15 July, 2025 (16:00:00 AEST)<br><br><strong>AXP Energy (AXP: 0.10c) unchanged on miniscule volume, 0.004 times average; +0c [+0.0%]<br></strong><br><br>www.buysellsignals.com<br><br>AXP Energy Limited's (ASX: AXP 0.10c) stock price closed unchanged at 0.10c. <br><br>Compared with the All Ordinaries Index which rose 60.0 points (0.7%) in the day, the relative price change was -0.7%. <br><br>There were 50,000 shares worth $A50 traded today; the volume was 0.004 times the average daily trading volume of 13.2 million shares.<br><br>Today's update from Commodities markets - Crude Oil<br>Crude Oil (NYMEX:CL;$66.93 per barrel) decreases 2.6%<br>Crude Oil (NYMEX:CL) has decreased $1.82 (or 2.6%) from its last trading session of July 11 to close at $66.93 per barrel.<br>PV$1000 [5 Years] = US$1,651<br>Present Value of US$1,000 invested in Crude Oil 5 years ago is now worth US$1,651; this corresponds to a TRS or CAGR of 10.5% per annum [Total Annualized Return of Crude Oil.]<br>52-Week Price Range: $57.07 - $83.2<br><br>AXP ENERGY (AXP) Stock Dashboard [traded in Australian Dollars, AUD] End-of-Day Tue, Jul 15<br><br>http://www.fremontpetroleum.com<br><table><tr><td>Last</td><td>0.10c [$A 1 = 100c]</td></tr><tr><td>52-Week Price Range</td><td>0.10c - 0.20c</td></tr><tr><td>Ave Daily Volume</td><td>13,183,959 shares</td></tr><tr><td>Currency</td><td>1.000 AUD = 0.655 USD</td></tr><tr><td>Today's Volume [VI]</td><td>50,000 [0.004] </td></tr><tr><td>Market Cap</td><td>$A7 million [US$4 million]</td></tr><tr><td>Exchange</td><td>AUSTRALIAN [ASX]</td></tr><tr><td>EPS (FY2024)</td><td>(0.08c)</td></tr><tr><td>Shares Outstanding</td><td>6,574,680,675</td></tr><tr><td>AXP in Indices</td><td>Energy [of 123 stocks]</td></tr><tr><td>Sector</td><td>Energy [Rank by MCap 97 of 143 stocks]</td></tr><tr><td>Days Untraded in Past Month</td><td>6/22; Stock is not Liquid</td></tr></table><br>VI* Volume Index = Number of shares traded today/Average number of shares traded per day.<br><br>INDEX<br><br>SECTION 1 MOVING ANNUAL RETURN % STOCK VS INDEX<br>SECTION 2 CORPORATE PROFILE<br>SECTION 3 THE PAST YEAR: PRESS RELEASES<br>SECTION 4 COMMODITY BUZZ - CRUDE OIL<br>SECTION 5 TODAY'S BEARISH SIGNALS<br>SECTION 6 ONGOING BEARISH PARAMETERS<br>SECTION 7 TODAY'S BULLISH SIGNALS<br>SECTION 8 ONGOING BULLISH PARAMETERS<br>Read more...<br><a target=_blank href="http://www.buysellsignals.net/BuySellSignals/report/Australia/Stock/Daily/short//Html/117_DSR_SR_Annexure.html">ANNEXURE</a><br><br>APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER<br>APPENDIX II STOCK IDENTIFIERS<br><br>SECTION 1 MOVING ANNUAL RETURN % STOCK VS INDEX<br><table><tr><td>Jul 15</td><td>Annual Return of stock, %</td><td>Return of All Ordinaries Index, %</td><td>Net return Stock minus Index, %</td></tr><tr><td>2025</td><td>-</td><td>8.3</td><td>-8.3</td></tr><tr><td>2024</td><td>-50</td><td>8.5</td><td>-58.5</td></tr><tr><td>2023</td><td>-50</td><td>7.3</td><td>-57.3</td></tr><tr><td>2022</td><td>-</td><td>-8.2</td><td>8.2</td></tr><tr><td>2021</td><td>-</td><td>24.9</td><td>-24.9</td></tr></table><br>Annual return of the stock underperformed return of the Index in each of the past 4 years.<br><br>SECTION 2 CORPORATE PROFILE<br>2.1 Activities<br>AXP Energy Ltd. is an oil and gas production and development company. The Company's segments are defined by geographic area within its Oil & Gas basins in the United States: Appalachian Basin, Denver-Julesburg Basin, Illinois Basin, and Corporate and other. The Appalachian Basin is situated primarily in the Eastern part of Kentucky, Western Virginia and North-Eastern part of Tennessee; these assets are situated in a well-defined gas producing area of the Appalachian Basin. The Denver-Julesburg Basin assets are situated in the historic Florence oilfield and are geologically defined by the Canon City Embayment. The Illinois Basin is spread across Western Kentucky, situated in the heart and prolific section of the basin. Its formations of interest include the Palestine, Waltersburg, Tar Springs, Hardinsburg, Jackson, St. Genevieve, O'Hara, McClosky, Warsaw and Fort Payne. The Company has primary operations in Kentucky, Illinois, Indiana and Colorado.<br><br> It is Australia's 97th largest Energy company by market capitalisation.