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Xstate Resources Ltd (XST.AX)

XST.AX on Australia Stock Exchange

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25 Jul 2017
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Latest Key Developments (Source: Significant Developments)

Xstate Resources updates on non‐payment of A$25 mln in subscription funds by four investors​
Monday, 26 Jun 2017 02:30am EDT 

June 26 (Reuters) - Xstate Resources Ltd ::Subscription agreements legal proceedings update 26-Jun-17.Co advises that a writ of summons has been served on three of four investors.‍Updates in relation to non‐payment of A$25 million in subscription funds by four investors​.  Full Article

Sagasco updates on Dempsey farm-out
Thursday, 20 Apr 2017 09:28pm EDT 

April 21 (Reuters) - Sagasco Limited :Plans to undertake a 3,200 metre combined appraisal and exploration well (dempsey‐1) in q2 of 2017 in Sacramento basin.Bombora Natural Energy will earn 10% working interest by funding 20% of dempsey‐1 well program to a gross well cost cap of about a$5.2 million (us$3.8 million).  Full Article

Xstate Resources updates on subscription agreements and La Basin acquisition update
Tuesday, 18 Apr 2017 09:46pm EDT 

April 19 (Reuters) - Xstate Resources Ltd :Subscription agreements and la basin acquisition update.Board of xstate will commence legal proceedings against investors seeking damages resulting from non-performance of funding obligations to xstate.Vendor of los angeles assets being sold to xstate in california ,usa, has terminated existing purchase and sale agreement.Non-payment resulted in co's inability to complete a strategic and value accretive transaction and resulted in loss of non refundable deposit.Provides update in relation to subscripion agreements and los angeles basin assets acquisition..  Full Article

Xstate Resources Ltd updates on Sacramento Basin Gas
Tuesday, 28 Mar 2017 06:40pm EDT 

Xstate Resources Ltd : Exercised its option from Sacgasco to acquire various working interests ranging from 10-30% of wells in five producing gas fields .Has agreed to acquire between 10-30% of Sacgasco's working interest in five producing gas fields that sacgasco sourced.  Full Article

Xstate Resources and Sacgasco Ltd agreed to a farm‐out with Bombora Natural Energy
Tuesday, 28 Feb 2017 04:38pm EST 

Xstate Resources Ltd : Co and Sacgasco agreed to a farm‐out with Bombora Natural Energy for large, conventional Alvares gas prospect in Sacramento Basin .Bombora's promoted share of funding Alvares‐2 will be limited to a gross cost cap of us$10 million.  Full Article

Xstate Resources announces acquisition of La Basin oil field
Wednesday, 21 Dec 2016 11:39pm EST 

Xstate Resources Ltd : la basin oil field acquisition - signed agreement-xst.ax . secured funding commitments for a$25m at 3.8 cents per share to fund acquisition and future capital development expenditure .Co has agreed to acquire a 24.5% working interest for us$13 million in sansinena and east los angeles oil and gas fields.  Full Article

Xstate Resources entered into letter of intent
Thursday, 3 Nov 2016 09:35pm EDT 

Xstate Resources Ltd : Entered into letter of intent to acquire a working interest in a producing conventional oil field in los angeles basin onshore california . Agreed to pay us$13.0m for 24.5% gross working interest in both sansinena oil field and east los angeles field .La basin oil field acquisition-xst.ax.  Full Article

Xstate Resources entered into letter of intent
Thursday, 3 Nov 2016 06:48pm EDT 

Xstate Resources Ltd : Entered into letter of intent to acquire a working interest in a producing conventional oil field in los angeles basin onshore california . Agreed to pay us$13.0m for 24.5% gross working interest in both sansinena oil field and east los angeles field .La basin oil field acquisition-xst.ax.  Full Article

Xstate Resources obtained shareholder approval to raise up to A$3 million
Tuesday, 31 May 2016 09:22pm EDT 

Xstate Resources Ltd : Xstate obtained shareholder approval on 31 may 2016 to raise up to $3 million . Xstate is advancing discussions in relation to these potential transactions, which the board believe can be progressed rapidly . Currently conducting due diligence of producing assets onshore California . Xstate has identified a number of oil projects in California that are in production .  Full Article

Xstate Resources elects to not exercise the option to acquire Sunset assets
Sunday, 8 May 2016 08:35pm EDT 

Xstate Resources Ltd : Xstate elects to not exercise the option to acquire sunset assets . Co sought an extension of time from sunset to further investigate these significant risks, Sunset declined to provide extension .  Full Article

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