Xstate Resources Limited · ASX:XST
Xstate Resources — Shareholder Meeting (May 2015)
8 slides from Xstate Resources's shareholder meeting presentation, May 20, 2015
Slide 1: Annual General Meeting Presentation
ABN 96 009 217 154 For personal use only 20 May 2015 ASX Limited Electronic lodgement ASX Code: XST ANNUAL GENERAL MEETING PRESENTATION Attached is a copy of a presentation to be given by the Company's Managing Director, Mr Chris Hodge, at today's Annual General Meeting. The presentation will also b
Slide 2: XST Positioned for Success in a low oil price environment
For personal use only XST Positioned for Success in a low oil price Xstate Resources Limited environment Annual General Portfolio of TCF–scale Meeting Prospects 20 May 2015 Onshore California
Slide 3: Corporate Information
For personal use only Corporate Information Shares on Issue ~180 million Unlisted Options 17.0 million at 6-10 cents expire 31/12/15 19.5 million at 4-8 cents expire 31/05/16 2.5 million at 5 cents expire 31/12/16 Top 10 shareholders 35% Top 20 shareholders 48% Directors >5% Directors Chris Hodge: M
Slide 4: California Strategy – prolific old basins, new ideas
For personal use only California Strategy – prolific old basins, new ideas Why California? Strategy • Proven and prolific conventional • Innovative geological and geophysical petroleum systems and production interpretation to identify prospects history • Take up ground floor land positions over pros
Slide 5: Tehama Early Cretaceous Basin – our technical edge
For personal use only Tehama Early Cretaceous Basin – our technical edge Historical Sacramento Gas Basin and Production Depth of current drilling = the Deeper Tehama sub-basin The deeper Tehama-sub Basin contains the play types that XST is chasing – older but not deeper and under-explored.
Slide 6: Sacramento Basin - high potential prospects
For personal use only Sacramento Basin - high potential prospects Prospect Size 100% Value Value net to Chance of Estimated Cost to Drill XST Technical Total Depth Success (metres) Best estimate – US$ millions US$ millions To recover US$ millions recoverable measureable quantities of gas Alvares 2.4
Slide 7: Gas Market in California
For personal use only Gas Market in California • Gas Prices in California remain at attractive levels for the development of large conventional sandstone reservoirs - gas trades at a premium to southern states • Current gas market in California is 2.5 TCF per year – 90% of which is imported • Existi
Slide 8: 2015 Activity
For personal use only 2015 Activity – Secure farmin partner for Dempsey and Alvares prospects – Potentially exercise option to secure additional interests over Dempsey and other 3D prospects – Continue to generate new prospects and lease land – Drill Dempsey (~1 TCF gas – via farmout) – Drill Alvare