<br><br>2.2 Contact Details<br><table><tr><td>Website</td><td>http://www.fremontpetroleum.com</td></tr><tr><td>Physical Address</td><td>c/- Coysec Services Pty Ltd, Level 3, Suite 302, 17 Castlereagh Street, SYDNEY, NSW, AUSTRALIA, 2000</td></tr><tr><td>Phone</td><td>02 9299 9580</td></tr><tr><td>Fax</td><td>02 9299 9501</td></tr></table><br>2.3 Industry & Sector [of 139 stocks]<br><table><tr><td>Classification Level</td><td>Name of Sector</td></tr><tr><td>Economic Sector</td><td>Energy</td></tr><tr><td>Industry</td><td>Integrated Oil & Gas</td></tr></table><br>SECTION 3 THE PAST YEAR: PRESS RELEASES<br>3.1 Press Releases and Corporate Wire<br><br>Press Release article 1 of 3, 159 words <br><br>March 31: Quarterly Activities Report: AXP Energy Cash Balance increases 30%<br><br>As per a report dated March 31, 2025 the Cash Burn of operating activities was $A559,000 for the nine months ended March 31, 2025. This corresponds to an average Cash Burn Rate of $A62,111 per month. To support this Cash Burn Rate, the cash balance of $A231,000 as at March 31, 2025 should be adequate till July 20, 2025. The cash runway defined by the length of time to run out of money if it kept spending at its current rate of cash burn is  2 months and 4 days from today's date.<table><tr><td>Quarter ended 31 Mar 2025</td><td>$A</td></tr><tr><td>Cash and cash equivalents at beginning of period</td><td>178,000</td></tr><tr><td>Net cash from / (used in) operating activities</td><td>(559,000)</td></tr><tr><td>Net cash from investing activities</td><td>(56,000)</td></tr><tr><td>Net cash from financing activities</td><td>666,000</td></tr><tr><td>Effect of movement in exchange rates on cash held</td><td>2,000</td></tr><tr><td>Cash raised (used) during quarter</td><td>51,000</td></tr><tr><td>Cash and cash equivalents at end of period</td><td>231,000</td></tr></table><br>Press Release article 2 of 3, 523 words <br><br>November 18 2024: AXP Energy : Chairman's Statement<br><br>CHAIRMAN'S REPORT<br><br>Dear shareholders,<br><br>On behalf of the Board, I am pleased to present the 2024 Annual Report for AXP Energy (AXP or the Company). The 2024 financial year was defined by a strategic pivot which saw the end of the Company's association with the Appalachian Basin project, and a renewed focus on its Florence Oil Field project in Colorado.<br><br>The sale of the Appalachian Basin assets for a gross price of $US4 million positioned the company with the balance sheet strength to restart production in Colorado, and our onsite staff there have engaged v\/ith renewed vigour in pursuit of the Company's new growth strategy.<br><br>In May 2024, we installed a 750kW generator on site to demonstrate that electricity could be produced reliably and consistently using AXP's wellhead gas, and we are pleased to<br><br>report that we have had no down time since the generators were installed other than as a result of periodic maintenance of the generator and our own mechanical maintenance issues.<br><br>The generator operation has achieved the establishment of certainty in relation to the commercial application of our fully owned deeper wells. The Company has moved nimbly to pursue commercial outcomes in line with changes to Colorado regulations, first with respect to the flaring or venting of gas which necessitated a solution to move the gas to create oil production.<br><br>By introducing the generators, we have opened up potential new addressable markets for electricity supply. We are now looking at ways of using that electricity and this has seen us engage with a range of end-users including data centres and AI companies.<br><br>Oil production at Colorado increased over the final quarter of FY2024, and the Company is targeting increased production in FY2025 as we source more generators, utilise more gas and produce more electricity. On the costs side, we have aggressively cut the Company's administration costs both overseas and locally, reviewing contracts with all of our service providers and achieving significant savings across the board.<br><br>Over the coming 12 months, our team on the ground in Colorado are committed to making the project work and believe in the prospectivity of the field. We have a lot of gas available to us and the aim is to produce it and monetise it. If we can execute on our stated strategy, the 2025 financial year will finish on a high note.<br><br>In closing, I would like to sincerely thank shareholders for their ongoing support through this period of transition for the business. Heading into FY2025, the Board is confident that AXP Energy has emerged from a challenging period with streamlined operations and clearly defined business strategy to unlock value from our core asset suite in Colorado.<br><br>With strong execution, those assets have the potential to generate significant returns and act as a catalyst for a re-rating of the Company's share price. We look forward to providing more updates in the near-term, amid strong market tailwinds in the US for cost stable<br><br>energy supply to meet the growing demand for power from data centres and AI companies, which in turn will generate additional momentum for group oil sales.