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$AUNXf..Membermark number 7 for your observation..
$AUNXf..Membermark number 7 for your observation..
Agree. Need eyes on this
And yet EEENF is what 80% higher with nothing to show.
$AUNXF..Welcome !!
hope there getting the diffculties straighted out
$AUNXF..Just so you know..Stocks with Q revs approaching 10 mil and without debt are as rare as photos of Elvis and Bigfoot at the same dinner party..
$AUNXF..Potential 20 bag material right here!
Thanks for your mark. Followed you back. $AUNXF
I didn’t right it boss
Lol its says it's no surprise that share price has been soaring lol
Thanks for the laugh
Not saying that it wont.imo it will however to put out an outright lie is shameful imo
$AUNXF Undervalued https://tinyurl.com/mry2s2s4
Shorts cover is my guess
It’s the otc
Interest turns in the blink of a eye
That report was great
Eeenf has a 15 bill os
85 mill mc
They have assets but they have never produced any oil
Go on twitter there’s good information on there
interest is gone<<<<$AUNXF..Interest can come back quickly-Best value in the OTC here!
No doubt. The news was good. The problem was that they led investors to believe that they would share results MONTHS ago… in particular about the DUCS. They failed to do it so they were sold/shorted.. interest is gone... too bad. Now what?
We’ll see.
No doubt. The news was good. The problem was that they led investors to believe that they would share results MONTHS ago… in particular about the DUCS. They failed to do it so they were sold/shorted.. interest is gone... too bad. Now what?
We’ll see.
The market cap is ridiculously low
$AUNXF..Real deal!
AXP DELIVERS SIGNIFICANT INCREASE IN RESERVES
AUNXF
+0.98%
Thu, September 29, 2022 at 8:55 PM·11 min read
In this article:
AUNXF
+0.98%
LEXINGTON, Ky., Sept. 30, 2022 /PRNewswire/ -- AXP Energy Limited (ASX: AXP, OTC US: AUNXF), ('AXP', 'Company') is pleased to provide an updated estimate of its Reserves and Contingent Resources as at 1 July 2022 (the 'Evaluation Date'). The Reserves and Contingent Resources ('R&R') below are net to AXP and its subsidiaries. The Company last reported on its R&R estimate for evaluation date 1 October 2021 in an announcement dated 26 November 2021.
Refer to Appendix 1 for a glossary of terms, the conversion rates used for gas and NGLs to oil equivalent and other important information related to this update.
The increase in the Company's 2P Reserves was 14% over only 9 months;
2P Reserves are comprised of 29.7 billion cubic feet of natural gas, 1.14 million barrels of oil and 1.18 million barrels of NGLs;
Importantly, the vast majority of AXP's Proved reserves are in the Producing and Developed category;
The maturation of AXP's Field Development Plan ('FDP') since the last evaluation date has contributed significantly to the increase in 2P Reserves;
Ongoing work to further enhance and refine the FDP, aimed at optimising its significant well inventory and gas behind pipe remains a key focus for the Company;
The 2C Contingent Resources of 211.95 million barrels of oil equivalent (MMboe) remains unchanged;
AXP is pleased to note a 3C Contingent Resource of 237 Bcf of gas in the Appalachian Basin where its main gas producing leases are situated.
Reserves
Proved reserves (1P) have increased by 2% which is attributable to multiple workover and pipeline projects, primarily focussed on oil production, completed throughout the year; as well as extended economic life due to increases in base product pricing. Further enhancements to the Company's FDP have resulted in an 89% increase in Probable Reserves, resulting in an aggregate 2P Reserves increase of 14% since 1 October 2021.
- ADVERTISEMENT -
AXP's Chief Executive Officer Tim Hart commented: "This update in our Reserves & Resources estimate clearly demonstrates that our leases hold considerable value and also possess outstanding upside. The value is reflected in the vast majority of Reserves being in the Proven and Developed category, giving us production certainty for many years to come, and the upside is evident from the large contingent gas resource that sits within our extensive Appalachian Basin leases. This clearly illustrates AXP's considerable unlocked value.
"We are particularly pleased to see Reserves & Resources increase so significantly in a short period of 9 months and this demonstrates that our workovers and larger field development activities are resulting in material additions to our underlying value. As this work is ongoing, we expect our Reserves to continue building. We look forward to sharing updates on operational progress in the coming weeks."
RESERVE CATEGORY
1 July 2022
OIL
[Mbbl]
GAS
[MMcf]
NGL
[Mbbl]
TOTAL
[Mboe]
Proved Developed (PDP & PDNP)
937
21,244
1,127
5,605
Proved Undeveloped (PUD)
20
138
-
43
Total Proved (1P)
957
21,382
1,127
5,647
Probable
179
8,325
55
1,621
Total Proved + Probable (2P)
1,136
29,707
1,182
7,269
Possible
879
10,359
534
3,140
Total Proved + Probable + Possible (3P)
2,015
40,066
1,715
10,408
Appalachian Basin Projects have been prioritized according to midstream partnerships where security and movement of the gas is the most reliable. These projects have included remedial and restorative production efforts to pipelines, workovers, production equipment optimization and well swabbing.
