Board Change • May 20
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). MD & Director Andrew Bald was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • May 01
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). MD & Director Andrew Bald was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 공시 • May 01
Xstate Resources Limited, Annual General Meeting, May 29, 2026 Xstate Resources Limited, Annual General Meeting, May 29, 2026. Location: at unit 14, 210 bagot road, subiaco wa 6008 Australia 공시 • Apr 23
Xstate Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.69 million. Xstate Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.69 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,439,396
Price\Range: AUD 0.033
Discount Per Security: AUD 0.00198
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 38,772,726
Price\Range: AUD 0.033
Discount Per Security: AUD 0.00198
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing 공시 • Apr 22
Xstate Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.692145 million. Xstate Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.692145 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,439,396
Price\Range: AUD 0.033
Discount Per Security: AUD 0.00198
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 38,837,726
Price\Range: AUD 0.033
Discount Per Security: AUD 0.00198
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Board Change • Dec 31
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). MD & Director Andrew Bald was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 공시 • Dec 17
Xstate Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 3.823599 million. Xstate Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 3.823599 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,707,129
Price\Range: AUD 0.022
Discount Per Security: AUD 0.00132
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 136,092,826
Price\Range: AUD 0.022
Discount Per Security: AUD 0.00132
Transaction Features: Subsequent Direct Listing 공시 • Dec 11
Sacgasco CA, Inc. completed the acquisition of Xstate USA Corporation from Xstate Resources Limited (ASX:XST). Sacgasco CA, Inc. entered into a binding agreement to acquire Xstate USA Corporation from Xstate Resources Limited (ASX:XST) on December 8, 2025. A cash consideration of $0.1 million will be paid by Sacgasco CA, Inc. As part of consideration, an undisclosed value is paid towards common equity and $0.1 million is paid towards forgiveness of unpaid cash calls of XGas LLC.
Sacgasco CA, Inc. completed the acquisition of Xstate USA Corporation from Xstate Resources Limited (ASX:XST) on December 10, 2025. 공시 • Dec 08
Sacgasco CA, Inc. entered into a binding agreement to acquire Xstate USA Corporation from Xstate Resources Limited (ASX:XST). Sacgasco CA, Inc. entered into a binding agreement to acquire Xstate USA Corporation from Xstate Resources Limited (ASX:XST) on December 8, 2025. A cash consideration of $0.1 million will be paid by Sacgasco CA, Inc. As part of consideration, an undisclosed value is paid towards common equity and $0.1 million is paid towards forgiveness of unpaid cash calls of XGas LLC. 공시 • Oct 31
Xstate Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 3.823599 million. Xstate Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 3.823599 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,707,129
Price\Range: AUD 0.022
Discount Per Security: AUD 0.00132
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 136,092,826
Price\Range: AUD 0.022
Discount Per Security: AUD 0.00132
Transaction Features: Subsequent Direct Listing 공시 • Sep 16
Xstate Resources Limited (ASX:XST) completed the acquisition of 51% stake in Diona Gas Project from Elixir Energy Limited (ASX:EXR). Xstate Resources Limited (ASX:XST) agreed to acquire 51% stake in Diona Gas Project from Elixir Energy Limited (ASX:EXR) for AUD 0.25 million on April 4, 2025.
The transaction is subject to approval of offer by acquirer shareholders, consummation of due diligence investigation and consummation of private placement OF AUD 2.5 million. The expected completion of the transaction is September 1, 2025. On July 28, 2025, the transaction has been approved by the shareholders of Xstate Resources Limited. As of August 21, 2025, the transaction was approved by Queensland Department of Natural Resources and Mines. As of August 20, 2025, the expected completion of the transaction is August 28, 2025. As of September 3, 2025, the expected completion of the transaction is September 4, 2025.
