The latest announcement is out from Xstate Resources Limited ( (AU:XST) ).
Xstate Resources Limited has announced the acquisition of a 51% interest in the Diona Gas Project, located in the Surat-Bowen Basin, Queensland. This strategic move positions Xstate as the operator of the project, with plans to accelerate the exploration program by drilling an exploration well, Diona-1, in the third quarter of 2025. The project targets three stacked reservoir objectives, with a potential mean prospective resource of 6.4 billion standard cubic feet equivalent. The acquisition is expected to enhance Xstate’s industry positioning and facilitate its re-admission to the ASX, subject to compliance with listing rules.
More about Xstate Resources Limited
Xstate Resources Limited is a company operating in the energy sector, focusing on the exploration and development of gas projects. The company is primarily involved in acquiring and managing interests in gas fields, with a market focus on expanding its operations within the Surat-Bowen Basin in Queensland, Australia.
Technical Sentiment Signal: Strong Buy
Current Market Cap: €1.6M
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