Expion Energy (Nasdaq: XPON) Makes Nasdaq Top Gainer List On Acquisition

(MENAFN- Investor Ideas) newswire) a trusted platform for investing ideas including oil stocks issues a trading alert for Expion Energy, Inc., formerly known as Expion360 Inc. (Nasdaq: XPON ), a leader in energy storage solutions and delivery.

The stock makes the Nasdaq top percentage gainer list on news as energy prices continue to make headlines.

The stock is trading at 8.04 +4.61 (+134.06%) on volume of over 68 million shares as of this report.

Expion Energy as acquired an oil and gas exploration opportunity in Eastern Louisiana (the "Acquisition"), marking the Company's first entry into the oil and gas sector as part of a broadened operating strategy. In connection with the Acquisition, the Company entered into an exploration agreement governing the leasing, drilling, and testing of the prospect (the "Exploration Agreement"). As part of the Company's strategic expansion, the Board of Directors (the "Board") has appointed experienced industry executive Kevin Sellers as Chief Executive Officer, succeeding Joseph Hammer, and as a member of the Board, effective August 24, 2026. The Board also approved the Company's corporate name change to Expion Energy, Inc.

AdvertisementThe Oil and Gas Acquisition

Through the Acquisition, the Company acquired assets including an existing oil and gas leasehold of approximately 3,000 net acres within the prospect, a wellbore, mineral title research covering approximately 13,000 net acres, and intellectual property developed in connection with the prospect. After adjustments for a $100,000 certificate of deposit held by the acquired company and the Company's previously paid $175,000 earnest money deposit to the sellers, an adjusted purchase price of $3,425,000 in cash was paid at closing.

The Prospect

The prospect encompasses an area of mutual interest in Eastern Louisiana and targets multiple stacked benches within a prolific reservoir known to contain numerous analog field discoveries within the regional trend. The acquired company holds existing leases covering approximately 3,000 net acres within the area. The Company intends to expand the prospect's acreage footprint through a program to re-lease expired tracts and acquire new leases within the area of mutual interest.

Exploration Agreement

Concurrent with the completion of the Acquisition, Expion entered into the Exploration Agreement with the acquired company and an experienced local counterparty that will serve as lease manager and provide leasing services for the project. The agreement establishes the parties' respective rights and obligations with respect to the prospect.

The Exploration Agreement contemplates the drilling and testing of a new lateral wellbore no later than February 15, 2027, subject to customary exceptions. Pursuant to the Exploration Agreement, the Company will commit up to $4,000,000 to finance the leasing program, with no less than $2,500,000 dedicated to leasing at the prevailing market rates

MENAFN27082026000142011025ID1111585190