<br><br>Press Release article 3 of 3, 160 words <br><br>September 30 2024: Quarterly Activities Report: AXP Energy Cash Balance decreases 42%<br><br>As per a report dated September 30, 2024 the Cash Burn of operating activities was $A634,000 in the quarter ended September 30, 2024. This corresponds to an average Cash Burn Rate of $A211,333 per month. To support this Cash Burn Rate, the cash balance of $A853,000 as at September 30, 2024 should be adequate till January 29, 2025. The cash runway defined by the length of time to run out of money if it kept spending at its current rate of cash burn is  2 months and 9 days from today's date.<table><tr><td>Quarter ended 30 Sep 2024</td><td>$A</td></tr><tr><td>Cash and cash equivalents at beginning of period</td><td>1.5 million</td></tr><tr><td>Net cash from / (used in) operating activities</td><td>(634,000)</td></tr><tr><td>Net cash from investing activities</td><td>95,000</td></tr><tr><td>Net cash from financing activities</td><td>(71,000)</td></tr><tr><td>Effect of movement in exchange rates on cash held</td><td>(1,000)</td></tr><tr><td>Cash raised (used) during quarter</td><td>(610,000)</td></tr><tr><td>Cash and cash equivalents at end of period</td><td>853,000</td></tr></table><br>SECTION 4 COMMODITY BUZZ - CRUDE OIL<br>BUZZ article 1 of 4, Source: , 282 words <br>Jun 25 2025: Oil tumbles for a second day, loses 6% as Iran-Israel ceasefire eases supply concerns<br><br>Oil prices tumbled for a second day Tuesday, as the market bet that a ceasefire between Israel and Iran would hold and the risk of a major crude supply disruption had faded.<br><br>U.S. crude oil settled down 6% at $64.37 a barrel, while the global benchmark Brent<br><br>fell 6.1%, to $67.14. Prices closed 7% lower on Monday after Iran did not target energy infrastructure in response to the U.S. bombing its key nuclear sites.<br><br>Earlier Tuesday, President Donald Trump said China can keep buying oil from Iran, in what seemed like a sign that the U.S. may soften its maximum pressure campaign against the Islamic Republic.<br><br>"China can now continue to purchase Oil from Iran," Trump said in a social media post. "Hopefully, they will be purchasing plenty from the U.S., also. It was my Great Honor to make this happen!"<br><br>But a senior White House official told CNBC that Trump "continues to call on China and all countries to import our state-of-the-art oil rather than import Iranian oil in violation of U.S. sanctions."<br><br>Trump threatened in May to bar any country that buys Iranian oil from doing business with the U.S. China purchases the vast majority of the 1.7 million barrels per day (bpd) that Iran typically exports, according to data from Kpler.<br><br>Trump was saying that China could continue buying Iran's oil because the Strait of Hormuz would remain open due to the ceasefire, the White House official clarified. The strait is a narrow waterway between Iran and Oman that is used to transport 20% of the world's oil. Investors worried that Iran might attempt to close the strait during the conflict with Israel.<br><br>BUZZ article 2 of 4, Source: CNBC, 155 words <br>Jun 25 2025: U.S. crude oil rises after steep selloff following Israel-Iran ceasefire<br><br>.S. crude oil futures rose on Wednesday, after the Iran-Israel ceasefire triggered a steep selloff earlier this week.<br><br>U.S. West Texas Intermediate futures contracts rose 85 cents, or 0.85%, to close at $64.92 per barrel. Global benchmark Brent<br><br>gained 54 cents, or 0.8%, to settle at $67.68 per barrel.<br><br>Prices briefly jumped to five-month highs after the U.S. bombed three nuclear sites in Iran over the weekend. But futures rapidly sold off on Monday and Tuesday after Iran held back from targeting regional crude supplies, and President Donald Trump pushed Jerusalem and Tehran into a truce.<br><br>"With the announcement of a ceasefire [Monday], President Trump called time on the twelve-day Israel-Iran war after successfully executing an escalate to de-escalate strategy," Helima Croft, head of global commodity strategy at RBC Capital Markets, told clients in a note Tuesday.<br><br>"The worst appears over for now," Croft said, "though the truce still remains fragile."<br><br>BUZZ article 3 of 4, Source: CNBC, 1130 words <br>Jan 06 2025: Several commodities face headwinds in 2025 - but this metal's record rally is set to continue<br><br>Key Points<br><br>Global commodity prices are largely expected to fall in 2025, but certain items such as gold and gas are likely to see higher prices, according to industry experts.