Sign up Australia
Proactive Investors - Run By Investors For Investors

Xstate Resources granted halt, has farm out to divulge

Xstate Resources granted halt, has farm out to divulge

Xstate Resources (ASX:XST) has been granted a trading halt this morning by the ASX pending details of a farm out.

Currently Xstate is focussed on multi-trillion cubic feet of gas prospects onshore California with partner the Australian Oil Company (ASX:AOC).

Earlier in the month Australian Oil Company has commenced permitting to drill the multi-zone, conventional Dempsey Gas Prospect located below AOC production facilities in the northern Sacramento Basin, onshore California

Xstate Resources has a working interest of 10%, with AOC 55% and private interests 35%.

AOC and XST have an option, on terms to be finalized, to increase their working interests to 60% and 25% respectively.

The halt will remain in place until the opening of trade on Tuesday 30th September 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full XST profile View Profile

Xstate Resources Ltd Timeline

Newswire
February 15 2017
Newswire
August 31 2015
Newswire
February 14 2014

Related Articles

Peninsula Energy's at Proactive's CEO Sessions
November 16 2017
David Coyne at Proactive's CEO Sessions in Melbourne and Sydney.
picture of crusher
August 31 2017
Shares jump 12% as Oman's sovereign wealth fund heavily backs Salamanca project

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use