Xstate Resources Limited · ASX:XST
Xstate Resources — Shareholder Meeting (May 2019)
14 slides from Xstate Resources's shareholder meeting presentation, May 30, 2019
Slide 1: Company Update – Annual General Meeting
GROWTH THROUGH EXPLORATION, APPRAISAL & ACQUISITION OF EXISTING PRODUCTION For personal use only Company Update Annual General Meeting Northern California South East Texas 30 May 2019 Gas Projects Oil & Gas Projects Production, Appraisal & Exploration Exploration USA focused exploration, appraisal a
Slide 2: Disclaimer
Disclaimer Extent of Information This document has been prepared by Xstate Resources Limited (“Xstate” or “Company”). This Presentation, including the information contained in this disclaimer, does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and ne
Slide 3: Company Overview
Company Overview • North American focused E&P company with legacy assets located in Northern Corporate Summary: ASX:XST as at 29 May 2019 California and a recent farm in acquisition in South East Texas. For personal use only Current Shares on Issue 1,140.5 million • Continued focus on business devel
Slide 4: Strategic Update
Strategic Update Xstate is undergoing a strategic shift to “reset” the Company. For personal use only • For new business, the shift is required due to a lack of suitable production opportunities commensurate with Xstate’s size, risk profile and funding capacity • For the existing exploration busines
Slide 5: South East Texas Farm In – Transaction Rationale
South East Texas Farm In – Transaction Rationale • Why shift from California? o despite numerous production opportunities reviewed, Xstate has been unable to get traction (high transactional risk) For personal use only • Why move to Texas? o the best USA State to explore for and to produce oil and g
Slide 6: South East Texas – Champion Project Farm In
South East Texas – Champion Project Farm In • Xstate has acquired a 25%1 working interest (net revenue interest 18.75%) in an oil and Location Map – Newton County, TX gas exploration opportunity onshore Newton County, Texas. For personal use only • Low risk exploration; high value inventory of conve
Slide 7: Sacramento Basin
Sacramento Basin Investment Logic Targeting World Class Natural Gas Fields • Targeting low risk and/or multi - Tcf projects and prospects onshore For personal use only SacramentoSacgasco’s investment premise is that the Sacramento Basin Basin, California. Primary Focus • holdsuse Technical edge: Mul
Slide 8: Producing Assets
Producing Assets • Strategy: access and produce remaining natural gas resources Quarterly Gross Production – Sacramento Basin from existing currently producing and / or idle well bores, For personal use only through well work overs, recompletion or new zone 1.00 0.90 completions, and pipeline connec
Slide 9: Alvares Project
Alvares Project Alvares Appraisal Project Alvares 1 Re-entry Well ✓ Well drilled for oil in 1982 • Originally drilled for oil in 1982 - found extensive natural gas shows ✓ Found extensive natural gas shows and flowed gas to and flowed gas to surface. surface For personal use only • Turbidite fan ✓sa
Slide 10: Alvares Appraisal Project
Alvares 1 Appraisal Project Alvares Project For personal use only Composite well log from Alvares – 1 showing the lithology (yellow is sandstone, brown is shale) and the strong gas shows encountered while drilling Source: Sacgasco Limited; Good Oil Conference 13 September 2018 Diagrammatic (Not To S
Slide 11: Anzus Prospect
Anzus Prospect Anzus 1 Anzus • Anzus is a large 4-way Prospect dip closed structure in a similar structural position Example Seismic Across Anzus Prospect Well (Not to Scale) to the Dempsey gas discovery and substantially ready for drilling ✓ Interpret better sandstone reservoirs; Turbidite Channels
Slide 12: Litigation Update: Singapore Supreme Court
Litigation Update: Singapore Supreme Court • As previously advised Xstate is seeking to enforce the Western Australian Supreme Court judgment “(Australian Judgment”) against the three Singapore based defendants. For personal use only • The Australian Judgment was awarded in favor of Xstate on Decemb
Slide 13: Activity Outlook 2019
Activity Outlook 2019 For personal use only June July August September October November December Ongoing Business Development Falcon-1 Spud Galaxie-1 Spud Alvares re-entry and/or Anzus spud (subject to a farmin partner being acquired) Ongoing Contempt Negotiations Hearing 2Q 2019 Activities 1H 2019
Slide 14: Contact
Contact Cosimo Damiano Managing Director For personal use only Xstate Resources Limited Email: cosimodamiano@xstate.com.au Registered Corporate Office – Australia Level 1, 31 Cliff Street Fremantle W.A. 6160 Tel: +61 8 9435 3200 | Fax: +61 8 6444 7408 Australia - Postal Address PO Box 584, Fremantle