<br><br>Market participants will also be keeping an eye on further China stimulus in hopes that it may fuel a recovery in commodities demand in the world's second-largest economy.<br><br>Commodity prices are largely expected to fall in 2025 due to a sluggish global economic outlook and a resurgent dollar, but gold and gas prices are poised to rally this year, according to industry experts.<br><br>Commodities had a mixed 2024: While investors flocked to gold to hedge against inflation, commodities such as iron ore fell as the world's largest consumer of metals, China, struggled with tepid growth. The story this year is likely to be the same.<br><br>"Commodities in general will be under pressure across the board in 2025," said research firm BMI's head of commodities analysis Sabrin Chowdhury, adding that the strength of the U.S. dollar will cap demand for commodities priced in the greenback.<br><br>Market participants will be keeping an eye on further China stimulus in hopes that it may fuel a recovery in commodities demand in the world's second-largest economy.<br><br>Oil prices to slip<br><br>Crude oil prices last year were dragged down by weak Chinese demand and a supply glut, and market watchers expect prices to remain pressured in 2025.<br><br>The International Energy Agency in November painted a bearish oil market picture for 2025, forecasting global oil demand to grow under a million barrels per day. This compares to a two million barrel per day increase in 2023.<br><br>Commonwealth Bank of Australia sees Brent oil prices falling to $70 per barrel this year on expectations increased oil supply from non&#8209;OPEC+ countries that'll eclipse the rise in global oil consumption.<br><br>BMI said in its December note that the first half of 2025 was likely to see a supply glut as substantial new production from U.S., Canada, Guyana and Brazil comes online. Also, if OPEC+ plans to roll back voluntary cuts materialize, the oversupply will further pressure prices.<br><br>BMI noted that the demand picture in 2025 was not clear yet. "Global oil and gas demand remains uncertain, with stable economic growth and rising fuel demand offset by trade war impacts, inflation and contracting demand in developed markets."<br><br>Global crude benchmark Brent was last trading at $76.34 per barrel, around the same levels as it was a year ago in early January.<br><br>Gas set to rise<br><br>Global natural gas prices have rallied since mid-December 2024, driven by cold weather and geopolitics, Citi analysts said.<br><br>Ukraine's recent halt of Russian gas flow to several European nations on New Year's Day has introduced greater uncertainty to the global gas markets. As long as the cutoff remains in place, gas prices are likely to remain elevated.<br><br>Colder weather for the rest of winter in the U.S. and Asia could also keep prices elevated, said Citi.<br><br>BMI forecasts gas prices to rise by about 40% in 2025 to $3.4 per million British thermal units (MMbtu) compared to an average of $2.4 per MMbtu in 2024, driven by growing demand from the LNG sector and higher net pipeline exports.<br><br>U.S. Henry Hub natural gas prices, which was the gauge that BMI referred to, are currently trading at $2.95 per MMbtu.<br><br>"LNG will continue to drive new consumption, supported by rising export capacity and strong demand in Europe and Asia," BMI analysts wrote.<br><br>Gold may add sheen<br><br>Gold prices notched a slew of all-time highs last year, and the run of fresh records could extend in 2025.<br><br>"Investors are optimistic about gold and silver for 2025 because they are so pessimistic on geopolitics and government debt," said Adrian Ash, director of research at BullionVault, a gold investment services firm, emphasizing on the yellow metal's role as a hedge against risk.<br><br>JPMorgan analysts also expect gold prices to rise, especially if U.S. policies become "more disruptive" in the form of increased tariffs, elevated trade tensions and higher risks to economic growth.<br><br>Gold notched its best annual performance in over a decade last year. Bullion prices rose about 26% in 2024, data from FactSet showed, driven by central bank as well as retail investor purchases.<br><br>BullionVault and JPMorgan expect gold prices to go up to $3,000 per ounce in 2025.<br><br>Silver and platinum likely to advance<br><br>Gold's poorer cousin, silver, could also see prices rise, especially as demand for solar power - silver is used in building solar panels - remains resilient and the metal's supply stays limited.