Xstate Resources Limited · ASX:XST

Xstate Resources — Investor Presentation (October 2014)

14 slides from Xstate Resources's investor presentation, Oct 15, 2014

  1. Slide 1: Xstate Broker Presentation

    ABN 96 009 217 154 For personal use only 15 October 2014 ASX Limited Electronic lodgement ASX Code: XST XSTATE BROKER PRESENTATION Please find attached copy of a broker presentation by Xstate Resources Limited. On behalf of the Board of Directors For information contact: Chris Hodge ‐ 9226 0866 Mana

  2. Slide 2: Xstate Resources Limited Company Presentation

    For personal use only XST Xstate Resources Limited Company Presentation Portfolio of TCF–scale October 2014 Prospects Onshore California

  3. 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

  4. Slide 4: The Xstate Board and Operating Philosophy

    For personal use only The Xstate Board and Operating Philosophy Xstate has a small but highly experienced Board with complementary skills • Chris Hodge (MD) is a structural geologist and petroleum geophysicist by training. Over a career spanning 35 years he has occupied senior positions at Ampolex (

  5. Slide 5: Portfolio of Assets

    For personal use only Portfolio of Assets >23,000 leased acres (100%) Gas: Sacramento Basin XST (current) XST (with XST (with Prospective WI Option) option – after Resource (100%) WI ** farmout) WI Sacramento Gas #F Alvares Appraisal 25% 25% 12.5% >2 TCF # Gas production 10% 25% 12.5% [0.7 mmcfgpd]

  6. Slide 6: 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 • Well in

  7. Slide 7: AMI with AOC

    For personal use only AMI with AOC AMI with AOC • Xstate has an AMI with Australian Oil Company (AOC) in California • Shared strategy and outlook • XST is 30% & AOC is 70% and Operator • Shared Perth office and administration • Small operations office in California… • …drilling and leasing operation

  8. Slide 8: The Sacramento Basin

    For personal use only The Sacramento Basin • Up to 10km Jurassic to recent marine and non- marine siliclastics • Producing reservoirs Late Cretaceous, Paleocene and Eocene • Produced ~10TCF+ 15mmbo • 47 discovered accumulations • Largest field Rio Vista 3.5 TCF • Upper Cretaceous to XST play types S

  9. Slide 9: Alvares Appraisal Project - >2 TCF

    For personal use only Alvares Appraisal Project - >2 TCF 25% equity (12.5% after farmout) The Alvares Project is on trend 50km from the geologically Alvares similar multi-Tcf Dempsey Tulainyo Project which is to be drilled by OXY (California's largest oil and gas company). Alvares and Tulainyo Tulai

  10. Slide 10: Alvares-1 Gas Discovery

    For personal use only Alvares -1 Gas Discovery • The Alvares -1 gas discovery was drilled within mapped closure over 30 years ago • Intersected >1,500 metres of strong gas shows below 2,500 metres and flowed pipeline quality gas to surface • Conventional clastic reservoirs • ~10,000 acres leased Wet

  11. Slide 11: Dempsey Prospect - TCF gas exploration well

    For personal use only Dempsey Prospect - 1 TCF gas exploration well – 7 reservoir targets XST 10% equity - option to increase to 25% Individual reservoirs 80 – 3,700 acres Mapped from 3D seismic

  12. Slide 12: Santa Maria Basin

    For personal use only Santa Maria Basin • Porter Ranch Project (XST 22.5%) Porter – Gross 9,051 acres Ranch – Covers 2 large surface anticlines – Naturally “shattered” Monterey reservoir at a depth of <1,500m – Prospective resource size (mean) ~10mmbbls recoverable - updip from recovered oil – Old o

  13. Slide 13: Activity

    For personal use only Activity 2014 – Exercise option to secure additional interests(?) – Finalisation of farmout agreement Dempsey and Alvares – Continue to generate new prospects and lease land – Oxy drilling of Alvares lookalike well “Tulainyo” – (best guess December) 2015 – Continue to generate

  14. Slide 14: Conclusions

    For personal use only Conclusions • Targeting low risk and/or multi -TCF prospects in California • Several prospects identified - fully or partially leased • 2 high value prospects already farmed out for full carry • Building a prospect portfolio with diversity, materiality and follow-up potential •

Xstate Resources — Investor Presentation (October 2014) on 6ix