AXP Energy Reports Positive Early Flowback From Charlie 1 Well

AXP Energy Limited (ASX: AXP) reports encouraging early results from the Charlie #1 well in Noble County, Oklahoma, where a pump jack has now been installed and flowback of frack fluids is progressing strongly. After an initial eight-hour pumped recovery phase, the well transitioned to natural flow under choke, stabilising at approximately 300 psi wellhead pressure. Samples taken at the wellhead indicate an initial oil cut and 240 psi of gas pressure on the annulus, aligning with expectations for the Mississippi Lime Formation.

The well is the first drilled across this formation under AXP’s broader Oklahoma development strategy. Installation of production tubing, rods and downhole pump is complete, enabling controlled fluid recovery and hydrocarbon inflow assessment.

AXP expects to report initial production (IP) results in 10–14 days, followed by stabilised multi-day rates to guide future drilling and completion programs across the company’s acreage.

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