<br><br>"Both silver and platinum have strong underlying deficit fundamentals, and we think a catch up trade later in 2025, once base metals find firmer footing, could be quite potent," JPMorgan analysts noted.<br><br>Silver is primarily utilized in industrial applications and is frequently incorporated in the production of automobiles, solar panels, jewelry and electronics. It is also needed in building artificial intelligence products and has military applications as well, said CIO of Swiss Asia Capital's CIO Juerg Kiener.<br><br>That said, silver's upside will be dependent on global industrial demand which will be impacted by Trump's tariffs, precious metals trading services group MKS Pamp wrote in an outlook report.<br><br>Copper faces demand worries<br><br>Prices of copper, which is key to the manufacturing of electric vehicles and power grids, may see a dent after shooting to a record high this year on the back of a global energy transition.<br><br>"A potential deceleration in energy transition amid Trump's policy shifts might dampen, to some extent, the 'green sentiment' that bolstered prices in 2024," BMI wrote in a note.<br><br>While copper prices rose to a record high in May 2024 largely as a result of a squeezed market, they trended lower for the rest of the year, and will continue to do so, John Gross, president at the eponymous metals management consultancy John Gross and Company, told CNBC.<br><br>A cocktail mix of high inflation, elevated interest rates and a stronger dollar will weigh on all metals markets, the metals market veteran said.<br><br>Iron ore forecast to drop<br><br>Iron ore prices may also slide on the back of an oversupply resulting from Chinese policies and geopolitics.<br><br>"The expected U.S. tariffs on China, changing nature of Chinese stimulus and new low-cost supply [will] push the market into further surplus," Goldman Sachs said, forecasting prices to decline to $95 per ton in 2025.<br><br>This despite China likely to import record amount of iron ore this year, according to Reuters. Iron ore prices fell over 24%, according to data from FactSet.<br><br>Cocoa and coffee<br><br>Cocoa and coffee prices stand out amongst the soft commodities basket, having scaled record highs in 2024 fueled by adverse weather conditions and supply tightness in key producing regions. But demand may taper in 2025.<br><br>"Given that these commodities are trading at levels well above cost of production, we expect production to expand and demand to contract in the coming year," Rabobank researchers said.<br><br>Source: CNBC<br><br>BUZZ article 4 of 4, Source: CNBC, 1049 words <br>Sep 10 2024: Saudi Arabia's fiscal breakeven oil price is rising fast. What will the kingdom do about it?<br><br>KEY POINTS<br><br>Saudi Arabia's fiscal breakeven oil price is growing as the kingdom embarks on huge spending projects as part of Vision 2030.<br><br>Oil production levels and softer crude prices may be "flashing warning signs" for hydrocarbon exporting economies.<br><br>The kingdom, however, has plenty of tools at its disposal to deal with a widening deficit, economists say.<br><br>Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for oil projects are also the lowest in the world, at around just $10 per barrel. When around 75% of your fiscal revenue comes from oil, that's a big deal.<br><br>And for a time, its fiscal breakeven oil price - what it needed a barrel of crude to cost in order to balance its government budget - was fairly comfortable, too.<br><br>That's changing as the kingdom embarks on huge spending projects as part of Vision 2030, which aims to modernize its economy and diversify its revenue sources away from oil. With each passing year, that projected fiscal breakeven oil price gets higher, and the kingdom's deficit widens.<br><br>In May of 2023 the International Monetary Fund forecast the kingdom's breakeven oil price at $80.90 per barrel, which moved it back into a fiscal deficit following its first surplus in nearly a decade. To be sure, the fiscal breakeven isn't the price at which Saudi Arabia makes a profit on crude but the average oil price it needs to balance the books.<br><br>The IMF's latest forecast, in April, put that breakeven figure at $96.20 for 2024; a roughly 19% increase on the year before, and about 32% higher than the current price of a barrel of Brent crude, which is trading at around $73 as of Wednesday afternoon.<br><br>"At least until 2030, Saudi will have massive budgetary needs due to the need to demonstrate some significant outcome in key Vision 2030 projects and to prepare for and host big sporting and cultural events" like the World Cup 2034 and Expo 2030, said Li-Chen Sim, a non-resident scholar at the Washington-based Middle East Institute.