Past year: ▼ 48%(1.00c – 2.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Sept 2025investor presentation● Neutral
Project update and presentation: rig due 21 September, spud forecast 26 September, total depth of 2,600m expected around 6-8 October. Repeats known Diona facts: 55% chance of success, $2.7m well cost, 12.5 Bscfe gross unrisked.
17 Sept 2025director officer appointment● NeutralMajor
Greg Channon replaces Andrew Childs as Non-Executive Chairman; Childs stays on as a non-executive director. Channon is also Chief Geoscientist at Elixir Energy, the 49% partner in Diona, which is a related link worth noting.
16 Sept 2025drilling progress report● Neutral
Well pad for Diona-1 is finished, with cellar and conductor pipe installed. The Ventia 101 rig is expected around 22 September. Preparation step before the well is spudded.
16 Sept 2025listing compliance notice▲ GoodMajor
Trading suspension lifted from the start of trading on 16 September 2025 after re-compliance with ASX listing rules. Shares trade again for the first time since the 26 August 2024 suspension.
15 Sept 2025contract award▲ GoodMajor
Drilling contract signed with Easternwell (Ventia) for Diona-1, with rig mobilisation requested for 21 September and spud expected around 26 September. Management hopes for early results in the first weeks of October, a little later than the end-September hope.
12 Sept 2025other● Neutral
Top 20 shareholder list at 3 September 2025. The top 20 hold 34.98% of 251,380,863 shares; largest is Finclear Nominees at 5.11%, and Blue Sky Resources holds 4.34%. Re-listing paperwork.
12 Sept 2025capital raising announcement▲ Good
Pre-quotation disclosure confirms the offer closed with 107,200,000 shares issued at $0.02 for $2,144,000, plus 16,440,000 lead manager options at $0.04. Planned use includes $2.65m for Diona-1; pro forma net assets $5.14m. Shares total 251,380,863.
What it means for a shareholder
107m new shares at A$0.020 to raise about A$2.1m. That's 3.8% dilution: every existing holder's slice gets 3.8% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.00186% to 0.00179% of the company. To keep it you'd need 1,993 more shares - about A$40 at the issue price.
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12 Sept 2025capital raising announcement▲ GoodMajor
ASX says Xstate shares will be reinstated on 16 September 2025. The offer issued 107,200,000 shares at $0.02 (A$2,144,000), giving 251,380,863 shares. 16,440,000 lead manager options at $0.04 are escrowed for 24 months.
What it means for a shareholder
107m new shares at A$0.020 to raise about A$2.1m. That's 3.8% dilution: every existing holder's slice gets 3.8% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.00186% to 0.00179% of the company. To keep it you'd need 1,993 more shares - about A$40 at the issue price.
Create a free account to see this worked out for your own holding.
12 Sept 2025half year report● Neutral
Interim report for six months to 30 June 2025. Text provided is truncated; it recaps the Crest Jinn sale for a 3% royalty, the Anshof 20% sale to ADX's Kathari offsetting EUR547,075 of cash calls, and the Diona acquisition. No financial figures visible.
12 Sept 2025other● Neutral
Appendix 1A listing application and information checklist, dated 27 June 2025, for re-admission to the ASX official list. Administrative form restating corporate and board details; no new substance in the extract.
12 Sept 2025other● Neutral
Shareholder distribution schedule at 3 September 2025: 3,843 holders of 251,380,863 shares, with the 349 holders above 100,000 shares owning 76.69%. Re-listing paperwork; no new development.
12 Sept 2025other● Neutral
Corporate governance statement approved 9 September 2025, setting out compliance with ASX recommendations at re-listing. Administrative; it notes no measurable gender diversity objectives were set.
12 Sept 2025other● Neutral
Securities dealing (insider trading) policy lodged as part of re-listing paperwork. Policy document only, with no new company information.
3 Sept 2025capital raising announcement▲ GoodMajor
The re-compliance offer is completed, raising about $2.14m before costs. Diona acquisition completion now 4 September, reinstatement 11 September (ASX discretion), a further slip from 9 September. Drilling contract to be signed within a week, rig expected week of 22 September.
