All tagged XState Resources ASX:XST

Xstate Resources - Subscription Agreements Funding Update

Xstate Resources Limited (ASX:XST) has advised that the $1.25m deposit to be paid by Indonesian investors has been held up by an administrative delay. The Company is confident that the payment will be received. The Company has agreed to extend the due date out to 31 January 2017, with the Sansinena Project acquisition still expected to occur on 17 February 2017.

Xstate - Los Angeles Basin Oil Field Acquisition Update

Xstate Resources (ASX:XST) has extended the due diligence period on its LA Basin Oil Fields acquisition to 16 December 2016, enabling the company to secure all available field data and engage directly with Matrix Oil Corp, the operator of the Sansinena field. The engagement has provided an intimate understanding of the current field operations as well as the planned productivity enhancements and reserves development work program.

XState Resources Limited - Los Angeles Basin Oil Field Acquisition Update

Xstate Resources has provided an update and further material information in regards to the Los Angeles Basin Oil Fields acquisition announced at the start of November. The Company said the interest in the Sansinena oil field, which is the primary asset being acquired, would provide shareholders with immediate production, cash flow and low cost reserves. The implied reserve acquisition multiple based on 1P reserves is an attractive US$2.10/bbl.