Proactive Investors - Run By Investors For Investors

XState Resources shares in pre-open pending capital raising announcement

XState Resources shares in pre-open pending capital raising announcement

XState Resources (ASX: XST) has been granted a trading halt by the ASX, pending a capital raising announcement, with the company's shares placed in pre-open.

XState did not indicate where the potential inflow of funds will be allocated, but the company is currently preparing to spud the plus 300 million barrel Sidi Dhaher prospect well.

The company is exploring in both Tunisia and Italy, and has an extensive asset base including 6150 square kilometres of prospective permits in under explored basins.

The key factor for XState are the held permits are strategically located near oil and gas infrastructure, providing the potential to pipeline gas to the European market.


View full XST profile View Profile

Xstate Resources Ltd Timeline

February 15 2017
August 31 2015

Related Articles

oil and gas operations
December 04 2018
The acquisitive oiler has told investors that financial results for 2018 will be ahead of previous expectations
January 16 2019
Around 30% of total US oil production takes place in the Permian Basin
Pulse Oil President Drew Cadenhead and Pulse Oil CEO Garth Johnson
May 09 2018
Investors see future windfall as the firm employs modern oil recovery methods to try to unlock oil trapped in two Nisku reefs in Bigoray.

© Proactive Investors 2019

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