Illinois Basin projects were focused on completions of DUC's, workover projects, production equipment optimization and improvements at water processing facilities.
DJ Basin Projects have been concentrated on completion of the power generation solution for crypto mining along with various workovers and hot-oil operations to improve production rates.
Significantly, the vast majority of AXP's Proved (1P) reserves are in both the Producing and Developed category. Within the 2P category, a further 7.7 Bcf of natural gas has been assessed for the Appalachian Basin and 0.6 Bcf for the Illinois Basin. 10.4 Bcf of Possible natural gas was assessed, bringing the 3P category up to 40.1 Bcf. Refer to Appendix 2 for further details.
The above totals represent an aggregation of the assessed Reserves for the Company's 3 producing areas. A more detailed breakdown of the above, segmented by both basin and development status, is provided in Appendix 2.
Contingent Resources
CONTINGENT RESOURCE CATEGORY
OIL
[MMbbl]
GAS
[Bcf]
NGL
[MMbbl]
TOTAL
[MMboe]
Low Estimate (1C)
46.82
507.16
2.28
149.02
Mid Estimate (2C)
68.32
713.99
3.70
211.95
High Estimate (3C)
96.55
1,041.92
9.25
306.27
There was no change in AXP's 2C Contingent Resources from 1 October 2021 through 1 July 2022 with the aggregate assessment remaining at 211.95 million barrels of oil equivalent (MMboe) as field development was primarily focused on the build of reserves in each of the respective categories. Notwithstanding, the Company is pleased to note that 237 Bcf of the 1.04 Tcf high estimate (3C) for natural gas was assessed for the Appalachian Basin, where AXP's main gas producing infrastructure is situated.
Work programs being undertaken in the current fiscal year regarding current 2P development projects will solidify the need to revisit the Contingent category in subsequent annual R&R reports to adjust these cases accordingly. The ongoing projects are within reservoirs that are present in the vast majority of the acreage position across the Appalachian and Illinois basins.
The above totals represent an aggregation of the assessed Contingent Resources for the AXP's 3 producing areas. A detailed breakdown by producing area is provided in Appendix 2.
Qualified Petroleum Reserves and Resources Evaluator Statement
The above petroleum reserve and resource information is based on and fairly represents information and supporting documentation prepared under the supervision of Mr. Russell Hamilton (Vice President and General Manager of AXP Energy, Inc - US) by independent experts Wright & Company, Inc, Brentwood, Tennessee ('Wright').
Mr. Hamilton is a licensed professional geologist in the state of Tennessee (license number 5624) and has been employed by AXP Energy, Inc, Kentucky, since 2005 including in the position of Senior Geologist. Mr Hamilton has also held positions at the Kentucky State Department of Mines and Minerals (Oil & Gas Conservation) as an Oil & Gas Inspector and Hinkle Environmental as an Environmental Scientist and Project Geologist. He holds a Bachelor of Geology from the Eastern Kentucky University, Richmond, Kentucky and has over 20 years' experience in the Appalachian and Illinois Basins' hydrocarbon geology.
Wright's founder and President, Mr D. Randall Wright is a qualified Reserves Estimator as set forth in the Society of Petroleum Engineers ('SPE') "Standards Pertaining to the Estimating and Auditing of Oil and Gas Reserves Information" (2019). This qualification is based on more than 48 years of practical experience in the estimation and evaluation of petroleum reserves with Texaco, Inc., First City National Bank of Houston, Sipes, Williamson & Associates, Inc., Williamson Petroleum Consultants, Inc., and now Wright & Company, Inc, which he founded in 1988. Mr. Wright has a Master of Science degree in Mechanical Engineering from Tennessee Technological University. He is a registered Professional Engineer in the state of Texas (TBPE #43291), granted in 1978, a member of the Society of Petroleum Engineers (SPE), and a member of the Order of the Engineer.
Notes on Calculation of Reserves & Contingent Resources
The information prepared by Wright was prepared in accordance with the definitions and guidelines of the Petroleum Resources Management System, revised June 2018 ('SPE-PRMS 2018'), issued by the SPE and sponsored by (among others) the SPE, the World Petroleum Council ('WPC'), the American Association of Petroleum Geologists ('AAPG') and the Society of Petroleum Evaluation Engineers ('SPEE').
