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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.

 

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Xstate Resources Ltd Timeline

Newswire
February 15 2017
Newswire
August 31 2015

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