Ann: Sept 2016 Quarterly Activities and Cash Flow Report-XST.AX, page-7

Here you go front page of report


So according to XST it number 3 out of 3! All the other 1 and 2 are just waffle

Summary

1 Xstate has a strong balance sheet and is well positioned to pursue value creating production asset acquisitions onshore U.S.A.

2 The Board remains committed to finding a project that can take advantage of current oil pricing and asset market trends in the US which deliver sustainable value to shareholders.

3 Based on an active business development program coupled with ongoing prudent cost
management initiatives and the potential drilling of the high impact Dempsey gas well, Xstate anticipates an exciting start to 2017.