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Xstate Exits Canadian Crest Jinn Assets, Secures Royalty Stream Amid Market Challenges
9:30am on Monday 2nd of June, 2025 AEST
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Oil and Gas
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Xstate Exits Canadian Crest Jinn Assets, Secures Royalty Stream Amid Market Challenges
9:30am on Monday 2nd of June, 2025 AEST
Key Points
Sale of 25% working interest in Crest Jinn assets to Blue Sky Resources
Xstate retains a 3% overriding royalty on 25% of production
Royalty interest valued at approximately C$10,500 (A$11,715)
Decision driven by stalled commercial negotiations and challenging Canadian environment
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