Latest news with #AXPEnergyLimited
Globe and Mail
25-02-2025
- Business
- Globe and Mail
Managing Director Appointment and CEO Resignation
FLORENCE, CO / / February 25, 2025 / AXP Energy Limited (ASX:AXP)(OTC PINK:AUNXF), (' AXP', ' Company') is pleased to confirm the appointment of Mr Dan Lanskey as Managing Director and Chief Executive Officer of the Company, effective 1 March 2025. It follows his appointment as a Non-Executive Director on 5 December 2024. Since his appointment, Dan has been actively involved in the development of the gas-to-power project in Colorado under a Joint Development Agreement with Blackhart Technologies. Dan's experience is set out in the ASX release dated 5 December 2025. The terms of his employment accompany this release as Annexure A. Concurrently, Tim Hart has made the decision to step down from his role as CEO at AXP. He has agreed to make himself available as a consultant to the Company as required and he leaves AXP with the Board's best wishes. Managing Director and CEO Dan Lanskey commented: "I have been on the ground in Colorado since early January working with our team and Blackhart Technologies on the successful implementation of our first gas-to-power site which is delivering generated power to Blackhart's ~530 bitcoin miners housed in two 40-foot containers. To date this has been a successful operation, and we are now planning a phased expansion targeting 25MW of gas-fired power generation by the end of Calendar 2025. AXP's ~750Bcf of contingent gas resources places the company in a unique position and underpins this growth strategy. We are working closely with our JV partners and other tech operators who are hungry for off grid power solutions. Importantly, we are intent on growing oil production from the Pathfinder Field and anticipate delivering meaningful revenue here in the coming months. AXP is well-placed in the near-term and I am excited by the opportunity to lead the Company. I am also committed to regular engagement with shareholders. What we have proven here in Colorado can be duplicated many times at scale in various jurisdictions in the future." AXP Chairman Sam Jarvis added: "Dan's appointment as Managing Director and CEO is a very pleasing development for AXP and he brings considerable energy to the Company at a critical time. He has indicated a willingness to base himself largely in the USA and will be very visible with our investors here and in Australia. On behalf of the Board, I would also like to thank Tim Hart for his service to AXP and we wish him well with his future endeavours. The Board is committed to unlocking AXP's value and this leadership appointment is integral to delivering on this." This announcement has been authorised by the Board of AXP Energy Limited. FURTHER INFORMATION Dan Lanskey, Managing Director and CEO: +61 (0)451 558 018 Sam Jarvis, Non-Executive Chairman: +61 (0)418 165 686 Released through Ben Jarvis, Six Degrees Investor Relations: +61 (0)413 150 448 ABOUT AXP ENERGY LIMITED AXP ENERGY Limited (ASX:AXP)(OTC PINK:AUNXF) is an oil & gas production and development company with core operations in Colorado. AXP is focused on repurposing stranded gas at its 100%-owned Pathfinder Field for power generation and plans to sell this power to data centre operators and owners focused on High Performance Computing (HPC) including AI, rendering and other high processor intensive operations. It has secured its first customer with Blackhart Technologies LLC. AXP has 24 operating oil & gas wells at its Pathfinder Field. DISCLAIMER This announcement contains or may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects", "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Hydrocarbon production rates fluctuate over time due to reservoir pressures, depletion, down time for maintenance and other factors. The Company does not represent that quoted hydrocarbon production rates will continue indefinitely. ANNEXURE A Biography Mr Dan Lanskey is an experienced executive who has held Senior Management positions and Director roles with public companies on the ASX, NASDAQ, TSXV and OTCQX exchanges. He has over 20 years' experience in equity capital markets across a diverse range of sectors including oil & gas, resources, information technology and life science, where he has overseen multiple Initial Public Offerings (IPOs) and capital raisings. In the oil & gas sector, Mr Lanskey was a founder and Managing Director/CEO of Austex Oil Limited (previously ASX: AOK), from 2007 until June 2014. During his tenure, the Company drilled over 50 successful oil and gas wells in Oklahoma and Kansas between 2009 and June 2014. Austex was a licensed oil and gas operator in Oklahoma and Mr Lanskey was an integral driver of the business from startup to successfully operating a number of oil fields in Kansas and Oklahoma. During this period, he also oversaw consistent revenue growth, which rose to more than $US30M per annum by FY2014. Mr Lanskey currently serves as a Non-Executive Director of TSXV listed Timeless Capital Inc. (TSXV:TLC) and NASDAQ listed Innovation Beverage Group (NASDAQ:IBG). More recently, he co-founded and served as Managing Director of Qmines Limited (ASX:QML), overseeing its successful IPO in 2021, and was also a Non-Executive Director of Macarthur Minerals Limited (ASX:MIO)(TSXV:MMC). Summary of material terms of appointment In accordance with ASX Listing rule 3.16.4, AXP Energy Limited advises the key terms of the appointment of Mr Dan Lanskey as Managing Director of AXP Energy Limited are as follows: View the original press release on ACCESS Newswire
