenhorn. No flow rate yet.
