AXP Energy Limited announced the appointment of Mr. Andrew Bald as a Non-Executive Director. Mr. Bald is the founder and executive director of Panthea Capital, a boutique corporate advisory firm with significant expertise in the energy sector that provides strategic advice and services to ASX listed companies. Mr. Bald has over 35 years of experience in financial markets and has advised and listed a number of oil & gas and mineral exploration companies.

From 2013 through 2016, he was Managing Director of Burleson Energy, an oil and gas explorer with production in Texas, USA and he has been on the board and acted as company secretary of a number of other ASX listed companies. He is currently a director of copper, gold & lithium explorer, ActivEx Limited and also XState Resources Limited. Effective from 23 January 2024, Mr. Bald's appointment provides the Board with additional depth and expertise as it oversees the next phase of AXP's growth strategy, following the signed sale agreement for the Company's oil & gas assets in Illinois and the Appalachian Basin.

Concurrently, on 23rd January Mr. Simon Johnson resigned from the Board in order to focus more fully on his CEO role at Seadrill Limited. Mr. Johnson has served on the Board since April 2021 in the capacity of Non-executive Chairman and more recently as Non-executive Director. He has provided invaluable leadership and guidance for AXP through some demanding periods.