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-Xstate Resources Limited - Alvares Farm Out

Xstate Resources Limited (ASX: XST) ('Xstate' or 'the Company') advises that it and Sacgasco Limited (ASX: SGC) have agreed to a farmout ('farmout') with Bombora Natural Energy Pty Ltd ('BNE') for the large, conventional Alvares Gas Prospect located in the Sacramento Basin, onshore California.

Bombora will pay to the Farmors (Xstate and Sacgasco) within 30 days of the option exercise date US$ 20,000 (approximately A$ 26,000) toward past lease rentals and will earn a 10% working interest by

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