AXP Energy Limited - Managing Director Appointment and CEO Resignation

About this update from Axp Energy Limited

FLORENCE - AXP Energy Limited (ASX:AXP)(OTC PINK:AUNXF), ('AXP', 'Company') is pleased to confirm the appointment of Mr Dan Lanskey as Managing Director and Chief Executive Officer of the Company, effective 1 March 2025 . It follows his appointment as a Non-Executive Director on 5 December 2024 . Since his appointment, Dan has been actively involved in the development of the gas-to-power project in Colorado under a Joint Development Agreement with Blackhart Technologies. Dan's experience is set out in the ASX release dated 5 December 2025 . The terms of his employment accompany this release as Annexure A. Concurrently, Tim Hart has made the decision to step down from his role as CEO at AXP. He has agreed to make himself available as a consultant to the Company as required and he leaves AXP with the Board's best wishes. Managing Director and CEO Dan Lanskey commented: 'I have been on the ground in Colorado since early January working with our team and Blackhart Technologies on the successful implementation of our first gas-to-power site which is delivering generated power to Blackhart's 530 bitcoin miners housed in two 40-foot containers. To date this has been a successful operation, and we are now planning a phased expansion targeting 25MW of gas-fired power generation by the end of Calendar 2025. AXP's 750Bcf of contingent gas resources places the company in a unique position and underpins this growth strategy. We are working closely with our JV partners and other tech operators who are hungry for off grid power solutions. Importantly, we are intent on growing oil production from the Pathfinder Field and anticipate delivering meaningful revenue here in the coming months. AXP is well-placed in the near-term and I am excited by the opportunity to lead the Company. I am also committed to regular engagement with shareholders. What we have proven here in Colorado can be duplicated many times at scale in various jurisdictions in the future.' AXP Chairman Sam Jarvis added: 'Dan's appointment as Managing Director and CEO is a very pleasing development for AXP and he brings considerable energy to the Company at a critical time. He has indicated a willingness to base himself largely in the USA and will be very visible with our investors here and in Australia . On behalf of the Board, I would also like to thank Tim Hart for his service to AXP and we wish him well with his future endeavours. The Board is committed to unlocking AXP's value and this leadership appointment is integral to delivering on this.' Contact: Dan Lanskey Managing Director and CEO Tel: +61 (0)451 558 018 ABOUT AXP ENERGY LIMITED AXP ENERGY Limited (ASX:AXP)(OTC PINK:AUNXF) is an oil & gas production and development company with core operations in Colorado . AXP is focused on repurposing stranded gas at its 100%-owned Pathfinder Field for power generation and plans to sell this power to data centre operators and owners focused on High Performance Computing (HPC) including AI, rendering and other high processor intensive operations. It has secured its first customer with Blackhart Technologies LLC . AXP has 24 operating oil & gas wells at its Pathfinder Field. DISCLAIMER This announcement contains or may contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements.' Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as 'expects', 'will,' 'anticipates,' 'estimates,' 'believes,' or statements indicating certain actions 'may,' 'could,' or 'might' occur. Hydrocarbon production rates fluctuate over time due to reservoir pressures, depletion, down time for maintenance and other factors. The Company does not represent that quoted hydrocarbon production rates will continue indefinitely. (C) 2025 Electronic News Publishing, source ENP Newswire

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