tiprankstipranks
Trending News
More News >

Xstate Resources Exits Austrian Project to Focus on Diona

Story Highlights
Xstate Resources Exits Austrian Project to Focus on Diona

Confident Investing Starts Here:

An update from ADX Energy ( (AU:ADX) ) is now available.

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 its liabilities associated with the project and focus on its Diona project in Queensland. The disposal is expected to simplify Xstate’s portfolio, strengthen its balance sheet, and prepare the company for its upcoming re-listing process, tentatively set for July 2025.

More about ADX Energy

Xstate Resources Limited (ASX:XST) is an ASX-listed company operating in the oil and gas sector. The company has assets in California, USA, and previously held production assets in Austria and Alberta, Canada. Recently, Xstate acquired the Diona project in the Surat Bowen basin of South-West Queensland.

Average Trading Volume: 527,066

Technical Sentiment Signal: Sell

Current Market Cap: A$20.26M

For detailed information about ADX stock, go to TipRanks’ Stock Analysis page.

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App