EXPLORATION AND FIELD DEVELOPMENT ACTIVITIESDuring the quarter, work focused on bringing the DPI-2605 well on pump with natural gas still being flared until tie-in to existing infrastructure is completed and contractual terms are agreed with a potential off-taker. Pipeline repairs, tie-ins to shut-in wells and swabbing of wells was also undertaken on the KayJay project and gains from this development activity will be realised this quarter.As reported last quarter, AXP is focused on a field development program on leases that contain 165 wells, diverse sales channels and where no material service or development work has occurred since 2007. The KayJay project sits within such a lease. Updates on the work program and the planned well recompletions will be provided as the program advances.E&E expenses of $31,642 were incurred during the quarter, related to site preparation works for the Elite Mining crypto mining operation.
D&P expenses for the quarter were $399,999, related to the DUC (DPI-2604 and DPI 2605) completions
AXP Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
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