<br><br>"All this amidst expected growth in oil supply from the U.S., Guyana, Brazil, Canada, and even the UAE and possible anemic oil consumption growth in China, the Kingdom's largest oil customer, means that the Kingdom's fiscal breakeven price is likely to rise perhaps to around $100."<br><br>All that, she adds, does not include the domestic spending requirements of the kingdom's mammoth sovereign wealth fund, the Public Investment Fund, which is behind multi-trillion dollar megaprojects like NEOM. A Bloomberg forecast cited by Nomura Asset Management put this year's breakeven price, including PIF spending, at $112 per barrel.<br><br>"Saudi Arabia is wealthy and government spending has climbed rapidly over the past decade but it has fiscal parameters within which it must operate just like every other country," a Nomura report on Arabian markets published Sept. 2 read.<br><br>Important economic indicators "like oil production and prices, are now flashing warning signs," it added. "A global slowdown amid supply uncertainties may hamper prospects for hydrocarbon economies."<br><br>Saudi Arabia's economy swung dramatically from a budget surplus of $27.68 billion in 2022 to a deficit of $21.6 billion in 2023 as it ramped up public spending and decreased oil production due to its OPEC+ supply cut agreement. Its government forecasts a deficit (meaning the total amount of money spent will be more than the money received) of $21.1 billion for 2024, projecting revenue at $312.5 billion and expenditures at $333.5 billion.<br><br>Does the breakeven oil price actually matter?<br><br>But wait - fiscal breakeven prices are not always as important as people think they are, some economists and market analysts argue. And for Saudi Arabia, a range of options exist to manage deficits and less-than-ideal oil prices.<br><br>"The reality is that countries run deficits all the time, and therefore the idea Saudi Arabia needs $112 oil, or whatever the number is, to me doesn't provide a true representation of what's going on," one energy analyst who focuses on the kingdom told CNBC.<br><br>"For Saudi Arabia, they have a lot of capacity to take on more debt if they wanted to. it's not an issue for them to run a small deficit," the analyst said, speaking anonymously due to professional restrictions on speaking to the press.<br><br>The kingdom also has robust foreign currency reserves, which grew to a 20-month high of $452.8 billion in July, and has been successfully issuing bonds, tapping debt markets for $12 billion so far this year. Oil revenue should increase in 2025 when the OPEC+ production cuts, the majority of which were taken by Saudi Arabia, expire, according to energy analysts.<br><br>"From that perspective, they're also starting from a relatively strong position," the source said.<br><br>Saudi Arabia's public debt has grown from around 3% of its GDP in the 2010s to 24% today - that's a massive increment, Sim said. But by international standards, it's still low. Average public debt in EU countries, for instance, averages 82%. In the U.S. in 2023, that figure was 123%.<br><br>Its relatively low debt level and high credit rating makes it easier for Saudi Arabia to take on more debt as it needs to. The kingdom has also rolled out a series of reforms to boost and de-risk foreign investment and diversify revenue streams. While the country's economy has contracted for the last consecutive four quarters, non-oil economic activity grew 4.4% in the second quarter year-on-year, up 3.4% from the prior quarter.<br><br>"The good news is that the economy is progressing along its diversification track and has already absorbed large reductions in subsidies and higher VAT while generating a huge number of jobs," the Nomura report said.<br><br>While the kingdom "still lacks the quantum of foreign direct investments desired," it wrote, "the newly approved investment law should bring it closer to achieving its goal of building a substantially bigger non-oil sector."<br><br>Risks remain, however - primarily if oil demand continues to be soft in major consuming countries and crude supply in non-OPEC+ countries continue to grow, Sim said. And those risks are entirely out of Saudi Arabia's control.<br><br>"With regard to the first point, the biggest danger is a possible tit-for-tat tariff war between China and the US or Europe," Sim said. This "could result in slower global economic growth and hence a reduced demand for oil."