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The latest announcement is out from Xstate Resources Limited ( (AU:XST) ).
Xstate Resources Limited has announced the disposal of its 20% working interest in the Anshof Project in Austria to Kathari Energia GmbH, a subsidiary of ADX Energy Limited. This strategic move allows Xstate to eliminate liabilities associated with the Anshof Project, thereby strengthening its balance sheet and enabling the company to concentrate on its Diona project. The disposal is part of Xstate’s broader strategy to simplify its portfolio and prepare for a re-listing on the ASX, tentatively scheduled for July 2025. The decision reflects a shift in focus towards more promising ventures, potentially impacting stakeholders by reducing operational costs and liabilities.
More about Xstate Resources Limited
Xstate Resources Limited is an ASX-listed company operating in the oil and gas sector. It holds assets in California, USA, and has previously managed oil production assets in Austria and Alberta, Canada. The company is currently focusing on its Diona project located in the Surat Bowen basin of South-West Queensland.
Technical Sentiment Signal: Sell
Current Market Cap: A$2.89M
See more insights into XST stock on TipRanks’ Stock Analysis page.