Powered by

-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

Sign up for unrestricted access to 200+ subscription services.
Already have an account? Click here to login.

RelSci News & Alerts gets you:

  • 5 free articles a month from top subscription outlets like the Financial Times, New York Times, and Washington Post
  • Competitive business intelligence through daily data updates
  • Custom feeds on target high-value individuals, companies, industries, and topics delivered straight to your inbox