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Xstate Resources Limited ( (AU:XST) ) has shared an announcement.
Xstate Resources Limited has announced an operational update on the drilling of its Diona-1 well in the Surat-Bowen Basin, Queensland. The company has successfully registered its 51% interest in ATP 2077 and is progressing well with the drilling operations, expecting to reach the Showgrounds formation soon. The Diona-1 well targets three proven hydrocarbon reservoirs and, if successful, offers a rapid path to market due to its proximity to the Waggamba pipeline. This development represents a promising opportunity for Xstate, with a significant chance of geologic success and potential for substantial resource discovery.
More about Xstate Resources Limited
Xstate Resources Limited (ASX:XST) is an ASX-listed company operating in the oil and gas sector, primarily focusing on its Diona project in Queensland, Australia. The company holds a 51% interest in ATP 2077 and has exploration assets in the Sacramento Basin, California.
YTD Price Performance: -5.00%
Average Trading Volume: 3,211,477
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$5.28M
See more insights into XST stock on TipRanks’ Stock Analysis page.