EnergyOil & Gas
Xstate Resources Limited

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.

Quick facts: Xstate Resources Limited

Price: $0.00

Market: ASX
Market Cap: $2.28 m

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