AXP Energy completes installation of 320 kW generator

• AXP Energy completed the installation of a 320 kW natural gas-powered generator and data mining equipment at its Oklahoma operations.
• The setup establishes a new revenue stream while providing extra gas processing capacity to allow oil flow testing at the Charlie #1 well.
• A 10-day oil flow testing programme is scheduled to begin this week to optimise oil production while fuelling onsite operations.

AXP Energy (ASX:AXP) completed installation of an initial 320 kW natural gas-powered generator and digital mining setup at its Oklahoma site on Aug. 31.

The new system processes gas previously limited by sales line capacity to power third-party data mining infrastructure, with 99% uptime recorded.

The expanded water handling capacity enabled initial flow testing at the Charlie #1 well, which produced 11 barrels of oil an hour during choked-back testing.

AXP Energy Managing Director and CEO, Daniel Lanskey, said, "We are now using gas produced at the well site to power an initial 320 kW genset and operate third-party ASIC miners, with connectivity provided through Starlink."

Wellhead pressure recovered to 200 psi within five minutes of casing shut-in following the initial flow test.

The company stated that a 10-day testing programme starting this week will seek to optimise oil flow while maintaining gas supply for site equipment.

Following the announcement, the AXP Energy share price was unchanged at $0.0050.

The Oklahoma operations convert site-produced natural gas into electricity to establish scalable power infrastructure for potential future expansion.