Associated Press
13-02-2025
- Business
- Associated Press
Oil Production Update
FLORENCE, CO / ACCESS Newswire / February 13, 2025 / AXP Energy Limited (ASX:AXP)(OTC PINK:AUNXF), ('AXP', 'Company') is pleased to provide an update on the growth in oil production at the Company's 100%-owned Pathfinder oil & gas field located in Colorado's Denver-Julesburg ('DJ') Basin, USA. As per the highlights above, oil production from the Pathfinder Field is increasing as gas is produced from well bores for gas-to-power generation to support Blackhart Technologies' bitcoin mining operations. The Pathfinder #2 well is currently producing 20 BOPD and 280 MCFD of gas from the Niobrara Formation. This demonstrates the ability for additional production to be brought online over the coming months. Total field production now sits at ~50 BOPD and further upside to this is anticipated based on new wells coming online near-term. Additional gas production from the Amerigo Vespucci well has now been tied into the gas to power operation at the Pathfinder #2 production hub. This well will commence pumping operations as soon as the well head pressure stabilises; expected to occur within the next 7-10 days. With the ability to also push gas to the Generators, the Pathfinder #1 is now being prepared to be put into production. This well is to be completed in the Greenhorn Formation at about 5,200 feet. The well was recently fracked and capped for future completion after being drilled in 2018. During flowback, after completion of fracture stimulation, the well flowed back 75 barrels of oil during an initial 4-day test with no artificial lift. The initial oil recovery rates during flowback from the Pathfinder #1 represent a great result for AXP, given it marks the first time a well from the Greenhorn Formation has produced in this field. AXP expected to bring the Pathfinder #1 into production this quarter and other field development activities, such as deepening some existing wells, is also planned for the coming months. The scale-up of gas-to-power-data centre activities continues to be the key priority for AXP with additional sites planned as the Company looks to establish a new, significant revenue stream as more data centre sites are established. AXP Director Dan Lanskey commented: 'As our gas-to-power operations begin to take shape, AXP is capitalising on extracting greater volumes of enhanced oil production from the Pathfinder Field and the added production from the Pathfinder #2 well represents our first in phase in growing this revenue stream. We expect to bring the Pathfinder #1 well on in the coming weeks and we have more activities planned beyond this. The results from this well are significant steps for AXP as they confirm that we have another productive formation across our leases, the Greenhorn. Recent transactions for acreage in the DJ Basin underscores the potential value we can unlock as new production is proved up. With multiple stacked producing formations, this should show an increase in our Proven and Probable Reserves across our leases during the end of year review. 'Alongside our oil operations, we continue to focus on scaling up gas-to-power-data centre operations which will rapidly morph into a meaningful new revenue stream for AXP. The first site is performing well and we anticipate reporting further progress very soon. AXP is uniquely placed to repurpose much larger volumes of Pathfinder's gas for in-situ power generation for data centre owners and operators and interest in our operation is building considerably.' This announcement has been authorised by the Board of AXP Energy Limited. FURTHER INFORMATION Sam Jarvis, Non-Executive Chairman: 0418 165 686 Dan Lanskey, Non-Executive Director: 0451 558 018 ABOUT AXP ENERGY LIMITED AXP ENERGY Limited (ASX:AXP)(OTC PINK:AUNXF) is an oil & gas production and development company with core operations in Colorado. AXP is focused on repurposing stranded gas at its 100%-owned Pathfinder Field for power generation and plans to sell this power to data centre operators and owners focused on High Performance Computing (HPC) including AI, rendering and other high processor intensive operations. It has secured its first customer with Blackhart Technologies LLC. AXP has 24 operating oil & gas wells at its Pathfinder Field. DISCLAIMER This announcement contains or may contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements.' Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as 'expects', 'will,' 'anticipates,' 'estimates,' 'believes,' or statements indicating certain actions 'may,' 'could,' or 'might' occur. Hydrocarbon production rates fluctuate over time due to reservoir pressures, depletion, down time for maintenance and other factors. The Company does not represent that quoted hydrocarbon production rates will continue indefinitely.
