Case-in-point, on 9th May they (Andy Childs) said :- Xstate Executive Chairman Mr Andrew Childs commented: “Xstate is pleased to add a second production hub to our business. The Anshof Oil Field has the potential to be a lucrative addon to our Canadian production, which is current producing around 570 barrels of oil per day (net). We look forward to the Operator bringing the Anshof‐3 well online, and appraising the remainder of this significant Molasse Basin discovery.”
Then in the June (almost 3-mths later) quarterly :- Xstate Executive Chairman Mr Andrew Childs commented: “Xstate is pleased to add a second production hub to our business. The Anshof Oil Field has the potential to be a lucrative addon to our Canadian production, which is current producing around 570 barrels of oil per day (net). We look forward to the Operator bringing the Anshof‐3 well online, and appraising the remainder of this significant Molasse Basin discovery.”
Just a month ago (on 3rd August after raising $2.55M) ADX's Chairman (IT) said :-
In addition to drilling related investment ADX will be undertaking the commissioning of an early production facility to commence commercial production from the Anshof-3 discovery well expected in October 2022.
Now imo, XST should have issued a letter to shareholders in light of this ADX CR which in part is to accelerate Anshof-3 into commercial production. Always a chance that they're playing on the wording here too. It could be read as they're just going to undertake the commissioning in Oct, or are they actually gonna begin production in Oct ?? Not very clear to me really.
XST Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
