Latest Xstate Resources (ASX:XST) News

Xstate Resources confirms Diona-1 as a gas discovery with strong reservoir pressure but faces challenges removing completion fluids. The company is exploring advanced methods to clear the wellbore and enable sustained production.

Battery tech, biotech and balance-sheet repair drove the biggest gains this week, while guidance cuts and weak post-halt trading hurt several names. Deal-making and fresh equity funding stayed busy, especially in rare earths, defence and gold.

Coal, gold and critical minerals names drove the biggest share moves this week, but strong project news did not always lead to lasting gains. Several stocks jumped on funding, deals and study results, while others gave back early gains as traders locked in profit or worried about dilution.

Xstate Resources has confirmed a significant over-pressured Permian gas and condensate discovery at its Diona-1 well in Queensland, with ongoing flow testing revealing promising transient gas responses constrained by hydrostatic fluid columns.

Xstate Resources reports promising early production from its Diona-1 well in Queensland, with gas and condensate flowing during the flow-back phase following stimulation.

Xstate Resources reports smooth progress at its Diona-1 well in Queensland, completing stimulation and preparing for a 14-day flow test after detecting methane gas during flowback.

Xstate Resources has issued a cleansing prospectus to remove trading restrictions on recently placed shares and associated options, following a $1.69 million capital raise priced at 3.3 cents per share. The offer includes free attaching options to placement participants, brokers, and consultants, subject to shareholder approval.

Xstate Resources has kicked off the stimulation program at its Diona-1 gas well in Queensland and raised $1.69 million through a strategic placement to fund next steps including pipeline connection and extended testing.

Xstate Resources has reported a promising gas discovery at its Diona-1 well in Queensland, updating prospective resources to 200 billion cubic feet and securing funding for upcoming appraisal and production testing.

Xstate Resources has launched a prospectus offering nearly 97 million free attaching options to placement participants and contractors, alongside a nominal cleansing offer to remove trading restrictions on recent share issuances.

Xstate Resources has exited its Californian gas interests, transferring production and liabilities to Australian Oil and Gas Co, as it pivots to concentrate on its promising Diona project in Queensland.

Xstate Resources has successfully re-listed on the ASX and drilled the Diona-1 well in Queensland, revealing a significant overpressured gas column that could accelerate gas sales by mid-2026.