2018 Xstates progression, page-9

my apologies kingrose, i actually dont get what your saying, can you clarify? my point was the other posters attack on the management is and remains just slander, and to expand on that, the expertise of chris and cosimo in their respective fields is one of the main contributing reasons for my investment in XST, i actually invested into the share on the basis of dempsey and alvares, but after the introduction of cosimo to the board, my increase in holdings in xstate then was solely for the oil acquisition program where I see the value coming for the shareholders.. i think the exploration program, what we unfortunately are solely relying on today, has its drawbacks when its the only asset that brings value to the share-

tight sandstones dempsey
alvares - tight sandstones also has to be factored as possibility
operator with no expertise in this type of gas field development
driller with no experience in this type of play
high costs for unconventional exploration
high costs to solve engineering needed to produce results that can be used to eventually generate a commercial solution into the future
all partners not sufficiently funded for the journey

positive side

massive potential upside on any engineering success on unlocking gas from said tight sandstones - insert xstate has valuable geological insights and expertise to offer as a partner


whereas i see the oil acquisition program as one that can produce the biggest value to shareholders exponentially into the future..

• In addition to its current exploration portfolio, Xstate is pursuing a strategy of low risk conventional production enhancement opportunities onshore U.S.A focusing on distressed assets at or near the bottom of the cycle held by companies that are forced to sell.

• Seek production assets with substantial behind pipe or undeveloped reserves that can be bought to production quickly to achieve economies of scale and reduce field operating costs.

• Low risk Exploitation: Assemble a balanced portfolio of projects from low risk production enhancement and development opportunities in proven hydrocarbon basins whilst increasing exploration exposure in the longer term.

• In Control: target operatorship and/or large equity positions, in all projects provides control and ability to farm out to cover costs.

• Shareholder Value Focus: Lean, low overhead operations so that capital is spent on finding and developing hydrocarbons.

• Across the USA, successful junior producers are often ‘feedstock,’ i.e. majors and large independents use juniors for exploration, appraisal, and development.

• But to be successful, you must know the market, regulations, and people.

• Board Expertise: Strong and highly experienced Technical team of staff and selected consultants with deep knowledge of our areas of activity.


even more positive imho for xstate in the near term is the ongoing damages case that has significant upside value also to the shareholders