The estimates of reserves and resources contained in the independent experts' reports were determined by accepted industry methods as determined by the SPE-PRMS 2018, the Guidelines for Application of the Petroleum Resources Management System (SPE revision 2011) and the Standards Pertaining to the Estimating and Auditing of Oil and Gas Reserves Information (SPE revision 2019). The independent experts also reviewed certain properties that may have contingent or prospective resources as defined by the SPE-PRMS 2018.
Reserves and Contingent Resources reports are prepared using deterministic and probabilistic methods. The Reserves and Contingent Resources estimate methodologies incorporate a range of uncertainty relating to each of the key reservoir input parameters to predict the likely range of outcomes.
Under the SPE-PRMS 2018, Reserves are those quantities of petroleum anticipated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions. Reserves must further satisfy four criteria: they must be discovered, recoverable, commercial, and remaining (as of the Evaluation Date) based on the development project(s) applied. Reserves are further categorized in accordance with the level of certainty associated with the estimates and may be sub-classified based on project maturity and/or characterized by development and production status.
Categorization of Reserves according to the level of certainty associated with them is prescribed as follows:
Proved or 1P Reserves are those quantities of Petroleum that, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be commercially recoverable from known reservoirs and under defined technical and commercial conditions.
1P Reserves are further categorised by their development status, namely:
Proved Developed Producing (PDP) reserves are generally defined as estimated remaining quantities of oil and gas anticipated to be economically producible, as of a given date, by application of development projects to known accumulations under existing economic and operating conditions;
Proved Developed Non-Producing (PDNP) are proven resources that can be expected to be recovered through existing wells and existing equipment and operating methods;
Proved Undeveloped (PUD) reserves are proven reserves that are expected to be recovered from new wells on undrilled acreage or from existing wells where a relatively major expenditure is required for completion.
Probable Reserves are those additional Reserves which analysis of geoscience and engineering data indicate are less likely to be recovered than Proved Reserves but more certain to be recovered than Possible Reserves. It is equally likely that actual remaining quantities recovered will be greater than or less than the sum of the estimated Proved plus Probable Reserves (2P).
Possible Reserves are those additional reserves that analysis of geoscience and engineering data suggest are less likely to be recoverable than Probable Reserves. The total quantities ultimately recovered from the project have a low probability to exceed the sum of Proved plus Probable plus Possible (3P).
Contingent Resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, by the application of development project(s) not currently considered to be commercial owing to one or more contingencies. Contingent Resources have an associated chance of development. Contingent Resources may include, for example, projects for which there are currently no viable markets, or where commercial recovery is dependent on technology under development, or where evaluation of the accumulation is insufficient to clearly assess commerciality.
Contingent Resources are further categorized in accordance with the range of uncertainty associated with the estimates and should be subclassified based on project maturity and/or economic status and have denotations such as 1C (low risk), 2C (same technical confidence as probable reserves but not commercially matured to reserves), and 3C (same technical confidence as possible reserves, but not commercially matured to reserves).
AXP has identified several potential upside projects that target deeper horizons known to be productive, but have not been exploited at this time. These were assessed and the estimate gross reserves potential and assigned to the 1C, 2C, or 3C category based on available data, risk of development, and geologic control.
Project and field totals are aggregated by arithmetic summation by category. Aggregated 1P and 1C estimates may be conservative, and aggregated 3P and 3C estimates may be optimistic due to the effects of arithmetic summation.
This announcement has been authorised by the Board of AXP Energy Limited.
END
FURTHER INFORMATION
Tim Hart Chief Executive Officer: +1 (303) 999-5420
Sam Jarvis, Non-Executive Director: 0418 165 686
ABOUT AXP ENERGY LIMITED
AXP ENERGY Limited (ASX: AXP) is an oil & gas production and development company with operations in Colorado, Illinois, Kentucky, Tennessee and Virginia. AXP's focus is to aggressively grow daily production by improving current asset performance and opportunistically acquiring onshore USA oil & gas assets with the following characteristics: producing conventional oil & gas wells; production that can be enhanced through low-cost field operations and workovers; leases which are held by production and which do not require ongoing drilling commitments; and economies of scale which can be achieved by acquiring and carrying out similar enhancement strategies on contiguous or nearby fields with similar characteristics.
That’s a great idea! Might happen. $AUNXF
Lol sometimes a run comes out of nowhere
Like some storms
Be well and be safe
This could fly one of these days<<<<$AUNXF..Watching grass grow and paint dry were the two things ranked above buying AUNXF shares in the "Exciting things to do" poll..
This could fly one of these days
They need to do a buyback
Is that what they told you? AUNXF is past that step in terms of it being worth .03+. We just need management to fix the dissemination of info/ public awareness. But they are doing a good job paying the IR to keep shareholders at bay with rederick.
