Top Page
Xstate Resources Limited
(Sydney:XST)
Xstate Resources Limited (XST) vs. iShares MSCI Australia ETF (EWA)
Xstate Resources Limited Business Overview & Revenue Model
Xstate Resources Limited Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 317.77K | 618.38K | 7.81M | 19.41M | 8.42M | 60.81K |
| Gross Profit | -215.83K | 65.41K | 2.01M | -2.81M | -3.26M | 80.81K |
| EBITDA | -4.29M | -384.18K | 2.52M | 773.68K | -2.79M | -619.33K |
| Net Income | -5.29M | 1.18M | 1.40M | -3.48M | -4.64M | -652.43K |
Balance Sheet | ||||||
| Total Assets | 3.13M | 4.53M | 12.73M | 31.82M | 40.39M | 1.09M |
| Cash, Cash Equivalents and Short-Term Investments | 2.49M | 3.56M | 995.26K | 814.46K | 724.39K | 814.88K |
| Total Debt | 0.00 | 0.00 | 4.89K | 0.00 | 4.92K | 65.68K |
| Total Liabilities | 504.11K | 1.12M | 10.54M | 31.12M | 36.54M | 388.73K |
| Stockholders Equity | 2.63M | 3.40M | 2.20M | 698.84K | 3.85M | 704.30K |
Cash Flow | ||||||
| Free Cash Flow | -1.78M | -1.59M | -923.83K | 100.94K | -4.79M | -1.08M |
| Operating Cash Flow | -1.78M | -1.59M | -78.23K | 100.94K | -3.05M | -1.05M |
| Investing Cash Flow | 1.98M | 4.12M | 279.33K | 0.00 | -1.74M | -32.40K |
| Financing Cash Flow | -126.92K | -4.89K | -42.93K | -4.92K | 4.65M | 1.36M |
Xstate Resources Limited Technical Analysis
Xstate Resources Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
51 Neutral | AU$4.11M | ― | -9.49% | ― | -16.79% | -205.26% | |
45 Neutral | AU$7.72M | -0.49 | -120.24% | ― | -92.71% | -220.72% | |
45 Neutral | AU$3.90M | ― | -30.63% | ― | -32.65% | -66.67% | |
44 Neutral | AU$3.15M | ― | ― | ― | ― | ― | |
44 Neutral | AU$5.12M | -25.00 | -7.32% | ― | ― | 90.70% | |
37 Underperform | AU$3.14M | ― | -26.79% | ― | -26.88% | 24.00% |
Xstate Resources Limited Corporate Events
Xstate Resources Limited has lodged a corrected Appendix 3Y with the ASX for director Andrew Bald after identifying an error in the previously reported closing balance of his securities. The updated notice confirms an indirect acquisition of 500,000 fully paid ordinary shares on 18 December 2025 for $8,500, clarifying Bald’s actual holdings and underscoring the company’s focus on maintaining accurate disclosure and compliance with director interest reporting requirements.
Xstate Resources Limited has reported a change in the indirect holdings of director Andrew Bald, who holds securities through Hera Investments Pty Ltd and Bald Superannuation Pty Ltd. The company notified the market that Bald acquired 500,000 fully paid ordinary shares on 18 December 2025 via an on‑market purchase for $8,500, with no disposals recorded and no trades occurring during a closed period, signalling continued director support and confidence in the company’s equity while maintaining regulatory transparency for shareholders.
Xstate Resources Limited has reported a change in the indirect shareholding of director Greg Channon through his associated entity Ruby Lloyd Pty Ltd. Channon acquired 280,000 fully paid ordinary shares on-market for $5,040 on 18 December 2025, increasing his indirect holding to 516,993 ordinary shares, while his existing 1,793,722 unlisted options expiring 30 June 2026 remain unchanged. The transaction, conducted outside a closed period and requiring no special clearance, modestly boosts director alignment with shareholders but does not alter the company’s capital structure or indicate any broader strategic shift.
Xstate Resources Limited has disclosed a change in director Andrew Childs’ holdings, with the director acquiring 666,666 fully paid ordinary shares in an on-market purchase valued at $11,078. Following this transaction, Childs’ direct shareholding increased from 672,646 to 1,339,312 ordinary shares, while his indirect interests, held via Brazell Pty Ltd
Xstate Resources Limited (ASX: XST) is an Australian-listed resources company engaged in mineral exploration and development. The company has issued 68,046,402 unlisted options exercisable at $0.04 each until 17 December 2029 as part of previously announced transactions; the options are unquoted and, if exercised, would dilute existing shareholders but provide a potential source of future capital and align incentives for option holders and other stakeholders.
Xstate Resources Limited (ASX: XST) is the issuing entity; the release does not disclose the company’s industry, primary products or services, or market focus.
Xstate has issued 18,853,564 unlisted options on 17 December 2025, each exercisable at $0.04 on or before 17 December 2029. The securities are unquoted and were issued as part of previously announced transactions. The issuance expands the company’s potential equity overhang and, if exercised, would raise additional capital while diluting existing shareholders; it is material for stakeholders monitoring changes to the company’s capital structure and regulatory disclosures.
Xstate Resources Limited has applied to quote 3,500,000 fully paid ordinary shares issued on 17 December 2025 as part of a previously announced corporate transaction. The admission of these shares to ASX quotation increases the company’s issued capital, with expected effects on shareholder dilution and the company’s capital structure, while enabling trading of the newly issued securities and improving liquidity for stakeholders; the move signals ongoing corporate activity tied to earlier strategic arrangements.
