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Xstate Resources Limited (ASX:XST)

ALERT: Price-sensitive ASX Announcement for XST
Current share price for XST : $0.012 -0.018 (-60%)+
Announcement
Release
11 May 2026 9:10AM
Price at Release
$0.030
Full Release
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Summary
Xstate Resources Limited announced an operations update on the Diona-1 well located in the Surat-Bowen Basin in Queensland. The Diona-1 exploration well has successfully undergone stimulation and completion, currently in the flow-back and clean-up phase, with gas and condensate beginning to flow to the surface. The workover rig is being demobilized, and the production stream is set to be diverted to measurement equipment soon for multi-rate and pressure monitoring. Xstate holds a 51% interest in the Diona block, with Elixir Energy Limited holding 49%. The company anticipates understanding the production capabilities of the Diona-1 well better in the coming days.
Key Points
  • Stimulation and completion of Diona-1 well successfully completed.
  • Flow-back and clean-up operations have commenced.
  • Gas and condensate are already flowing to the surface.
  • Xstate holds a 51% interest in the Diona block.
  • Elixir Energy Limited holds a 49% interest.
  • Measurement and monitoring to begin as fluids decline.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.