<br><br>Source: CNBC<br><br>SECTION 5 TODAY'S BEARISH SIGNALS<br>Price/Sales of 10.2 > Energy sector (of 139 stocks) avg of 1.2:<br>- The price-to-sales ratio of 10.2 indicates overvaluation compared with sector average of 1.2 and market average of 2.1.<br><br>5.1 PAST WEEK: WEAK MOMENTUM DOWN <br>AXP crashes 33.3% on weak volume 0.4 times average. Compared with the All Ordinaries Index which rose 46.6 points (or 0.5%) in the week, the relative price change was -33.9%. <br><br>AXP Energy (AXP) underperformed the All Ordinaries Index in 3 out of 5 days.<br><table><tr><td>Jul</td><td>AXP Energy</td><td>Close [AUD]</td><td>Change %</td><td>Comment</td></tr><tr><td>Tue 15</td><td>Unchanged on miniscule volume, 0.004 times average</td><td>0</td><td>0</td><td>Price/MAP50 below 1 </td></tr><tr><td>Mon 14</td><td>Unchanged on miniscule volume, 0.02 times average</td><td>0</td><td>0</td><td>Price fall on slipping relative strength</td></tr><tr><td>Fri 11</td><td>Hits year-low 28th time in three months</td><td>0</td><td>-33.3</td><td>Steepest Fall; VI*=1.9</td></tr><tr><td>Thu 10</td><td>Unchanged on miniscule volume</td><td>0</td><td>0</td><td>Price fall on slipping relative strength</td></tr><tr><td>Tue 08</td><td>Shares resume trading after an untraded day, soars 50%</td><td>0</td><td>50.0</td><td>Top Rise; RPC=50.0%</td></tr></table>* RPC - Relative Price Change is % price change of stock less % change of the All Ordinaries Index.<br>[Volume Index (VI); 1 is average]<br><br>5.2 Rank in the bottom 12% by Relative Valuation in the Australian market<br><table><tr><td>Description</td><td>Value</td><td>Rank</td></tr><tr><td>Price to Sales</td><td>10.2</td><td>In Bottom 12%</td></tr></table><br>5.3 Rank in the bottom 5% by Price Performance in the Australian market<br><table><tr><td>Description</td><td>Value</td><td>Rank</td></tr><tr><td>Rel Strength 6 mo</td><td>6</td><td>In Bottom 5%</td></tr><tr><td>Price/MAP50</td><td>0.44</td><td>In Bottom 2%</td></tr><tr><td>1-week Price Change %</td><td>-33.3</td><td>In Bottom 1%</td></tr></table><br>5.4 Downtrend<br><br>Price/Moving Average Price of 0.25:<br><br>- The Price/MAP 200 for AXP Energy is 0.25. Being less than 1 is a bearish indicator. It is lower than the Price/MAP 200 for the All Ordinaries Index of 1.04, a second bearish indicator. The stock is trading below both its MAPs and the 50-day MAP of 0.23c is lower than the 200-day MAP of 0.40c, a third bearish indicator.<br>- The price to 50-day EMAP ratio is 0.5, a bearish indicator. In the past 50 days this ratio has been under 0.5 just five times suggesting a support level.<br><br>Past Quarter:<br><br>- In the last three months the stock has hit a new 52-week low thirty times, pointing to a significant downtrend. <br><br>Trailing Relative Strength (6 months) at 6 percentile:<br><br>- The stock has a 6-month relative strength of 6 in the Australian market of 1,459 stocks indicating it is trailing 94% of the market.<br><br>SECTION 6 ONGOING BEARISH PARAMETERS<br>6.1 Rank in the bottom 6% by Liquidity in the Australian market<br><table><tr><td>Description</td><td>Value</td><td>Rank</td></tr><tr><td>Days untraded in the past quarter</td><td>24</td><td></td></tr><tr><td>Ave daily turnover</td><td>$A6,082</td><td>In bottom 6%</td></tr></table><br>6.2 Rank in the bottom 11% by Size in the Australian market<br><table><tr><td>Description</td><td>Value</td><td>Rank</td></tr><tr><td>MCap</td><td>$4 million</td><td>In Bottom 11%</td></tr><tr><td>Turnover</td><td>$A50</td><td>In Bottom 10%</td></tr></table><br>6.3 Present Value of AUD1000 Invested in the Past 3 Years; The Worst Period with PVAUD1000 < 251<br><table><tr><td>PVAUD1,000</td><td>3 yrs ago</td></tr><tr><td>AXP.ASX</td><td>$A250</td></tr><tr><td>Energy sector</td><td>$A1,150</td></tr><tr><td>All Ordinaries Index</td><td>$A1,306</td></tr></table><br>6.4 MCap: 5-Year Decrease of $A2 M (23%)<br>In the past 5 years Market Capitalization has decreased by $A2 million (23%) from $A8.5 million to $A6.6 million. