We refer to your letter of 16 September 2021 on the above subject. Please see our responses to each of your queries, as follows:
Disclosure Document – Notice under Section 708A
On 14 November 2018, AXP Energy Limited completed the issue 257,551,591 fully paid ordinary shares in the capital of the Company following shareholder approval of the issue of Shares at the general meeting held by the Company on 18 October 2018.
Disclosure Document – Notice under Section 708A
On 21 May 2019, AXP Energy Limited completed the issue 67,188,217 fully paid ordinary shares in the capital of the Company following shareholder approval of the issue of Shares at the general meeting held by the Company on 15 May 2019.
Market Update
AXP Energy Limited refers to its request for suspension from official quotation on 16 August 2021 pending the release of a Material Heads of Agreement (HOA) and the Company consulting with ASX re application of the Listing Rules to the HOA.
HOA signed to establish in situ Well site power generation
AXP Energy Limited is pleased to announce that it has signed a Binding Heads Agreement with Wyoming and Washington state-based Elite Mining Inc. to provide gas to EMI’s in-situ power generation for the large and growing cryptocurrency mining sector in the United States.
August Revenue steady at A$1.8m
AXP Energy Limited is pleased to update shareholders on revenue performance for August with the Company recording net revenue (being revenue after royalties) of approximately A$1.8M in for the month (July 2021: $1.8M).
Response to ASX Query Letter
In response to your letter of 12 August 2021 referencing AXP’s Announcement of 9 August 2021 titled “July revenue increases to A$1.8M as production stabilizes”, the information therein and your request for information, the Company responded as follows:
Pause in Trading
Trading in the securities of the entity will be temporarily paused pending a further announcement.
Suspension from Official Quotation
The securities of AXP Energy Limited will be Suspended from quotation immediately under Listing Rules 17.2, at the request of AXP, pending the release of an announcement regarding a material Heads of Agreement.
July revenue increases to A$1.8M as production stabilises
AXP Energy Limited is pleased to confirm that month-on-month revenue continues to steadily increase with the company recording net revenue (being revenue after royalties) of A$1.8M for July 2021.
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