Xstate Resources Limited (ASX: XST) is an ASX-listed resources company focused on mineral resources and exploration. The company has applied for quotation of 136,092,826 ordinary fully paid shares issued on 17 December 2025, which will be quoted on the ASX under the code XST. This issuance increases the company’s issued capital and public float, may dilute existing shareholders’ percentage holdings, and finalises previously announced corporate transactions; the expanded quoted share base is likely to affect liquidity and investor holdings and reflects progress in the company’s capital management and corporate activities.
Xstate Resources Limited has announced significant progress in its gas exploration efforts in the Taroom Trough, with the successful drilling and casing of the Diona-1 well. The well has shown promising results with significant gas shows over a 181-meter interval and a net pay of 23 meters across three zones in the Permian sands. This development positions Xstate as a potential leader in unconventional Basin Centred Gas accumulation, which could enhance its market position and offer substantial benefits to stakeholders.
Xstate Resources Limited has announced a proposed issue of 3,500,000 ordinary fully paid securities, with the issue date set for December 17, 2025. This move is part of a placement or other type of issue, and the company has applied for the quotation of these securities on the ASX, which could potentially enhance its capital base and market presence.
Xstate Resources Limited has announced a prospectus offering new options and shares to raise capital. The company is offering up to 86,899,977 new options to placement participants, 10,000,000 new options to certain contractors, and 1,000 new shares at $0.022 each. This move aims to satisfy financial obligations and potentially strengthen the company’s financial position.
Xstate Resources Limited announced the successful completion of its General Meeting, with all resolutions passed by a poll. The company also completed the transaction to dispose of its Californian Project, marking a significant step in its strategic realignment. This development is expected to impact the company’s operational focus and may influence its market positioning in the oil and gas industry.
Xstate Resources Limited has announced the disposal of its Californian projects to Australian Oil and Gas Co Limited, allowing Xstate to focus on its Diona project. This strategic move eliminates Xstate’s accrued liabilities and operational costs associated with the Californian projects, enabling the company to concentrate on maximizing the value of its Diona gas project, which is strategically positioned near existing infrastructure for rapid market access.
Xstate Resources Limited issued a clarification regarding a seismic image from a historical survey in their recent presentation. The image, originally from a 1984 survey by Bridge Oil Limited, was included to meet ASX Listing Rule 5.29 requirements, impacting the company’s transparency and compliance with regulatory standards.
Xstate Resources Limited has announced a General Meeting of shareholders scheduled for 10 December 2025, where important decisions affecting shareholders will be discussed. The company has opted for digital distribution of the Notice of Meeting, encouraging shareholders to access documents online, reflecting a move towards more sustainable practices and efficient communication with stakeholders.
Xstate Resources Limited has announced the issuance of 37,707,129 ordinary fully paid securities, which are set to be quoted on the ASX. This move is part of a previously announced transaction and is expected to impact the company’s market operations by potentially increasing its capital base and enhancing its liquidity position.
Xstate Resources Limited has issued a cleansing prospectus to offer up to 1,000 new shares at a price of $0.022 per share, aiming to raise $22. This prospectus is primarily intended to remove trading restrictions on previously issued shares, thereby facilitating greater liquidity and flexibility for shareholders. The offering is described as highly speculative, indicating potential risks for investors. The move could potentially impact the company’s market operations by enhancing share tradability and possibly attracting new investors, although it also underscores the speculative nature of the investment.
Xstate Resources Limited announced significant developments in its Diona project in Queensland, with the drilling of the Diona-1 well revealing a substantial gas column across multiple formations. This discovery suggests a potential Basin Centred Gas play, leading to an upgraded resource estimate. The company’s shares were re-quoted on the ASX following a successful capital raising, and a new Non-Executive Chairman was appointed. These developments are expected to enhance shareholder value and position the company for future growth.
Xstate Resources Limited has announced a proposed issue of securities, including 68,046,413 unlisted options and 136,092,826 ordinary fully paid shares. The issuance is set for December 9, 2025, and aims to enhance the company’s financial position and operational capabilities, potentially impacting its market presence and stakeholder interests.
Xstate Resources Limited has announced a proposed issue of securities, including 18,853,564 unlisted options and 37,707,129 ordinary fully paid shares, scheduled for issuance on November 7, 2025. This strategic move aims to raise capital to support the company’s ongoing operations and growth initiatives, potentially strengthening its market position and offering new opportunities for stakeholders.
Xstate Resources Limited announced a successful capital raising of $3.82 million through a two-tranche placement of shares, aimed at advancing the appraisal and production testing of its Diona-1 well. This funding will support further exploration activities and enhance the company’s working capital, positioning Xstate advantageously for the next phase of its Diona project. The Diona project, strategically located near existing infrastructure in Queensland’s Surat-Bowen basin, offers potential for a rapid market path, enhancing Xstate’s industry positioning and stakeholder value.
Xstate Resources Limited has requested a trading halt on its securities, effective from 29 October 2025, pending an announcement regarding a capital raising. This move indicates that the company is likely seeking to secure additional funding, which could impact its financial standing and strategic operations. The trading halt will remain in place until the announcement is made or until normal trading resumes on 31 October 2025, whichever comes first.
Xstate Resources Limited announced the successful drilling, casing, and suspension of the Diona-1 well in October 2025, with significant gas shows over a 181-meter gross interval and 23 meters of net pay across three zones in the Permian. The discovery suggests potential for unconventional Basin Centred Gas accumulation, with plans for stimulation and testing underway, potentially impacting the company’s operational capabilities and market positioning.