Xstate Resources Limited (ASX:XST) completed the acquisition of 51% stake in Diona Gas Project from Elixir Energy Limited (ASX:EXR) on September 15, 2025. 공시 • Sep 12
Xstate Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 2.144 million. Xstate Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 2.144 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 107,200,000
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012 공시 • Jun 04
Kathari Energia GmbH reached an agreement to acquire 20% stake in Anshof Field Area in Austria from Xstate Resources Limited (ASX:XST) for €0.55 million. Kathari Energia GmbH reached an agreement to acquire 20% stake in Anshof Field Area in Austria from Xstate Resources Limited (ASX:XST) for €0.55 million on June 4, 2025. Following completion of the transaction, ADX’s economic interest in the Anshof Field Area Partnership increases from 50% to 70%. ADX will hold a 70% interest in Anshof-3 and a 60% interest in Anshof-2A production wells, increasing ADX’s share of oil production from the Anshof Field Area from 58 BOPD to 72 BOPD. . The transfer of interest is subject to the consent of MND Austria a.s. (MND), ADX’ remaining partner in the Anshof Field Area. 공시 • Apr 11
Xstate Resources Limited, Annual General Meeting, May 14, 2025 Xstate Resources Limited, Annual General Meeting, May 14, 2025. Location: at level 1, 31 cliff street, fremantle, wa 6160, Australia New Risk • Apr 19
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: AU$7.8m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Market cap is less than US$10m (AU$5.79m market cap, or US$3.70m). Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (AU$7.8m revenue, or US$5.0m). Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: AU$0.004 (vs AU$0.011 loss in FY 2022) Full year 2023 results: EPS: AU$0.004 (up from AU$0.011 loss in FY 2022). Revenue: AU$7.82m (down 61% from FY 2022). Net income: AU$1.40m (up AU$4.88m from FY 2022). Profit margin: 18% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. 공시 • Mar 29
Xstate Resources Limited, Annual General Meeting, Apr 29, 2024 Xstate Resources Limited, Annual General Meeting, Apr 29, 2024, at 10:00 W. Australia Standard Time. Location: Level 1, 31 Cliff Street, Fremantle Fremantle Western Australia Australia Reported Earnings • Sep 18
First half 2023 earnings released: AU$0.002 loss per share (vs AU$0.008 loss in 1H 2022) First half 2023 results: AU$0.002 loss per share (improved from AU$0.008 loss in 1H 2022). Revenue: AU$3.98m (down 62% from 1H 2022). Net loss: AU$505.2k (loss narrowed 80% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. New Risk • Sep 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$567k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$567k free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 27% per year over the past 5 years. Market cap is less than US$10m (AU$3.54m market cap, or US$2.27m). Board Change • Jun 02
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non- Executive Director Andrew Bald was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 30
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Executive Chairman Andrew Childs is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. 공시 • Feb 10
Xstate Resources Limited, Annual General Meeting, Mar 13, 2023 Xstate Resources Limited, Annual General Meeting, Mar 13, 2023, at 11:00 W. Australia Standard Time. Location: Level 1, 31 Cliff Street Fremantle, Western Australia Western Australia Western Australia Australia Agenda: To consider the consolidation of capital; and to discuss other matters. Board Change • Nov 18
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Executive Chairman Andrew Childs is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Sep 15
First half 2022 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in 1H 2021) First half 2022 results: AU$0.001 loss per share (in line with 1H 2021). Revenue: AU$10.4m (up 430% from 1H 2021). Net loss: AU$2.56m (loss narrowed 18% from 1H 2021). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Board Change • Apr 27
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Joint Company Secretary & Executive Director David Maxwell McArthur is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Apr 03
Full year 2021 earnings released: AU$0.002 loss per share (vs AU$0 in FY 2020) Full year 2021 results: AU$0.002 loss per share (down from AU$0 in FY 2020). Revenue: AU$8.68m (up AU$8.61m from FY 2020). Net loss: AU$4.64m (loss widened AU$3.99m from FY 2020). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has remained flat, which means it is well ahead of earnings. 