Onwards and upwards

Plenty of buying recently probably due a) low market cap and b) several events due shortly which should cause a significant rerate to the share price;

Singapore legal – action taken to enforce claim

As announced today Hong has commenced paying $500k.

Contempt proceedings continuing against Tanzil for recovery of debt.


New Oil and Gas Assets – delivering immediate cash flow and near term upside.

“Late January 2019, Xstate entered into a Strategic Alliance with Hillcrest Petroleum Ltd to jointly pursue oil and gas assets onshore Canada and USA. Xstate believes this is a valuable alliance that has the potential to benefit both Company’s shareholders. Both parties are currently reviewing and working on potential asset acquisition targets that deliver immediate cash flow and near term upside”.

Alvares Appraisal Project – 2.4+ Tcf (~400 million boe)

>1,500 metres of gas shows from 2,500 metres depth with pipeline quality gas flowing to surface.

Located close to large natural gas pipelines along Interstate 5 providing access to premium Californian gas market.

Total (100%) un-risked recoverable prospective resource on a best estimate deterministic basis: 2.4+ Tcf (~400 million boe).

Xstate working interest 25% (~100 million boe).

Testing program is planned for the early North American summer (June/July).