20 Aug 2025regulatory community update▲ Good
Queensland's resources department indicates approval for transfer of 51% of ATP 2077 (Diona) to Xstate, needing only the executed transfer form. Stamp duty is paid; completion remains 28 August. Management expects drilling and early results by end of September, with timing drifting slightly.
14 Aug 2025capital raising announcement▲ GoodMajor
Xstate says it has raised more than the $2.0m minimum from over 300 new applicants, putting it in position to meet ASX's reinstatement conditions. Timetable unchanged: completion 28 August, reinstatement 9 September 2025, at ASX's discretion.
7 Aug 2025capital raising announcement● Neutral
ASX advises it will re-admit Xstate if conditions are met, including raising $2m from at least 300 new applicants. Offer close extended to 21 August; completion 28 August; reinstatement now 9 September 2025. A second slip.
6 Aug 2025security holder rights change● Neutral
The 2.23-to-1 consolidation is completed after the 28 July approval, leaving 144,180,863 shares and 6,614,351 options at $0.067. Shares stay suspended, so trading in the new shares resumes only on reinstatement.
28 July 2025admin correction● Neutral
Updated company constitution incorporating amendments made by shareholders on 28 July 2025. The text provided is the constitution itself and shows no specific change.
24 July 2025capital raising announcement▼ Bad
Offer close extended from 24 July to 7 August 2025. Re-instatement to trading now targeted for 26 August; funds are returned if shares are not reinstated by 26 September 2025. First slip in the relisting timetable.
18 July 2025investor presentation● Neutral
Invitation to a 22 July 2025 investor webinar where Managing Director Andrew Bald will update on activities and the pending Diona acquisition. No new information.
16 July 2025other● Neutral
ASX's periodic list of entities suspended over three months. The extract provided does not show Xstate's entry, so no Xstate-specific information can be stated. Generic notice of 1 and 2 year removal deadlines.
4 July 2025investor presentation● Neutral
Investor presentation for the raise, restating Diona: 55% chance of success, a 2,300m target, about $2.7m well cost, and 6.4 Bscfe net to Xstate. Drilling is planned for Q3 2025. Repeats known facts.
3 July 2025capital raising announcement● Neutral
The re-compliance prospectus is now open for applications, with the $1.0m priority offer going to existing holders. Shareholder meeting set for 28 July 2025 to approve Diona and the consolidation. Opening of an already announced raise.
26 June 2025security holder rights change● Neutral
Notice of a 223-into-100 share consolidation, cutting shares from 321,519,150 to about 144.2m, and the options' exercise price rises from $0.03 to $0.067. It depends on shareholder approval at the 28 July 2025 meeting. The second consolidation after 2023's 10:1.
26 June 2025capital raising announcement● Neutral
Re-compliance prospectus lodged: 100m shares at $0.02 for a $2.0m minimum, up to 150m shares for $3.0m, with a $1.0m priority offer for existing holders. Closes 24 July 2025. Conditional on shareholder approval, ASX re-compliance and the Diona acquisition; described as highly speculative.
23 June 2025capital raising announcement● NeutralMajor
PAC Partners and BW Equities appointed joint lead managers for a prospectus raise of $2m minimum to $3m maximum at $0.02 per share, conditional on a 2.23:1 consolidation. Fee is 6% plus up to 25 million options at $0.04. Up from the earlier $1.5m minimum.
4 June 2025asset acquisition disposition▲ Good
Xstate assigns its 20% Anshof interest (about 14 bopd) to ADX's Kathari for EUR547,075, offset against the same amount of unpaid cash calls, so no cash changes hands. Full detail of the 4 June deal; prospectus targeted mid-June, shareholder meeting late July.
4 June 2025asset acquisition disposition● NeutralMajor
ADX agrees to take Xstate's 20% Anshof interest for EUR 547,075, set off against unpaid cash calls, subject to MND consent. Xstate then has no further Anshof rights or obligations. This ends its Austrian production exposure, begun with the 2021 farm-in.
9 Apr 2025other● Neutral
ASX's periodic list of entities suspended over three months. The extract provided does not show Xstate's entry, so no Xstate-specific information can be stated. Generic notice of 1 and 2 year removal deadlines.
