Overview of AXP Energy's Colorado activities and future plans

AXP Energy Limited (ASX: $AXP) has provided an update on its Colorado activities over the past 12 months and outlined a forward work plan for its Pathfinder Field. The company recently closed the sale of its non-Colorado oil and gas assets and is now focusing on enhancing the performance of its core Colorado asset.

Executive Commentary on Colorado Project and Future Strategy

The Company has been diligently working to improve the performance of its Pathfinder Field in Colorado while managing costs and preserving capital. We are pleased to announce the progress made in the past 12 months and our plans to accelerate activity within this core asset. The focus on enhancing gas sales channels and increasing oil production aligns with our strategy to aggressively grow daily production and opportunistically acquire onshore USA oil & gas assets.

Summary of AXP Energy's Forward Plans and Outlook

AXP Energy's focus on the Pathfinder Field in Colorado, including plans to purchase gas-fired generators, secure permits for gas turbine operation, negotiate a connection to the Colorado electricity grid, and explore gas sale opportunities, demonstrates the company's commitment to enhancing its production capabilities. The company aims to recover its costs within a 12-month period and significantly increase annualized revenue through successful execution of the business plan. Additionally, AXP Energy intends to maintain financial flexibility to identify and acquire complementary oil and gas producing assets in the United States, aligning with its long-term growth strategy.