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Xstate Resources Limited ( (AU:XST) ) has shared an update.
Xstate Resources Limited has commenced drilling the Diona-1 well in the Surat-Bowen Basin, Queensland, with the Ventia 101 rig now operational. The well, targeting the Showgrounds, Tinowon, and Wallabella formations, aims to reach a total depth of 2,600 meters within 15 days, potentially enhancing Xstate’s gas production capabilities and market positioning.
More about Xstate Resources Limited
Xstate Resources Limited operates in the energy sector, focusing on the exploration and development of conventional gas prospects. The company holds a 51% working interest in the Diona Block of ATP 2077, located in the Surat-Bowen Basin, Queensland, and is positioned near existing gas infrastructure.
YTD Price Performance: 20.0%
Average Trading Volume: 3,145,312
Technical Sentiment Signal: Sell
Current Market Cap: A$6.03M
See more data about XST stock on TipRanks’ Stock Analysis page.