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Xstate Resources Limited ( (AU:XST) ) has issued an update.
Xstate Resources Limited announced an operational update on the Diona-1 well in the Surat-Bowen basin, revealing a significant hydrocarbon-prone sequence in the Permian section. The discovery of an overpressured gas column suggests a promising potential for a larger unconventional resource, with further data acquisition and wireline logging planned to confirm the findings. The well’s strategic location near existing infrastructure offers a rapid path to market, enhancing its commercial viability.
More about Xstate Resources Limited
Xstate Resources Limited is an ASX-listed company operating in the oil and gas sector, with a focus on its Diona project in Queensland, Australia. The company holds a 51% interest in ATP 2077 and also possesses exploration assets in the Sacramento Basin, California.
YTD Price Performance: 5.00%
Average Trading Volume: 3,122,833
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$5.28M
See more data about XST stock on TipRanks’ Stock Analysis page.