Ann: SGC: Dempsey to Produce Commercial Gas, page-12

i think their agm needs to get slotted prior to the contract date

XST

• Xstate has received a non refundable deposit of US$35,000 from Raven.
• Raven has exclusivity under the Binding Letter of Intent until July 15, 2018 to pay the balance of the USD cash component being US$465,000.

REL

Further to the Company’s announcement of 7 May 2018, Raven remains in ongoing discussions in relation to increasing its Sacramento Basin natural gas interests. Whilst currently incomplete and non-binding, these negotiations are expected to conclude before 30 June 2018.
Additionally, the Company is continuing preparations for an extraordinary general meeting of shareholders (EGM) to be held in July 2018, with a notice of meeting expected to be sent to shareholders within the coming weeks. It is anticipated that trading in the Company’s securities will remain suspended until the EGM is completed.

but if it looks like going longer they can drop another $35k into the tin to secure dempsey..

Raven now has an exclusivity period until July 15, 2018 to pay the balance of US$465,000 (total US$500,000) or make an additional non refundable deposit of US$35,000 to extend closing to August 31, 2018, at which point the balance is due and payable.

more importantly for xstate is that there is further potential for Raven and Xstate to collaborate on oil and gas aquisitions, which i hope will come about with the Raven

As part of the Acquisition and upon Completion, the Company and Xstate have agreed to jointly pursue oil and gas opportunities onshore North America. As part of the joint collaboration Mr Cosimo Damiano will be appointed to the board of Raven Energy USA Holdings LLC upon its incorporation (Raven USA). Mr Damiano brings to Raven USA extensive commercial and finance knowledge in the United States of America. Mr Damiano’s experience involves the strategic analysis and financial modelling of oil and gas companies for global investment banks and energy commodity trading in a principal investment role. Mr Damiano has a strong commercial understanding and analytical analysis of financing oil and gas assets across various geographic and fiscal regimes. Mr Damaiano is currently the Managing Director of Xstate.

the last release from Raven a few days back pointed to this being still in play

The Company remains committed to growing the overall scale of its US focused energy business through further North American oil and gas acquisitions and remains engaged with leading US affiliated banks and institutions with respect to potential financing alternatives

I hope all of this becomes more evident in the next few weeks as raven moves to come out of a very long suspension

fingers crossed the Raven alliance is able to bring about progress for xstate and its shareholders that has been frustrated by the sanston drama