If they truly seeked the welfare of shareholders they would care for a well rounded company. But there is a devoid as it relates to the share price. And most are oblivious
$AUNXF!>>>>>Former Keystone XL Pipeline worker says Biden, green agenda could lead to fuel shortages
Neal Crabtree said the US has 'enough natural gas to solve this problem'
By Bailee Hill
Former pipeline worker on low fuel inventories: We have 'enough natural gas' to 'solve this problem'
NEW
You can now listen to Fox News articles!
A former Keystone XL Pipeline worker pinned blame on both the Biden administration and climate activists as the Northeast battles low fuel inventories, prompting concerns of a potential energy catastrophe.
Neal Crabtree joined "Fox & Friends First" to discuss why he believes both parties bear responsibility as some worry severe weather in the coming months could prompt a fuel emergency.
"It's a combination of that and the combination of a lot of what the environmentalists have done over the past decade that got us in the situation we are right now," Crabtree told co-host Ashley Strohmier. "President Biden, he killed our job on the Keystone. I'd love to blame everything on him but, I've got to be fair, it's been going on for about a decade with environmentalists."
WHITE HOUSE: ‘NO PLANS’ TO ALLOW KEYSTONE XL PIPELINE, DESPITE SAYING ALL OPTIONS ON TABLE FOR OIL PRICES
Crabtree also cited a lack of investment in energy infrastructure as also to blame for the low inventories seen today.
Crews work on a right of way for the Keystone XL pipeline near Oyen, Alberta, Canada, on Wednesday, Jan. 27, 2021. Photographer: Jason Franson/Bloomberg via Getty Images
Crews work on a right of way for the Keystone XL pipeline near Oyen, Alberta, Canada, on Wednesday, Jan. 27, 2021. Photographer: Jason Franson/Bloomberg via Getty Images (Jason Franson/Bloomberg via Getty Images)
"I think… over the years the lack of development in our energy infrastructure that… with things like tropical activity in the Gulf Coast and even major winter storms, that there's always that potential," Crabtree said.
"Early last year when the Colonial Pipeline was hacked, and it was shut down, I was hoping that would draw enough attention just to show… how vulnerable our infrastructure, especially up here in the Northeast is where we have such a heavy… big population… relying on just a few small pipelines," he continued.
CLICK HERE TO GET THE FOX NEWS APP
Tucker Carlson: There is an energy shortage in EuropeVideo
Critics have repeatedly accused Biden of paving a war on American energy, citing his decision to cancel the Keystone XL Pipeline and relying on foreign adversaries to make up the difference.
"The most frustrating part about this whole thing is… we've spent the last decade developing the Marcellus Shale," Crabtree "Natural gas is one of the biggest natural gas reserves in the world, and even after a decade, we're still talking about lack of heating oil in the Northeast when we've got enough natural gas to solve this problem."
I am stuck in this thing until the public finds it. It is worth over .03 in my opinion where it stands Now. All the company has to do is disseminate the info / public awareness. They don't need to reach a $10M milestone..
Now, can you address the other issues that I brought up?
They don't give a damn about you<<<<$AUNXF..If you believe that why are you still here? You have options!
$AUNXF..Oh My!
If this analysis is correct?
And AXP straightens out their mid stream bottleneck problem...
then this stock will explode
https://blog.gorozen.com/blog/the-global-natural-gas-crisis-is-coming-to-north-america
futr
Did anyone try to message the CEO on twitter only to find out he doesn't open his inbox? This is in line with what I have been showing you all all these months; that management is not in line with shareholders. They don't give a damn about you or your shares. They haven't bought through the 80% decline.
They are getting a paycheck and that is all that counts. read my message history on this board.
$AUNXF..I dont think people realize exactly what we have here..Its a beast! a unicorn! There is nothing out there out of thousands of companies that you could get for the value ,price or potential!
Lots of great insight shared in this discussion
$AUNXF..Management focus is on growing productivity of existing assets..Some may not have the patience for waiting..I call it a blessing to be able to accumulate cheap shares over an extended period..
yup. I don't bother looking at the price or board. I made my case here with no logical response. Management doesn't give a damn about the pps. They won't buy it. Shareholders are just a tool. They hired a guy just for rederic; to keep shareholders at bay. What's important here is for them to get their paychecks. a 70% decline in pps doesn't mean they should change anything even if it means little time and money. Like getting their pr out on substantial news outlets like globenewswire, pr newswire etc.
This is already making enough for .05+ pps but without management giving a damn about throwing shareholders a bone it's been down and stayed down in the .004's. The touting on this board doesn't do anything but spam it.
here we are with high oil and nat gas prices, great revenues, and languishing in the .004's..
Oh yea!>>>$AUNXF Webinar announcement ?? cdn-api.markitdigital.com/a...
What a shit show
$AUNXF @ .0049!<<<.0051!
Buyback shares will come<<<<$AUNXF..We have time for that..STRONG BUY!
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