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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.
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