Latest Oklahoma News

AXP Energy received applications for $262,214 in its 1-for-1 entitlement offer, far below the $1.2 million minimum subscription. A separate shortfall offer remains open until 3 February 2027, leaving the final capital raised unresolved.

AXP Energy reported higher quarterly oil and gas production after commissioning a 320 kW gas-to-power system in Oklahoma, but its cash position remains tight and the report contains conflicting cash figures. The company is relying on a capital raise to fund a proposed seven-well acquisition and further development.

Iondrive’s updated model points to a US$243 million post-tax NPV for its proposed Oklahoma rare earth module, but the headline economics now face their first substantial bulk-scale test. The company is targeting 1.4 tonnes of mixed rare earth oxides from a North American qualification campaign while pursuing debt, grants and incentives.

Brookside Energy completed its Suttles drilling and stimulation program and began early sales from the Sabres and Whalers wells, but quarterly production and realised prices declined. The company also added producing assets through a US$1.114 million acquisition while funding-heavy development pushed cash down sharply.

Titomic has strengthened its balance sheet with A$16.5 million in new equity and approval for a further US$10.3 million EXIM loan, while reporting more than A$11.8 million in orders since September. The progress comes with a sharper funding test: quarter-end cash was A$18.1 million after a A$10.4 million operating outflow, and the EXIM facility remains undrawn.

Brookside Energy has established first sales from its Sabres and Whalers wells at the Suttles Pad in Oklahoma, lifting its operated SWISH Play producing well count to 11. Production remains in early flowback, with representative output rates still to come.

Brookside Energy is expanding beyond its operated SWISH program with five proposed non-operated horizontal wells across three Oklahoma plays. The estimated US$3.5 million investment is intended to add future production and cash flow without drawing on a new equity issue.

Iondrive has formally entered Oklahoma’s Quality Jobs qualification process, advancing potential US$5.2 million in State and local benefits for its first US rare earth recycling module. The broader incentive framework could exceed US$15 million across three modules, but no funding has yet been awarded.

Podium Minerals has improved flotation recovery at its Parks Reef PGM project to 67% while maintaining overall concentrator recovery near 80%, with a smaller targeted downstream circuit. The September quarter also delivered the full A$4 million underwritten raising and a proposed Australia-US processing partnership, though both the flowsheet and funding pathway still require further validation.

AXP Energy has launched a 1-for-1 non-renounceable entitlement offer seeking between A$1.2 million and A$2.249 million. The funding could support Oklahoma development, but the prospectus also highlights material going-concern uncertainty, creditor dependence and significant dilution for shareholders who do not participate.

AXP Energy has conditionally agreed to acquire seven previously producing Oklahoma wells, surrounding leases and production infrastructure for US$225,000, with a proposed US$1.05 million recompletion program. The transaction could expand AXP’s Oklahoma footprint and support earlier production, but completion, technical results and abandonment liabilities remain unresolved.

Stonehorse Energy returned to profit in FY2026 as Canadian production and oil exposure lifted revenue, while the company sold its US assets after year-end. The next test is whether Drumheller can convert production growth into sustainable cash flow while carrying new debt.