XST - Xstate Resources - Aussie Stock Forums

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  1. #1

    Post XST - Xstate Resources

    Watching this one closely as the week goes on.
    I will be in if I can pick up for low 50`s
    Cents and sensibility.

  2. #2

    Default Re: XST - XState Resources

    Not much solid info, only what Grigor has been pumping about them in The Financial Review and on the web.......

  3. #3

    Default Re: XST - XState Resources

    Update on XST.

    Drilling close to completion on historically high uranium containing breccia pipes in arizona. Credit Suisse just bought 6%, director $500K worth at 50c.

    With U prices at $91/lb, decent results here could move the sp up considerably. DYOR.

  4. #4

    Default Re: XST - XState Resources

    People have been looking at recent activity to rate the company so I'll add in my bit. I did some research on this company and while some things look good other parts concern me. Out of the 3 directors the one whos been on the board of the most companies and the biggest ones, owns 0 shares in the company. And in its short life it has had a fair number of board changes:

    Michael Taverner, appointed May 2004 and resigned September 2006.
    Anthony Crimmins, appointed November 2004 and resigned September 2006.
    Gregory Bender, appointed November 2004 and resigned April 2006.
    David Roche appointed April 2006 and resigned September 2006.

    The name changed last year too from Oriental Crystal International Limited but that was to reflect the change in the company's activiities.

    I think I'll wait for the ann of what they find.

  5. #5

    Default Re: XST - XState Resources

    Still watching this one. Unsual activity from 40c to 48c on no annoucement unless people didnt like the old Director. I wonder if theres an new announcement coming soon.

  6. #6

    Default Re: XST - XState Resources

    Some interesting events happening here, XST dropped a pretty awful announcement not that long ago and the market reacted swiftly with the large fall in SP. Soon after there was another announcement concerning CS. I thought they were bailing out, instead they bought an even larger slice of the company.


  7. #7

    Default Re: XST - XState Resources

    I'm not understanding it either..

    *tin foil hat on* : perhaps they know pretty much there is uranium there so bought in cheap

    Up 10% today!

  8. #8
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: XST - Xstate Resources

    MC - $1.6m
    SP - 1.6c
    Shares - 101m
    Options - 48m
    Cash - $548k

    Although results from the Sidi Dhaher well flow tests were unsuccessful, the company’s remaining assets have significant prospectivity. The Board and management of Xstate are focused on using remaining cash reserves to realize maximum value from the significant Contingent (Discovered) and Prospective Resources within the company’s existing exploration assets and to seek new projects to recapitalise the company.


    Xstate is assessed to have resources of over 268 million barrels of oil equivalent (net to its interest) in its exploration assets.

    The onshore Sidi Dhaher 1 exploration well was drilled in September and October 2011 and after logging and recovering oil samples, the well was cased to make it safe for temporary plugging and future re-entry for flow testing. Flow testing was carried out in June 2012. Despite the indications of oil noted above, the well flowed only water due to low oil saturation, and the well has been plugged and abandoned.

    The onshore Chorbane Permit Area is less than 50 kilometres from the oil industry support centre at Sfax, and is conveniently located relative to a major oil export facility and connecting oil pipelines with available ullage, and also gas transmission pipelines which provide connections to European gas markets. This infrastructure could facilitate early development of any discovery in the permit.

    Enhanced Chorbane Permit Prospectivity
    Despite the failure to flow on production test, the recovery of oil at Sidi Dhaher on wireline tests has enhanced the prospectivity of almost the entire permit area. It is also noteworthy that part of the Chaal gas discovery is mapped to extend onto the Chorbane permit.
    A number of attractive prospects for drilling in the future are currently being reviewed.

    OFFSHORE KERKOUANE PERMIT – upgraded prospectivity (XST - 10% with Option to Increase to 20%
    over all but 150 km2 around the Lambouka Discovery)
    The Kerkouane and Pantelleria Permits offshore Tunisia and Italy cover 3,725 km2 and contain three (3) discovery wells (Dougga, Kerkouane and Lambouka) and no dry holes have been drilled on this permit.
    Assessment of potential drilling targets for 2013 continues.

    Anticipated September Quarter Activities
    Offshore permit activities in the next quarter will continue to be focused on the method by which the discovered oil and gas potential and the enhanced prospectivity can be fully appraised in the most efficient manner.
    Xstate will pursue a strategy to realize value from the gas discoveries in the offshore permits.
    Approximately 20% of the Chorbane Permit will be relinquished as a condition of renewal of the Permit until July 2015.The prospectivity of the remaining onshore Chorbane permit will be reviewed and a plan for future exploration activity developed in the September quarter.

    The company continues to seek and review new exploration projects and /or merger opportunities that enhance shareholder value. In recognition of the current financial position of the Company, the Board has instituted changes that will see corporate and administration costs reduced by approximately 40% until such time as the Company is successfully recapitalised.
    In June the Chairman, David Whitby, resigned and as a cost mitigation measure he will not be replaced.

    On 13 July 2012 escrow restrictions were lifted on 4,483,268 fully paid ordinary shares and 9,840,237 options expiring on 30 June 2013.
    On 24 May 2012 shareholders approved the Company placing up to 25 million shares by 24 August 2012.
    Attached Images
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  9. #9

    Default Re: XST - Xstate Resources

    Worth looking at again...
    following SEA STX SBR TIG TPD


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