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years. <br><table><tr><td></td><td> Price</td><td>MCap (AUD M)</td><td>MCap ($ M)</td></tr><tr><td>Last</td><td>0.10c</td><td>6.6</td><td>4.3</td></tr><tr><td>1 Year ago</td><td>0.10c</td><td>5.8</td><td>3.9</td></tr><tr><td>2 Years ago</td><td>0.20c</td><td>11.6</td><td>7.9</td></tr><tr><td>3 Years ago</td><td>0.40c</td><td>22.8</td><td>15.4</td></tr><tr><td>4 Years ago</td><td>0.40c</td><td>18.7</td><td>14</td></tr><tr><td>5 Years ago</td><td>0.40c</td><td>8.5</td><td>5.9</td></tr></table><br>6.5 Annualised Period-based Total Shareholder Returns [TSR %]: The Worst Periods with TSR < -24.1%<br><table><tr><td>TSR %</td><td>3 yrs</td><td>5 yrs</td></tr><tr><td>AXP.ASX</td><td>-36.7</td><td>-24.2</td></tr></table><br>6.6 Declining Volume, down 57% in 5 years<br>In the past five years, Average Daily Volume of Trading (ADVT) has decreased 56.7% to 13.2 million shares. <br>Avg. Daily Volume Traded 12 months ended Jul 15, million shares<br><table><tr><td>Year</td><td>ADVT</td></tr><tr><td>2025</td><td>13.2</td></tr><tr><td>2024</td><td>3.9</td></tr><tr><td>2023</td><td>3.3</td></tr><tr><td>2022</td><td>18.5</td></tr><tr><td>2021</td><td>30.4</td></tr></table><br>6.7 Declining VWAP, down 76% in 5 years<br>In the past five years Volume Weighted Average Price (VWAP) has decreased by 76.4% to 0.13c. <br>Past five years, 12 months ended Jul 15 (AUD)<br><table><tr><td>Year</td><td>High Price</td><td>VWAP</td><td>Low Price</td></tr><tr><td>2022</td><td>0.02</td><td>0.01</td><td>-</td></tr><tr><td>2021</td><td>0.01</td><td>0.01</td><td>-</td></tr></table><br>6.8 Declining share turnover, down 97% in 5 years<br>In the past five years, average daily share turnover has decreased 96.8% to $A4,136. This suggests decreased liquidity. <br>Past five years, 12 months ended Jul 15 (AUD thousand)<br><table><tr><td>Year</td><td>Average Daily Turnover</td></tr><tr><td>2025</td><td>4.1</td></tr><tr><td>2024</td><td>3.3</td></tr><tr><td>2023</td><td>10.3</td></tr><tr><td>2022</td><td>146.5</td></tr><tr><td>2021</td><td>130.7</td></tr></table><br>6.9 Thinly traded stock: Days Untraded<br>Past five years, 12 months ended Jul 15<br><table><tr><td>Year</td><td>Days Untraded</td></tr><tr><td>2025</td><td>83</td></tr><tr><td>2024</td><td>65</td></tr><tr><td>2023</td><td>51</td></tr><tr><td>2022</td><td>48</td></tr><tr><td>2021</td><td>60</td></tr></table>The stock is thinly traded. Liquidity has deteriorated from 60 Days Untraded five years ago to 83 days in the past year.<br><br>6.10 Satisfies 1 out of 9 criterion of Joseph Piotroski [pass mark 5]:<br>- Improvement in current ratio from 0.8 to 2.5.<br><br>But does not meet the following 8 criteria of Joseph Piotroski:<br>- Positive net income.<br>- Return on Assets improvement.<br>- Positive operating cashflow.<br>- Good quality of earnings [operating cashflow exceeds net income].<br>- Improvement in long-term debt to total assets.<br>- Total shares on issue unchanged (or reduction in total shares on issue).<br>- Improvement in gross margin.<br>- Improvement in asset turnover.<br><br>SECTION 7 TODAY'S BULLISH SIGNALS<br>7.1 Uptrend<br><br>Past Quarter:<br><br>- In the last three months the stock has hit a new 52-week high five times, pointing to an uptrend. <br><br>7.2 Other Bullish Signals<br>MCap/Total Assets:<br>- Tobin's Q Ratio, defined as MCap divided by Total Assets, is 0.8. Compared with the rest of the market the stock is undervalued.<br><br>SECTION 8 ONGOING BULLISH PARAMETERS<br>8.1 Satisfies three criteria of Benjamin Graham<br>-""Total debt less than tangible book value""; total debt of AUD329,662 (US$219,759) is less than tangible book value of AUD6.1 million (US$4.0 million).<br>-""Current ratio of two or more""; current assets are 2.5 times current liabilities.<br>-""Total debt equal or less than twice the net quick liquidation value""; total debt of AUD329,662 (US$219,759) is 0.1 times the net liquidation value of AUD3.09 million (US$2.1 million).<br><br>APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER<br><br>AXP: EXPORT DATA TO EXCEL:<br><br><a target=_blank href="http://www.buysellsignals.com/bst/00199102100150725117">+ PRICE VOLUME - 5-YEAR HISTORY</a><br><a target=_blank href="http://www.buysellsignals.com/bst/00499102100150725117">+ PEER COMPARISON</a><br><br>AXP: OTHER INFORMATION:<br><br><a target=_blank href="http://www.buysellsignals.com/bst/00899102100150725117">+ PRICE VOLUME CHARTS</a><br><a target=_blank href="http://www.buysellsignals.com/bst/00999227100150725125">+ USD vs AUD EXCHANGE RATE CHARTS IN HTML</a><br><a target=_blank href="http://www.buysellsignals.com/bst/0109917910015072516">+ CRUDE OIL COMMODITY PRICE CHARTS IN HTML</a><br><a target=_blank href="http://www.buysellsignals.com/bst/0069917910015072516">+ CRUDE OIL COMMODITY BUZZ IN HTML</a><br><a target=_blank href="http://www.buysellsignals.net/BuySellSignals/report/Australia/Stock/Daily/Html/AXP_Board_Of_Directors.html">+ BOARD OF DIRECTORS</a><br><br>APPENDIX II STOCK IDENTIFIERS<br>ISIN: AU0000162950<br>PermID: 4295857152<br>CUSIP: Q3956Q102<br>RIC: AXP.AX<br><br><br>Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.<br><br>Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.<br><br>Created by www.buysellsignals.com<br><br>