Xstate Resources Limited · ASX:XST
Xstate Resources — Investor Presentation (July 2025)
19 slides from Xstate Resources's investor presentation, Jul 4, 2025
Slide 1: Investor Presentation - ASX Announcement
ABN 96 009 217 154 4 July 2025 Announcement to ASX Electronic lodgement INVESTOR PRESENTATION Xstate Resources Limited (ASX:XST) (Xstate or the Company) has commenced the capital raising for its re-compliance under the terms of the Company’s Prospectus dated 26th June 2025. Please find attached a cop
Slide 2: Ready to drill in Q3 2025
Ready to drill in Q3 2025 Andrew Bald (Managing Director) bald@xstateresources.com.au Xstate Resources Limited (ASX:XST) July 2025 www.xstateresources.com.au Download the Prospectus at https://www.xstateresources.com/access-terms
Slide 3: Diona Project Precis
DIONA PROJECT Precis • Proven hydrocarbon province • Multiple producing fields nearby • High profile and upcoming ASX neighbours 1 • High chance of success at 55%1 • Shallow target 2,300m • Low cost drilling at $2.7m • Very close to infrastructure including pipeline and processing plant • Current hi
Slide 4: The Xstate Story
THE TheXSTATE XstateSTORY Story Farming into Diona block in The Diona Prospect has Xstate is re-listing as Farming into Diona block in Surat-Bowen a total basin, un-risked QLD, mean ExtensiveOperator geoscience studies characterize the drilling in the proven Queensland, Australia, currently currentl
Slide 5: Diona - Location
Diona - Location • Premium Hydrocarbon country • Proximal to numerous other oil and gas discoveries in the Showgrounds Formation • Surrounded by Waggamba, Taylor, Silver Springs, Louise u and Alton fields • 70km west of Omega’s Canyon-1 and Canyon-2 • 12km west of Waggamba gas field (100% AGL) • 11k
Slide 6: Diona - Geology
4-way dip closed anticline with stratigraphic upside Diona - Geology Situated on a structural nose plunging into source rock depo-centre Structural trap covers 1.0 km2 Stratigraphic trap covers 13.7 km2 Unrisked 100% Gross Mean Prospective Resource 12.5 BCFE Technical Risking of any one
Slide 7: Diona - Prospectivity
Diona - Prospectivity Diona prospect targets 3 stacked reservoir objectives at Showgrounds, Upper Tinowon and Wallabella Sandstone levels all of which can be tested via a single vertical exploration well The Tinowon and Wallabella Sandstone targets have additional stratigraphically trapped upsid
Slide 8: Diona - Prospectivity
721500 731500 741500 Diona - Prospectivity Prospect B: 6947600 6947600 • 1.7km2 closure at primary target Showgrounds Sandstone level • Promising opportunity with gas or light oil potential Diona • Reprocessed seismic will be used to refine mapping and define additional potential at Tinowon & Wallab
Slide 9: Diona – Prospective Resources
Diona – Prospective Resources Reservoir Objective Gross Unrisked Prospective Resource Hydrocarbon Type Pg Pd 1U 2U 3U Mean Showgrounds 0.9 1.9 4.1 2.3 39% Tinowon 0.3 3.1 15.7 6.1 20% Gas Equivalent (Bscfe) Wallabella 0.2 2.1 10.6 4.1 16% Probabilistic Sum 0.7 2.7 12.2 5.1 55% 85% Arithmetic Sum 12.
Slide 10: Deal Terms
DEAL TERMS XST to acquire a 51% interest in the Diona Sub-Block of ATP 2077 Vendor XST has paid a $250,000 non- refundable deposit to Elixir Elixir Energy (ASX: EXR) is an oil and gas XST will be the operator 1 explorer in Queensland XST to undertake an accelerated work program - targeting c
Slide 11: Use of Funds
Use of Funds Exploration and Development 2% Capital Raising Costs Use of funds $2m Minimum % $3m Maximum % 4% Subscription Subscription ($) ($) Diona-1 Well 2,650,000 56% 2,650,000 46% Exploration & Development 120,000 2% 120,000 2% Costs of the Offer 319,206 7% 439,206 8% Working Capital 1,651,294
Slide 12: Capital Structure
Capital Structure* $0.02c1 294 million1 Share price Ordinary shares on issue $5.74 million2 $5.9 million Cash at hand Market capitalization 31.6 million3 Nil Unlisted options Debt *Assumes full subscription of $3m 1. Post Consolidation and subject to Shareholder Approvals at upcoming General Meeting
Slide 13: Capital Raising
Capital Raising Seeking to raise between $2m (Minimum) and $3m (Maximum) New Shares to issue at $0.02 (two cents) per share Priority offer to existing shareholders Shares on Issue At Minimum % At Maximum % Existing Shares1 144,178,992 59% 144,178,992 49% New Shares 100,000,000 41% 150,000,000 51% To
Slide 14: Relisting Timetable
Capital Raising Relisting Prospectus Open Capital Raise Closed 3-Jul-2025 24-Jul-2025 Timetable* General Meeting 28-Jul-2025 New Shares Trading 13-Aug-2025 Drilling Sign Drilling Contract 28-Jul-2025 • Well planning underway Mobilise Rig** 11-Aug-2025 Drill Well 20-Aug-2025 • Permitting & Approvals
Slide 15: Diona Project Overview
DIONA PROJECT Overview Ill • Each dot is a well 369 km2 12.5 billion cubic 2,300m 15 km $13.00 per 1,000 feet cubic feet Covering Diona sub-block To Silver Springs Gas Facility 100% Gross un-risked mean Target formation depth Current wholesale gas price of ATP 2077 prospective resource ex Wallumbill
Slide 16: XST Team
XST Team Andrew Childs, Chairman Mr Childs is a petroleum geologist with over 35 years of Oil and Gas experience, working in Technical and Commercial roles for small Qualifications: BSc. to mid-capped Companies listed on the ASX, AIM and TSX markets. Mr Childs is formerly Non-executive Chairman of A
Slide 17: Non-Core Assets
Non-Core Assets California Austria 10-30% WI in various gas 20% WI in the Anshof Oil producing properties in the Discovery Sacramento Basin 2023 Production: 14.7 2023 Production: 5,960 million cubic feet of gas barrels 2023 Reserve: Nil 2023 2P Reserve: 1,000,000 barrels 16
Slide 18: Summary
Summary Game-changing Prospect with Pathway to early Targeting Preparing to drill strategy for high chance of production re-listing in in Aug 2025 Xstate technical Aug 2025 success 17
Slide 19: Disclaimer and Important Information About This Presentation
DISCLAIMER AND IMPORTANT INFORMATION ABOUT THIS PRESENTATION • Summary of information: This presentation contains general and background information about the Diona opportunity in Queensland, Australia as at the date of the presentation and should not be considered to be comprehensive or to comprise